Dealers at Abossey Okai, Ghana’s largest automotive spare parts marketplace, have begun lowering the prices of key products following the continued appreciation of the cedi against the US dollar.

The reductions follow internal industry consultations and a meeting with the Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, after concerns were raised over inconsistent pricing despite exchange rate improvements.

Traders say the strengthening local currency has eased import-related costs, enabling them to adjust prices downward to ease the burden on customers and sustain confidence in the market.

The Abossey Okai Spare Parts Dealers Association confirmed that although price reductions differ across product categories, the general downward trend is expected to continue if the cedi maintains its current stability.

At the market, some dealers have already recorded noticeable changes. Stephen Boakye, a seller of thermostats and brake pads, told Citi Business News that the currency gains are having a direct effect on retail pricing.

“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 it is around GHS 100. This thermostat was GHS 600 and now goes for GHS 400 because import duty has dropped too,” he said.

Other traders have also adjusted their prices, though the pace of reductions varies.
Leather seat cover dealer Albert Kwamena noted:

“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 movement in prices, trading activity remains uncertain.
“Business is up and down,” said Stephen Asante. “Sometimes sales pick up, other times it’s very slow.”

The Spare Parts Dealers Association says it is working toward broader and more uniform price reductions across the market. The Association’s Head of Communications, Takyi Addo, said the community intends to push for further cuts if economic conditions continue to 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,” he said.

The Association says it will continue engaging members to ensure that pricing reflects the strengthening cedi and provides genuine relief for car owners, mechanics, and transport operators across the country.