Trade, Agribusiness and Industry Minister Elizabeth Ofosu-Adjare has held a high-level meeting with GUTA, Abossey Okai spare parts dealers, and transport operators to address the persistent rise in spare parts prices—even as the cedi continues to strengthen.
The discussions, held in Accra on November 11, followed earlier concerns from transport operators that unstable and rising spare parts costs are pushing transport fares upward and worsening the cost of living.
Despite the cedi’s steady appreciation against the dollar for nine months, transport unions say spare parts remain expensive. Dealers explained that although prices of most car parts have dropped recently, Sprinter bus parts remain unusually high due to surging demand and limited supply.
Deputy Finance Minister Thomas Nyarko Ampem urged unions to reduce prices to reflect the stable exchange rate, stressing that the improved cedi performance should translate to relief for consumers.
Parts dealers also pointed out that mechanics and middlemen known as “Affairs” are inflating prices for unsuspecting transport owners—creating a misleading picture of market-wide price hikes. They advised buyers to purchase directly from accredited dealers to avoid overpricing and ensure product quality.
Madam Ofosu-Adjare reaffirmed government’s commitment to transparent and fair pricing, enhanced market monitoring, and reforms to eliminate distortions that harm both consumers and businesses.
All parties agreed to establish a joint platform to address issues quickly and avoid unnecessary public confrontations. The Minister emphasised that her office remains open for engagement and noted that stabilising spare parts prices is crucial to maintaining national economic stability, given their direct impact on transport fares.
