The Abossey Okai Spare Parts Dealers Association has directed its members to reduce prices following the Ghanaian Cedi’s recent appreciation, a move aimed at easing consumer costs and bolstering national economic recovery efforts.
In a May 18, 2025 press statement, the association linked the directive to government policies strengthening the local currency and stabilizing macroeconomic conditions.
“We pledge full collaboration with the government to sustain this positive trend and ensure further Cedi appreciation,” said Henry Okyere Jnr, the association’s chairman. He urged strict compliance with the price adjustments, emphasizing their commitment to fair pricing and market stability.
The association underscored the critical role of affordable spare parts in Ghana’s transportation sector, a key factor influencing inflation and broader economic activity. By aligning price reductions with the Cedi’s gains, dealers aim to pass on currency benefits to consumers, reinforcing efforts to reduce the cost of living.
Read the full statement below:
FOR IMMEDIATE RELEASE
Abossey Okai Spare Parts Dealers Association
Greater Accra Region
May 18, 2025
Abossey Okai Spare Parts Dealers Call on Members to reduce Prices Following Cedi Appreciation
The Abossey Okai Spare Parts Dealers Association in the Greater Accra Region has directed its members to reduce the prices of spare parts in response to the recent appreciation of the Ghana Cedi against the US Dollar under the new John Dramani Mahama-led administration.
This decision aims to provide relief to customers and support the government’s ongoing efforts to stabilize prices of goods and services across the country.
The Association commended the government for its bold and decisive steps in strengthening the local currency and stabilizing the economy.
“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 Chairman Of the Association Mr Henry Okyere Jn also appealed to all members to strictly adhere to the price adjustments, reinforcing their commitment to fair pricing and market stability.
The Association is of the view this move underscores the Association’s dedication to supporting national economic recovery and ensuring affordability for consumers.