Collins Sefa The Minister of Trade, Agribusiness and Industry, Mrs. Elizabeth Ofosu-Adjare, has called on spare parts dealers at Abossey Okai to reduce prices in line with the strengthening of the Ghana cedi against the US dollar.
During a working visit to Ghana’s largest spare parts market, Mrs. Ofosu-Adjare noted that the cedi appreciated significantly last year, with the dollar falling from about GH¢17 to under GH¢12, making imports more affordable.
“The cedi is stronger and the dollar is stable. You are importing at a good rate, so prices should reflect the strength of the cedi,” she said.
The visit, the Minister’s fifth engagement with traders since early 2025, included interactions with shop owners who had already reduced prices, including engine oil dropping from GH¢600 to GH¢350 and Bosch batteries from GH¢1,700 to GH¢1,200.
While around 80% of traders have complied with the directive, Mrs. Ofosu-Adjare emphasized that a few shops have yet to adjust their prices. She expressed confidence that further reductions would follow, particularly with the removal of the COVID-19 levy and expected cuts in import duties.
The Minister also advised car owners and drivers to purchase spare parts directly from dealers rather than middlemen, who often inflate prices. She added that a police post will be established in front of Abossey Okai to monitor middlemen activities, and encouraged the spare parts dealers association to set up a customer service desk to guide buyers to fair-priced shops.
The Chairman of the Abossey Okai Spare Parts Dealers Association, Mr. Henry Okyere, confirmed that most traders have reduced prices, but about 10% are yet to comply. He encouraged customers to negotiate directly with shop owners to take full advantage of lower costs. “If you give it to a third person, they can sell a GH¢10,000 engine for GH¢18,000. But if you come yourself, you can negotiate and reduce the price,” he said.
Mr. Okyere also thanked President Mahama for stabilizing the dollar and reducing import duties, stressing that collective compliance will further enhance affordability for consumers.
