Ghana: Don’t Relent in Effort to Locally Fund Cocoa Purchases!

After 32 years of contracting a syndicated loan annually to purchase cocoa from farmers in the country, the Ghana Cocoa Board (COCOBOD) says beginning from the 2024/2025 cocoa season, it will finance the purchase of cocoa beans and its operations domestically.

Over the past three decades, COCOBOD had been securing a syndicated loan each year, usually around August or September.

Going for syndicated loans to buy cocoa from the farmers at a fixed price and protect them from changes in global prices…