COCOBOD CEO woos investors with Ghana’s new cocoa financing model at New York forum
The Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Dr Ransford Anertey Abbey, has presented Ghana’s new cocoa financing model and outlined reforms aimed at strengthening the cocoa sector at the Africa Cocoa Finance & Investment Forum (ACFIF) in New York.
Dr. Ransford Anertey Abbey, the Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), recently unveiled Ghana's innovative cocoa financing model and proposed reforms at the Africa Cocoa Finance & Investment Forum (ACFIF) in New York. The presentation aimed to bolster the cocoa sector, enhance farmer earnings, and stimulate investment in the industry.
Dr. Abbey emphasized measures to boost farmer incomes, attract foreign capital, expand domestic cocoa processing capabilities, and construct a more resilient cocoa economy. He extended an invitation to investors to explore potential opportunities within Ghana's cocoa sector, highlighting the government's ambitious target of processing 50% of the country's cocoa beans domestically.
Dr. Abbey also showcased investment prospects in cocoa processing, sustainability, traceability, farm rejuvenation, and value addition, encouraging investors to collaborate with Ghana in developing these areas. This presentation comes as Ghana implements a novel cocoa financing framework spearheaded by Cocoa Capital PLC, which is mobilizing GH¢16.3 billion through a domestic securities program to fund cocoa purchases and alleviate existing debt obligations.
The scheme, according to COCOBOD, aims to diminish reliance on offshore syndicated loans and attract substantial domestic capital to the sector.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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