COCOBOD raises GH¢3.396bn as it shifts cocoa financing to domestic market
Ghana Cocoa Board (COCOBOD) has raised GH¢3.396 billion from domestic institutional investors through the maiden commercial paper issuance of Cocoa Capital PLC, as the Board moves to reduce its reliance on external borrowing to finance cocoa purchases.
The Ghana Cocoa Board (COCOBOD) has successfully raised GH¢3.396 billion from domestic institutional investors through the maiden commercial paper issuance of Cocoa Capital PLC. This marks a significant shift in financing strategies for the cocoa industry, as COCOBOD aims to reduce its reliance on external borrowing for cocoa purchases.
The issuance is part of a larger GH¢16.3 billion Domestic Cocoa Notes Programme, which consists of GH¢14 billion in commercial paper and GH¢2.3 billion in bonds. The first series of this initiative, known as Series 1 (Tranche 1), has been admitted to the Ghana Fixed Income Market (GFIM) on the Ghana Stock Exchange, signaling a major step towards establishing a domestic financing framework for the cocoa sector.
COCOBOD's Chief Executive, Dr Ransford Anertey Abbey, emphasized that this new model will mobilize domestic liquidity, decrease dependence on offshore borrowing, and enhance the relationship between Ghana's capital market and the cocoa industry. The proceeds from the first series will provide working capital for cocoa purchases during the 2026/27 crop season, with a commitment to financial discipline, transparency, and accountability in managing the funds.
Brief written by urgent.news from 3News's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
