Dealers at Abossey Okai, Ghana’s largest hub for automobile spare parts, have begun reducing prices of key products as the cedi continues to appreciate against the US dollar.
The price adjustments come after internal consultations and a meeting with the Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, over concerns about inconsistencies in market pricing.
Within Abossey Okai, many traders say the strengthening cedi has eased the financial pressures associated with importing spare parts.
This has allowed several shops to lower their prices in an effort to provide relief to customers and maintain trust within the market.
According to the Abossey Okai Spare Parts Dealers Association, although the reductions vary across product categories, the community-wide trend is expected to continue if the local currency maintains its current stability.
At the market, some dealers are already demonstrating the impact.
Stephen Boakye, who sells thermostats and brake pads, told Citi Business News that the difference is clear, “If you’ve heard that the cedi has gained against the dollar and that it has affected prices, it’s true. I used to sell this brake pad for GHS 200, but now I can sell it for around GHS 100. This thermostat was GHS 600 and now goes for GHS 400 because import duty has dropped too.”
Other traders within Abossey Okai have also made reductions, though not all have adjusted their prices at the same pace.
Albert Kwamena, a dealer in leather seat covers, explained:
“Yes, prices have gone down, but some of my colleagues still haven’t reduced theirs. I have. My seat covers were GHS 500 but now they’re GHS 450. Others that were GHS 700 now sell for GHS 650.”
Despite the downward adjustment in prices, some Abossey Okai dealers say trading remains unpredictable. “Business is up and down,” Stephen Asante noted. “Sometimes sales pick up, other times it’s very slow”, he added.
The Spare Parts Dealers Association says the goal is to ensure consistent and meaningful reductions across the entire market.
Takyi Addo, Head of Communications for the Association, said Abossey Okai is committed to pushing for further cuts as long as economic conditions improve:
“Sixty to seventy per cent is not enough. We need more; at least another twenty to twenty-five per cent. If not for the budget that was read last week, we would have seen reductions as high as ninety-nine per cent. In 2026, we expect even more reductions.”
The Association says it will continue to engage its members to ensure that prices at Abossey Okai fairly reflect the improving cedi and offer relief to vehicle owners and mechanics across the country.
