Spare parts dealers in the Ashanti regional capital of Kumasi are perturbed over the current rate of the dollar which is inundating the cedi.
According to the C.E.O of Basfam Enterprise, spare parts sales from mid-2017 till date have been poor such that within a week, sales of GHc500.00 do not realize.
Musa Abubakar who imports truck spare parts, batteries and engine oil from Turkey observed anytime he flies out from the country to purchase these goods, even if the prices do not scale significantly, the cedi losses value against the dollar eating into his reserves noting when they attempt to set prices on the vehicle parts to contain their expenditure and profit margin to some customers abandon their shops scouting for other shops, a situation the Basfam Enterprise head found worrying.
Another problem Mr Abubakar cited for hampering the advancement of the retail trade is the situation at the Tema Port, where the Ghana Ports and Harbours Authority demands full payment of charges before goods get released to clients.
He submitted given they pay taxes, government ought to stabilize the Cedi to help improve their business.