Abossey Okai spare parts dealers directed to reduce prices amid Cedi gains

The Abossey Okai Spare Parts Dealers Association has directed all its members to reduce the prices of spare parts, following the recent appreciation of the Ghana Cedi.

In a press statement issued on May 18, 2025, the Association stated that the price reduction is aimed at providing relief to customers and complementing the government’s broader efforts to stabilize the economy and reduce the cost of living.

The Association praised the government for the decisive steps taken to strengthen the local currency and restore macroeconomic stability.

“We pledge our full collaboration with the government to sustain this positive trend and ensure further appreciation of the Cedi, bringing much-needed economic relief to Ghanaians,” said Mr. Henry Okyere Jnr, Chairman of the Association.

He further appealed to all members to strictly comply with the directive on price adjustments, reinforcing their commitment to fair pricing and market stability.

The Association emphasized that this move reflects its dedication to supporting national economic recovery efforts while ensuring spare parts remain affordable for consumers.

Read the full statement below:

FOR IMMEDIATE RELEASE

Abossey Okai Spare Parts Dealers Association

Greater Accra Region

May 18, 2025

Abossey Okai Spare Parts Dealers Call on Members to reduce Prices Following Cedi Appreciation

The Abossey Okai Spare Parts Dealers Association in the Greater Accra Region has directed its members to reduce the prices of spare parts in response to the recent appreciation of the Ghana Cedi against the US Dollar under the new John Dramani Mahama-led administration.

This decision aims to provide relief to customers and support the government’s ongoing efforts to stabilize prices of goods and services across the country.

The Association commended the government for its bold and decisive steps in strengthening the local currency and stabilizing the economy.

“We pledge our full collaboration with the government to sustain this positive trend and ensure further appreciation of the Cedi, bringing much-needed economic relief to Ghanaians,” the Chairman Of the Association Mr Henry Okyere Jn also appealed to all members to strictly adhere to the price adjustments, reinforcing their commitment to fair pricing and market stability.

The Association is of the view this move underscores the Association’s dedication to supporting national economic recovery and ensuring affordability for consumers.

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The post Abossey Okai spare parts dealers directed to reduce prices amid Cedi gains first appeared on 3News.

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