BY ISSAH OLEGOR
THE construction industry is facing a difficult market as cement sales decline, retail activity loses momentum and prices of key building materials continue to rise, creating fresh cost pressures for property developers, contractors and households undertaking building projects.
Data from the Bank of Ghana’s September 2026 Monetary Policy Report show that cumulative cement sales fell by 10.3 per cent between January and July 2026, declining from 1.64 million tonnes in the corresponding period of 2025 to 1.48 million tonnes.
The decline points to a moderation in construction activity, raising concerns about demand across the building industry at a time when the cost of essential materials remains elevated.
The figures present a difficult combination for the sector: fewer tonnes of cement are being sold, yet builders are still facing higher prices for cement, iron rods and sand. For households building homes and developers working with limited financing, the situation could increase project costs and complicate construction budgets.
In July alone, cement sales dropped by 4.9 per cent year-on-year to 202,218 tonnes, compared with 212,735 tonnes in July 2025. Sales also declined by 0.6 per cent from the 203,435 tonnes recorded in June 2026, suggesting that demand weakened further during the month.
The continuing decline in sales could put pressure on cement manufacturers, distributors and retailers if the trend persists, particularly if lower demand affects the volumes they can sell while operating and distribution costs remain high.
However, the reported figures do not establish that all construction activity across Ghana has contracted. Rather, they indicate weaker cement sales and a moderation in activity within the construction value chain during the period under review.
While cement sales have weakened, prices of selected construction materials have moved in the opposite direction, according to the September edition of the Channel One Market Price Barometer.
The price of a bag of 32.5R cement increased from GH¢98 to GH¢100, while 42.5R cement rose from GH¢109 to GH¢117 during the period covered by the report.
