Yara Ghana donates GHS200,000 to COVID-19 National Trust Fund

May 20, 2020

Yara Ghana Limited, a leading name in the fertilizer industry in Ghana has made a donation of GHS 200,000 to the COVID-19 National Trust Fund as part of its support to the country in the fight against the COVID -19 pandemic.

The West Africa Regional Director for Yara International, Mr. Danquah Addo-Yobo, made the presentation on behalf of the company at a short ceremony in Accra.

Speaking at the presentation ceremony, Mr. Danquah Addo-Yobo, stated that Yara Ghana Ltd. has been a partner of the country’s development especially in the agricultural space for several years, and this donation forms part of this continuous partnership and support especially during the COVID-19 pandemic.

He also said that, Yara Ghana as a strategic partner in the agricultural space in Ghana aside this donation, has also put in place measures to ensure that farmers have access to its quality fertilizers when and wherever they need it to ensure continuity in food production in order to ensure food security for the country during the pandemic.ADVERTISEMENT

“Yara Ghana has put in place a business continuity plan that has enabled us in the midst of this pandemic to make available our fertilizers and other crop nutrition solutions throughout the distribution chain to farmers across the country whilst adhering to strict safety standards and protocols. The farmers need to apply fertilizers at specific times and our products are in the market in time for the season to help ensure the country’s food security “he said.

Receiving the donation on behalf of the Trust Fund, Chairperson of the Board of Trustees of the COVID-19 Trust Fund, former Chief Justice, Justice Sophia Akuffo commended Yara Ghana for exhibiting good corporate citizenship. She also thanked the company for its work in the agricultural value chain.

She stated that the trust fund was set up by an Act of Parliament, the Novel Coronavirus (COVID-19) National Trust Fund Bill, 2020 to receive and manage contributions and donations from well-meaning individuals, groups and corporate bodies.

Beneficiaries of the Fund would be frontline and volunteers engaged in the combat of the COVID-19 pandemic as well as the vulnerable and the needy affected by the pandemic.

Present at the presentation ceremony was the West Africa Regional Chief Finance Officer for Yara, Mr. Kudjoe Agbenyega, the Marketing Officer of Yara Ghana, Mr. Kwame Okyere and Dr. Ernest Ofori Sarpong, a member of the board of trustees of the COVID-19 National Trust FundSource:Yara Ghana Limited

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Producer Price Inflation for April increased slightly to 7.4% – GSS

by Nerteley NetteyMay 20, 2020

New figures released by the Ghana Statistical Service, GSS, indicate that the Producer Price Inflation (PPI) for April 2020 increased to 7.4 percent.

This indicates a 0.6% point higher than the rate recorded in March 2020 which stood at 6.8%.

The Producer Price Index measures the average change over time in the prices received by domestic producers for the production of their goods and services.

In a statement issued by the Ghana Statistical Service, Government Statistician, Prof. Samuel K. Annim, explained that the increase in the PPI was mainly due to changes in the prices of gold.ADVERTISEMENT

“In the context of producer inflation, the increase of 0.6 on the year on year basis and 3.6 on a month on month basis is mainly attributed to changes in the prices of gold,” he said.

He further noted that the mining and quarrying sub-sector recorded the highest year on year producer price inflation rate of 38.0% followed by utility sub-sector with 12.1 %, while the manufacturing sub-sector recorded the lowest year on year producer inflation of 0.5%.

With respect to the monthly changes, mining and quarrying sub-sector recorded the highest inflation of 8.9% followed by the manufacturing sub-sector, 0.3% and the utility sub-sector recording the lowest rate of 0.1%.

However, the producer inflation rate in the petroleum sector declined to -15.3 in April 2020.

“The producer inflation rate in the petroleum sub-sector was 17.2 percent in April 2019. The rate declined continuously to record 1.2 percent in June 2019. However, it increased to 3.1 percent in August 2019, but declined again to -5.7 percent in October 2019. Thereafter, the rate increased consistently to record 20.6 percent in January 2020, but constantly declined to record -15.3 percent in April 2020,” the statement added

Source citibusinessnews