The Abossey Okai Spare Parts Dealers Association has reported that prices of spare parts have started to decline and are expected to continue falling through the end of the year.
This development follows recent engagements 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 meetings, stakeholders were urged to address persistent price irregularities and the recent spikes recorded across major markets.
Speaking to Citi News on Monday, November 24, the Association’s Head of Communications, Takyi Addo, said a meeting is scheduled this week with importers and retailers to negotiate further price reductions, which could extend into 2026.
“Some prices have already been reduced, but more needs to be done. The reductions we expect are not yet fully visible. From now until the end of the year, more prices will drop, and in 2026, we anticipate a 9.9% reduction in our surplus industry,” Mr Addo explained.
He added that the association is actively educating retailers and engaging with importers, noting that the majority of market players are retailers, while importers are relatively few.
“We are now talking to importers because most of the people are retailers; the importers are very few,” he said.
info@businessghana.com
