The Minister for Trade, Agribusiness and Industry, Hon. Elizabeth Ofosu-Adjare, has intensified government’s push for fair market practices with a high-level engagement involving the Ghana Union of Traders Association (GUTA), spare parts dealers, and commercial transport operators. The meeting, held on Thursday, 11th November 2025 in Accra, sought to address the persistent and unjustified escalation in spare parts prices despite the cedi’s strong performance in recent months.
The discussions follow earlier concerns raised by transport operators that the continuous rise in spare parts prices is driving up transport fares, worsening the cost of living for ordinary Ghanaians. Operators expressed frustration that although the cedi has appreciated steadily against the dollar for the past nine months, the expected reduction in spare parts prices has not been realized.
In response, the Minister convened all affected parties—including leaders of GUTA, the Abossey Okai Spare Parts Dealers Association, and transport operators—to identify the underlying factors behind the price distortions. While traders acknowledged that several car parts have seen price reductions, they noted that parts for Sprinter buses remain unusually expensive due to limited supply and high demand, pushing prices up in those segments.
Deputy Minister for Finance, Hon. Thomas Nyarko Ampem, urged traders and unions to match their pricing with the improved exchange rate environment. He stressed that price decreases must be visible when economic fundamentals improve, reminding stakeholders of their responsibility to support national recovery efforts.
Spare parts dealers further highlighted a key challenge—many transport owners purchase parts through intermediaries, popularly called “Affairs,” who inflate prices significantly. They cautioned that this creates a false impression of widespread price increases. Dealers encouraged transport operators and the public to buy directly from recognized shops to ensure product quality and fair pricing.
Hon. Ofosu-Adjare reaffirmed government’s commitment to protecting consumers and promoting a transparent trading environment. She noted that stabilizing spare parts prices is essential to reducing transportation costs and ensuring broader economic stability. The Minister also emphasized ongoing efforts to streamline trade policies, strengthen market monitoring, and eliminate artificial mark-ups that burden Ghanaian households.
To enhance collaboration and conflict resolution, stakeholders agreed to establish a unified communication platform to address grievances promptly. The Minister reiterated that her office remains open for dialogue and emphasized that resorting to media confrontations is unnecessary when direct engagement is fully accessible.
The Ministry’s latest intervention signals a renewed push for accountability, fairness, and responsible pricing practices across Ghana’s trading and transport space—ensuring that the benefits of a stable cedi are felt by all citizens.
