President John Dramani Mahama has warned foreigners in the country’s cement industry against unfair trade practices.

The President disclosed this while speaking recently in Tema at the launch of the factory of CIMAF Cement, a Moroccan firm.

The €60 million cement factory, which will operate under the free zones board, has the capacity to produce one million tons of cement annually.

President Mahama bemoaned the unfair practices by some foreign companies in Ghana.

The President’s warning comes on the back of complaints by local cement producers about unfair trade practices in the local cement industry by some foreign firms.

It would be recalled that the Association of Cement Manufacturers of Ghana have accused SOL Cement, Fujian, Dangote Cement and other cement importers of engaging in unfair trade practices to gain competitive advantage over the other counterparts.

For example, the local cement manufacturers, GHACEM and Diamond Cement, say the low prices of Dangote cement and others were adversely affecting their businesses.

Even though Dangote has since debunked the allegations, President Mahama believes foreign firms in the country ought to desist from any trade malpractices aimed at gaining undue advantage over their local counterparts.

He, however, gave the assurance the government would protect local companies.

By Melvin Tarlue/dailyguideafrica.com

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