COCOBOD sets up Cocoa Capital PLC to raise GH¢16.3bn for cocoa sector

The Ghana Cocoa Board (COCOBOD) has created Cocoa Capital PLC, a special-purpose company, to oversee a GH¢16.3 billion domestic fundraising initiative for the cocoa sector. Incorporation of Cocoa Capital PLC occurred on August 7, 2026, under the Companies Act, 2019. The company is wholly owned by COCOBOD and initially holds a paid-up capital of GH¢5 million. Its main objective is to raise funds and utilize them for approved cocoa-sector financing and refinancing activities.

Cocoa Capital PLC aims to accumulate GH¢16.3 billion, with GH¢14 billion sourced through commercial papers and GH¢2.3 billion through bonds. Commercial papers may have maturities of up to 270 days, while bonds may extend up to five years. The short-term working capital program will be executed in stages, with the initial tranche of GH¢4 billion followed by another GH¢4 billion and a concluding tranche of GH¢6 billion.

The actual amounts and timelines will be determined by COCOBOD's funding requirements, market conditions, and applicable program terms.

Institutions such as Absa, CalBank, Ficap Securities, GCB Bank PLC, One Africa Markets, and Stanbic Bank have been designated as joint lead managers and bookrunners for the issuance. The arrangement is designed to ensure that the proceeds from each issuance are utilized solely for approved purposes under the program, providing investors with added assurance that funds will be managed and deployed prudently.

COCOBOD officials view the initiative as a new chapter for the cocoa sector, reflecting ongoing reforms aimed at enhancing financial discipline and fostering a more sustainable value chain. The board asserts that these reforms are reshaping the cocoa sector and positioning cocoa as a long-term engine of shared prosperity for stakeholders.