Trade and Industry Minister Kobina Tahir Hammond said here Monday that the government was taking steps to streamline cement manufacturing and bagging activities in Ghana.
In that regard, Hammond said during the opening of the three-day 6th Ghana Industrial Summit and Exhibition 2023 that the Ghanaian government has suspended the issuance of licenses for establishing new factories for manufacturing and bagging of Portland cement in the country.
He said the multi-regulated sector, had witnessed some unhealthy developments, hence the need to put in place a coordinating mechanism to streamline the regulatory processes before authorizing the construction of new factories.
“Fixing this problem will help remove uncertainties and enhance business confidence among current manufacturers and prospective new entrants,” Hammond stated.
Hammond added, “The suspension also offers an opportunity to examine and address issues of concern to the industry and government, including enforcement of standards, adherence to environmental safeguards, and market opportunities for existing producers to maximize the use of their installed capacity.”
ConsTrack360, an online trade data portal, estimates that the value of the cement industry in Ghana would grow by 3.5 percent year on year to reach 1. 69 billion U.S. dollars in 2023 from 1.64 billion dollars in 2022.