Importers have agreed to reduce their prices – Trade Minister

Elizabeth Ofosu-Adjare, the Trade Minister, announced that direct importers will lower prices.

She explained that the government cannot force traders to reduce prices. The cedi has appreciated, but price control is not within the government's power. However, the government can negotiate with stakeholders.

After a meeting with various trade associations, Ofosu-Adjare shared positive news. She said some importers have already started reducing their prices.

The meeting included representatives from the Ghana Union of Traders Association (GUTA), the Association of Ghana Industries (AGI), and the Food and Beverage Association of Ghana (FABAG). Ofosu-Adjare emphasized that while price control isn't possible, negotiations can help benefit traders and consumers.

She expressed satisfaction that direct importers agreed to lower prices. GUTA and AGI noted that while the cedi has stabilized, it may take time for this to reflect in prices.

Finance Minister Dr. Cassiel Ato Forson also urged businesses to adjust their pricing as the cedi improves. He stated that improvements in the cedi should be reflected in consumer prices.

Forson reassured that this appreciation is not temporary. As of May 14, 2025, one dollar trades at GH¢12.59.