This announcement follows allegations from Minority members of Parliament that the government was considering signing a deal with West Africa Agro-Tech Company (WAATCO) without parliamentary approval. They also claimed that the government was expected to pay at least $50,000 to WAATCO.

Former Deputy Trade Minister and member of the Parliamentary Trades Committee, Murtala Mohammed, along with Yusif Sulemana, threatened to summon the Minister before Parliament.

Murtala Mohammed stated that “We will invite the minister to parliament, unfortunately, you know we are on recess, we will ensure the committee will invite the minister to come and explain to us. We will ensure the committee invites the minister to explain the situation. According to the agreement, he is supposed to pay $50,000 per month to WAATCO.”

“This does not include additional fees; this is just the management fee. If there is no due process, we can assure them that an NDC administration will abrogate the contract,” Yusif Sulemana added.

In response, K.T. Hammond accused the Minority of misinforming the public, assuring that a deal has not yet been finalised with WAATCO.

Speaking to JoyNews, Hammond clarified, “We have invited some people to see what can be done to get the factory running, but no one was interested.”

“WAATCO has requested a leasehold of our facility and equipment. The Komenda Sugar Factory is 100% Ghana government property, and I haven’t signed anything yet. We have not paid them anything. We are offering them the use of the facility under the condition that they pay us. We are negotiating for them to pay us over one million dollars annually. Although we haven’t agreed on the final figure, it is almost certain it will be more than one million dollars per year.”

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The meeting took place at Christ the King in Accra.

In an interview on Asempa FM’s Ekosii Sen programme Monday, Mr. Hammond said he does not see anything wrong with his actions.

“I don’t see anything wrong with it. I called for a meeting with the manufacturers, but they refused to attend” he fumed.

According to him, the only reason the manufacturers gave for not attending was his insistence on having the meeting in the presence of the media.

He clarified, “This particular meeting was meant for interactions with the Chamber of Construction.”

Following Mr. Hammond’s insistence, Emmanuel Tettey Martey, Chairman of the Ghana Chamber of Construction Industries, requested that the cement manufacturers exit.

But the Trade Minister said since Monday, he has been meeting with other stakeholders on different issues.

“They are not the only ones I need to meet. I am tired of this situation,” he said.

The Trade Minister also mentioned that, he has laid the document in Parliament, and it will become law in 21 days.

“I don’t need any input from them regarding implementation. Now I am beginning to think that they are hiding things and don’t want us to know. After disrespecting me, they are going around saying things that are not worth it” he fumed.

Mr. Hammond acknowledged the challenges posed by a free market system. “I understand it is a free economy, so everyone does what they want.”

However, he stated that a free economy should not be equated with exploiting consumers.

“My understanding of a free economy is not the freedom to cheat or fleece people. Economic enterprise is about the freedom of trade and achieving profits within reasonable means, not making senseless and unreasonable profits at the expense of the citizenry,” he concluded.

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The Minister’s directive comes in response to the recent arbitrary increases in cement prices.

He further requested the publication of the retail prices of cement by all manufacturers, a move aimed at halting the continuous price hikes.

In a bid to ensure uniform cement prices nationwide, the Minister reiterated his call for the CMDC to adopt a unified cement pricing mechanism. This mechanism is akin to the Unified Petroleum Pricing Fund (UPPF) adopted by the National Petroleum Authority for fuel retail in Ghana.

The CMDC, established under the Ghana Standards Authority (Manufacture of Cement) Regulations, 2023 (LI 2480), is chaired by the Director General of the Ghana Standards Authority (GSA), Prof Alex Dodoo.

The committee comprises representatives from various sectors including cement manufacturers, the Association of Ghana Industries, the Environmental Protection Agency, the Ghanaian Institution of Engineers, the Ministry of Trade and Industry, and the Ministry of Environment, Science, Technology and Innovation.

As the regulator for cement manufacture in the country, the CMDC is charged with promoting the “manufacture, wholesale and retail of cement and cement components.”

This latest directive from the Minister, is considered to be part of the government’s commitment to ensuring fair pricing in the cement industry.

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