Trade Minister Elizabeth Ofosu-Adjare has renewed calls on spare parts dealers at Abossey Okai to further reduce prices, arguing that recent gains in the cedi and lower import duties should be reflected more fully in market prices.
Speaking after engagements with traders and drivers at the enclave, the minister noted that prices of some essential goods—including spare parts—have already fallen following the cedi’s appreciation from about GH¢17 to the dollar in 2024 to around GH¢12 currently. She said roughly 80 per cent of dealers she interacted with had adjusted their prices downward, although some traders were yet to do so.
According to her, the removal of the COVID-19 levy in the 2026 Budget will further lower import costs and create room for additional price reductions in the coming months. She expressed optimism that prices would improve further from February or March as the macroeconomic gains take hold.
The minister also cautioned vehicle owners against relying on middlemen when purchasing spare parts, noting that intermediaries often inflate prices and distort market signals. She advised buyers to deal directly with traders, compare prices across shops, and involve their mechanics in negotiations to secure better deals.
Ofosu-Adjare further pledged government support to address concerns raised by Sprinter bus spare parts dealers as part of broader efforts to improve efficiency and fairness across the automotive spare parts value chain.
Meanwhile, Chairman of the Abossey Okai Spare Parts Dealers Association, Henry Okyere Jnr., assured that the association is working to ensure members align prices with prevailing market conditions. He said dealer education efforts are ongoing and appealed for patience, noting that further price adjustments should become visible within the next 30 days.
