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 showcased Ghana’s innovative cocoa financing model and reform initiatives at the Africa Cocoa Finance & Investment Forum (ACFIF) in New York. During his presentation, Dr. Abbey emphasized measures to enhance farmer earnings, attract investments, boost domestic cocoa processing, and establish a more robust cocoa sector.
He extended an invitation to potential investors to explore opportunities in Ghana’s cocoa industry, emphasizing the government's commitment to processing 50% of the country’s cocoa beans locally. Dr. Abbey also highlighted investment prospects in cocoa processing, sustainability, traceability, farm rehabilitation, and value addition, urging investors to collaborate with Ghana in these sectors.
This announcement coincides with Ghana's implementation of a new cocoa financing framework spearheaded by Cocoa Capital PLC. The framework aims to raise GH¢16.3 billion through a domestic securities program, which seeks to purchase cocoa and address past debt obligations. According to COCOBOD, this approach will decrease reliance on traditional offshore syndicated loans and attract domestic capital to the sector.
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