Spare Parts prices begin to fall, further reductions expected — Abossey Okai dealers

The Abossey Okai Spare Parts Dealers Association says the prices of spare parts have begun to decline and are expected to continue dropping before the year ends.

The 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. The discussions focused on addressing price irregularities and the sharp increases recorded in recent months.

Speaking to Citi News on Monday, November 24, the Association’s Head of Communications, Takyi Addo, revealed that a crucial meeting with importers and retailers will be held this week to negotiate further price reductions — a process that could extend into 2026.

“Some prices have already gone down, but more reductions are needed. The expected decrease is not yet fully reflected on the market. From now until the end of the year, we expect more declines, and in 2026, we anticipate at least a 9.9% reduction within our industry,” Mr. Addo said.

He noted that the association has intensified its education efforts for retailers while deepening engagements with importers, who represent a smaller segment of the market.

“We are now talking to importers because most of the people operating in the market are retailers; the importers are very few,” he added.