Spare parts dealers at Abossey Okai are pushing back against calls to lower prices, despite the recent appreciation of the Ghanaian cedi against the U.S. dollar.
Many of these dealers argue that their current inventory was purchased when the exchange rate was much higher, making it financially unfeasible to adjust prices downward at this time.
This position stands in contrast to the Abossey Okai Spare Parts Dealers Association’s directive, which has encouraged members to align their prices with the cedi’s recovery.
Speaking in an interview, several dealers explained that any potential price reduction would only be feasible once they have restocked at the more favorable exchange rates.
Francis Appiagyei, a local spare parts dealer, stated, “For now, it’s not possible because the goods were ordered at a higher exchange rate. Once the stock is gone, and we reorder at the new rate, that’s when prices will come down.”
Another dealer, Yaw Ansong, added, “I can’t reduce prices unless I sell out my current stock first. I haven’t placed a new order yet, so any price cuts would put my business at risk.”
Others, however, remain hopeful that prices will fall in the future—provided the cedi’s gains prove stable over time.
“We understand the dollar is down, and the cedi is improving,” said Eric Osei Danso. “We will lower prices once we see that the exchange rate remains stable.”
