- COCOBOD reverses plans to fully self-finance cocoa purchases, opting for a gradual transition
- Additional funding to be sourced from spot sales and direct payments from traders
Ghana’s Finance Minister, Dr Mohammed Amin Adam, announced that the Ghana Cocoa Board (COCOBOD) will tap into its traditional syndicated loan process to finance the upcoming cocoa season starting September 1. This move marks a reversal from recent indications by the cocoa regulator that it would break away from the 32-year reliance on syndicated loans to pursue self-financing.
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