Abossey Okai Spare Parts Dealers Ordered to Reduce Prices as Cedi Strengthens

The Abossey Okai Spare Parts Dealers Association has issued a firm directive to its members to reduce the prices of spare parts, citing the recent appreciation of the Ghana Cedi against the US Dollar under the leadership of the newly sworn-in John Dramani Mahama administration.

The association explained that the move is intended to ease the burden on customers and complement the government’s broader strategy to stabilize the economy and reduce the cost of goods and services.

In a statement, the association commended the government for taking bold and effective steps to strengthen the local currency, describing the current economic climate as promising and hopeful for business owners and consumers alike.

“We pledge our full collaboration with the government to sustain this positive trend and ensure further appreciation of the Cedi, bringing much-needed economic relief to Ghanaians,” the association stated.

Commitment to Fair Pricing and Economic Stability

Chairman of the Association, Mr. Henry Okyere, emphasized the importance of compliance among members. He urged all dealers to strictly adhere to the new pricing directives, reinforcing their collective commitment to fair pricing and market discipline.

“The association believes this decision demonstrates our dedication to national economic recovery and making spare parts more affordable for consumers,” Mr. Okyere added.

The call for price reductions is expected to impact a wide range of auto parts sold across Abossey Okai, Ghana’s largest auto parts hub, and could set a precedent for other trade sectors to follow suit as the cedi continues to strengthen.