The Abossey Okai Spare Parts Dealers Association has announced a decline in spare parts prices, which are anticipated to continue decreasing until the year’s end.
This change follows recent discussions led by the Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, with the leadership of the Ghana Union of Traders Association (GUTA), spare parts dealers, and transport operators.
During these discussions, stakeholders were encouraged to tackle ongoing price inconsistencies and the recent increases observed in major markets.
In an interview on Monday, November 24, the Association’s Head of Communications, Takyi Addo, mentioned that a meeting is planned for this week with importers and retailers to negotiate additional price reductions, which may extend into 2026.
“Some prices have already been lowered, but further action is necessary. The reductions we anticipate are not yet fully apparent. From now until the end of the year, we expect more prices to decrease, and in 2026, we foresee a 9.9% reduction in our surplus industry,” Mr. Addo elaborated.
He further stated that the association is proactively educating retailers and collaborating with importers, emphasizing that most market participants are retailers, while importers are relatively few.
“We are currently engaging with importers because the majority of the individuals involved are retailers; the number of importers is quite limited,” he remarked.
