Ongoing construction of the Pangani Affordable Housing Programme on January 21, 20222 The rising cost of building materials in Kenya has pushed construction costs by an average of Sh3,000 per square metre, forcing constructors to hold ongoing projects.
The rising cost has been attributed to a disruption in the global market on the ongoing Russia/Ukraine crisis and the weakening shilling, with some cement, steel and paint firms announcing a price surge of at least two per cent.
“I bought a bag of cement at Sh600 in Bondo end of January. Last week, I was told it has gone up to Sh1, 000 at the same shop. I am suspending construction for now,’’ Jack Owour lamented.
Yesterday, a Twitter user @Nick Kanali alluded to cement shortage in Eldoret and its environs saying that he was looking for 70bags but only managed to get 33.
“We have a cement shortage in this country. If you are lucky to get a bag, it costs Sh100 more,’’ he twitted.
His tweet attracted a number of his followers who shared their predicaments following the rising cost of building materials, with some, just like Owour considering shelving ongoing projects.
Many noted that the price of a bag of cement has gone up by at least Sh300 in the past two months.
Last week, Kenya’s leading cement maker, Bamburi, which commands 32.6 per cent of the country’s market share, announced a price increase of two to 10 per cent attributed to input raw materials.
The Nairobi Securities Exchange-listed firm said in order to sustain its operation, it has increased the prices of Nguvu, Tembo and Fundi brands.
“The cost of input raw materials continues to increase disproportionately compared to what Bamburi Cement can absorb,’’ the company said in a statement.
Last week, the Kenya Association of Manufacturers (KAM) warned of a surge in the commodity process as the ongoing Russia/Ukraine crisis continues to hurt the global supply chain.Apart from cement, constructors are decrying the rising cost of steel, a vital component in the building industry, used to make roofing sheets, reinforcement bars, steel beams and columns, windows and doors.A spot check by the Star over the weekend in Nairobi’s Kamukunji Market shows the cost of some steel materials has jumped by over Sh1,700 in the past three months.Although the global prices have been rising in high demand, the ongoing Russia-Ukraine conflict and President Uhuru Kenyatta’s ban on scrap metal in January have worsened the situation.For instance, […]
