The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has met with the leadership of the Ghana Union of Traders Association (GUTA), spare parts dealers, and transport operators to address persistent irregularities and recent price hikes in spare parts across major markets.

The high-level engagement, held in Accra on Thursday, 11 November 2025, followed an earlier meeting with transport operators who raised concerns that unstable spare parts prices are affecting transport fares and worsening the cost of living.

Transport operators noted that although the cedi has appreciated steadily against the dollar for the past nine months, the cost of spare parts continues to rise, placing significant strain on their operations.

To understand the root causes, the Minister brought together GUTA, the Abossey Okai Spare Parts Dealers Association, and commercial transport operators. Representatives explained that while prices of many vehicle parts have declined in recent months, parts for Sprinter buses remain high due to increased demand and limited supply.

Deputy Minister for Finance, Thomas Nyarko Ampem, called on unions to reduce prices in line with the cedi’s recent stability. He urged stakeholders to reflect improved exchange rate conditions in their pricing.

Parts dealers also highlighted the role of middlemen—popularly known as “Affairs”—who purchase parts on behalf of transport owners and significantly inflate prices. They stressed that this practice creates a false perception of market-wide increases and encouraged the public to buy directly from recognised dealers to ensure quality and fair pricing.

Hon. Ofosu-Adjare reaffirmed the government’s commitment to promoting fair pricing, transparency, and market stability, noting that ongoing efforts aim to streamline trade policies, enhance monitoring, and eliminate distortions that harm both consumers and businesses.

Stakeholders agreed to create a common platform to address concerns promptly and avoid unnecessary public confrontations. The Minister reiterated her open-door policy, stressing that groups should engage directly with the Ministry rather than resorting to the media.

She underscored that maintaining stable spare parts prices is essential for broader economic stability, given their direct impact on national transport fares.