Spare parts traders at Abossey Okai remain divided on whether to reduce prices following the recent appreciation of the Ghana cedi against the US dollar.
Speaking on Adom FM’s Dwaso Nsem, some dealers explained that their current stock was purchased when the exchange rate was much higher, meaning that lowering prices now would result in losses.
Others, however, commended the Mahama-led administration for measures they believe have strengthened the local currency and helped stabilise the broader economy.
Yet, some traders argued that the positive impact of the cedi’s gains is not being felt in the import business, as goods continue to arrive at high costs. Limited access to foreign currency at commercial banks has further frustrated importers.
“You can go to some banks, and if you don’t have an account, they’ll decline your request. Others give you a date, but even then, the dollars aren’t available. Meanwhile, the ‘Abochi’ has excess, and no one knows how. How does he get dollars when the banks don’t?” one trader lamented.
Despite these challenges, a few dealers confirmed they had already reduced prices in line with recent directives, while others indicated a willingness to adjust if the cedi’s stability is maintained.
For now, consumers may have to wait longer for relief, as many traders insist that price changes must reflect economic realities rather than public pressure.
Source: Gertrude Otchere
