November 22
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Inside NOV <strong>22</strong>, 2018 .qxp_Layout 1 11/21/18 9:36 PM Page 7<br />
21ST<br />
NOVEMBER<br />
2018<br />
WEDNESDAY<br />
CURRENCY PARIS CODE BUYING SELLING<br />
US Dollar USDGHS 4.7870 4.7918<br />
RATES Pound Sterling GBPGHS<br />
6.2566<br />
6.2648<br />
Euro<br />
GBPGHS<br />
5.4657<br />
5.4719<br />
10<br />
DAILY HERITAGE THURSDAY NOVEMBER <strong>22</strong>, 2018<br />
WWW.DAILYHERITAGE.COM.GH<br />
Producer Price Index rises to 7.2%<br />
BY ROSEMOND BOATENG ADDAI<br />
Rosemond.adjetey@yahoo.com<br />
PRODUCER PRICE<br />
Index (PPI) for the<br />
month of October<br />
2018 increased to<br />
7.2% from 5.8%<br />
recorded for September.<br />
The PPI is the system that<br />
measures the average change over<br />
time in the prices received by domestic<br />
producers for the production<br />
of their goods and services.<br />
Briefing the press on Wednesday<br />
(yesterday) in Accra, Mr Baah<br />
Wadieh, Acting Government Statistician<br />
of the Ghana Statistical<br />
Service, explained that the rate<br />
represents a 1.4 percentage point<br />
increase in producer inflation relative<br />
to the rate recorded in September<br />
2018.<br />
"The month-on-month change<br />
in PPI between September 2018<br />
and October 2018 was 1.6%," he<br />
said.<br />
The Statistician said the PPI in<br />
the mining and quarrying sub-sector<br />
increased by 4.0 percentage<br />
points over the September 2018<br />
rate of 0.4% to record 4.4% in<br />
October 2018.<br />
"The producer inflation for<br />
manufacturing, which constitutes<br />
more than two-thirds of the total<br />
For manufacturing,<br />
the Statistician<br />
said during the<br />
month of October<br />
2018, three out of<br />
the 16 major<br />
groups in the manufacturing<br />
sub-sector<br />
recorded<br />
inflation rates<br />
higher than the<br />
sector average of<br />
9.7%.<br />
of the industry, increased by 1.2<br />
percentage points to record 9.7%.<br />
The utilities sub-sector recorded<br />
an inflation rate of -0.1% in October<br />
2018, indicating an increase<br />
of 0.1 percentage point over the<br />
September 2018 rate."<br />
For manufacturing, the Statistician<br />
said during the month of<br />
October 2018, three out of the 16<br />
major groups in the manufacturing<br />
sub-sector recorded inflation<br />
rates higher than the sector average<br />
of 9.7%.<br />
"Manufacture of coke, refined<br />
petroleum products and nuclear<br />
fuel recorded the highest inflation<br />
rate of 36.1%, while manufacture<br />
of machinery and equipment not<br />
else classified recorded no change<br />
in inflation,” he said.<br />
He also explained that the producer<br />
inflation rate in the petroleum<br />
subsector was 36.9% in<br />
October 2017, but declined to<br />
27.7% in <strong>November</strong> 2017 and<br />
that the rate increased to 36.4% in<br />
December 2017 but declined consistently<br />
to record 15.9% in<br />
March 2018.<br />
“Subsequently, the rate consistently<br />
increased to record 44.2%<br />
in June 2018, but decreased to<br />
31.1% in September 2018. It,<br />
however, resumed an upward<br />
trend to record 36.1% in October<br />
2018.<br />
Access Bank climaxes ‘Sustainability Week’ with donation to deprived schools<br />
AS A way of re-enforcing its commitment<br />
to sustainability principles<br />
and commemoration of the bank’s<br />
10 years of sustainability, Access<br />
Bank Ghana has climaxed its<br />
weeklong activities which began<br />
from <strong>November</strong> 5 to 9, by donating<br />
hundreds of recycled school<br />
bags to pupils in deprived schools<br />
across the country.<br />
On the theme ‘Financing a Sustainable<br />
Future,’ the week was<br />
aimed at reminding all employees<br />
of the crucial role they had to play<br />
in creating a sustainable future for<br />
the Bank and the communities in<br />
which it operates. It was also used<br />
to encourage them to engage in<br />
activities that would positively impact<br />
the environment as well as<br />
touch lives, leaving positive memories<br />
on people.<br />
Beneficiary schools include the<br />
Mantse Tackie ‘3’ KG & Primary<br />
School in Accra, the Gbanyamni<br />
L/A Primary School in Tamale<br />
and the Ohwimase L/A Primary<br />
School in Kumasi. The others are<br />
the Heve E.P and Kpetoe Basic<br />
Schools in Ho, the Zongo L/A<br />
Primary School in Techiman and<br />
Methodist L/A Primary School in<br />
Takoradi.<br />
Explaining the rationale for this<br />
•Nana Adu<br />
Kyeremateng presents<br />
school bags to officials<br />
of the school<br />
celebration, the Chief Operating<br />
Officer of Access Bank Ghana,<br />
Mr Ade Ologun, noted that the<br />
Bank was keen on raising the consciousness<br />
of its employees and<br />
other stakeholders on embracing<br />
green behaviour or responsible<br />
practices as an everyday life, so as<br />
not to jeopardize resources for use<br />
by future generations.<br />
Making one of the donations<br />
on behalf of the Bank to the<br />
Mantse Tackie ‘3’ KG & Primary<br />
School in Accra, the Head of Corporate<br />
Communications and<br />
Brand Management at Access<br />
Bank, Nana Adu Kyeremateng,<br />
said “Through our “Bag A Smile”<br />
initiative, we are converting tons<br />
of used banner materials and having<br />
them recycled into school bags<br />
as part of efforts to manage waste<br />
impact on the environment. This<br />
is because we have taken a serious<br />
view of protecting environment,<br />
so as we carry out our business we<br />
put the community at the centre of<br />
everything we do.”<br />
Commending Access Bank, the<br />
Circuit Supervisor of the Mantse<br />
Tackie ‘3’ KG & Primary, Reverend<br />
Charles Akafia, indicated<br />
that the bags will go a long way to<br />
benefit his pupils and also serve as<br />
a reminder to the students about<br />
the importance of recycling.<br />
“We thank Access Bank for this<br />
kind gesture and ask other corporate<br />
bodies to emulate their example,”<br />
Rev Akafia said.<br />
The Access Bank Sustainability<br />
Week was packed with series of<br />
events and activities which included<br />
carpooling, training sessions,<br />
sensitization on walking and<br />
healthy eating tips. Other activities<br />
included the screening of ‘Dry’,<br />
starring popular Nigerian actress<br />
Stephanie Linus, which higlights<br />
the effects of obstetric fistula, as<br />
part of creating awareness for the<br />
Bank’s “Fist against Fistula” initiative<br />
which was launched earlier in<br />
August this year.<br />
The Sustainability Awareness<br />
Week was replicated across all subsidiary<br />
locations of the Bank.<br />
Over the years, Access Bank has<br />
demonstrated its continued commitment<br />
to influence social, economic<br />
and environmental systems<br />
beyond making profits and continues<br />
to spearhead its sustainability<br />
drive through unrivalled investments<br />
in Education, Health, Environment,<br />
Sports and the Arts.<br />
Currently, Access Bank is<br />
ranked as one of the largest banks<br />
in Ghana by assets and is operating<br />
one of the largest branch networks<br />
in the country. The Group<br />
currently boasts a considerable<br />
number of award-winning sustainability<br />
initiatives since inception.