Kokompe, the largest hub for dealers in car spare parts in the Sekondi – Takoradi Metropolis of the Western Region, has expressed frustration over the continuous depreciation of the cedi against the major foreign currencies.
Dealers attributed this trend to the rising cost of imports due to high port tariffs and unstable exchange rates.
This, according to the traders, has left them struggling to keep their business afloat due to this trend.
The cedi, as of September this year, lost 24.3 per cent against the dollar compared to 21.3 per cent in August 2024.
Beach News’ visit to the spare part traders stated how the negative impact of the cedi has not spared them.
The traders are calling on the authorities to take necessary measures to avert the debts incurred as a result of the Cedi’s fall.
They also suggested the implementation of a flat tax rate on imported goods.
