Spare parts dealers call for review on exchange rate

The Vice Chairman of the Abossey Okai Spare Parts Dealers Association, Richard Obeng, has called on government to review exchange rates quarterly instead of weekly to facilitate the clearing and import of goods at the Tema and Takoradi Ports.

Mr Obeng argues that having a stable exchange for three months at a time will have a direct effect on the prices of spare parts and other goods sold at arguably Ghana’s largest spare parts market.

Mr Obeng made the call at a special pre-Easter edition of Adom FM’s Dwaso Nsem morning show at Abossey Okai in Accra on Thursday March 21, 2013.

The show was meant to solicit the concerns of one of Ghana’s largest revenue generators and also reinforce Adom FM’s reputation as the official radio station for the 2013 Kwahu Easter celebrations.

Supported by his Public Relations Officer, Clement Boateng, and surrounded by hundreds of spare parts and other dealers at the outdoor event, Mr Obeng argued passionately that the lack of stability negatively affected long term planning.

The ‘killer’ however, was the “charges and levies which change everyday” at the ports which have caused a huge leap in the prices of goods at Abossey Okai because they have to pass such increases to the consumer.

“After all, no businessman wants to make a loss,” he pointed out.

Mr Obeng also expressed displeasure at the growing numbers of foreigners, particularly Nigerians and Chinese, in a market earmarked for local businesses. The presence of these non-Ghanaians -whose goods are generally lower priced “even though nobody knows why” Mr Obeng insisted, was having a very negative effect on the livelihoods of Abossey Okai traders.

He therefore called on the Ghana Investment Promotion Council and the Registrar General’s Department to be up and doing to stem the rising anger against non-Ghanaians infiltrating the spare parts and other trades.