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. Speaking at the forum on Monday, Dr Abbey highlighted measures designed to improve […]
Dr. Ransford Anertey Abbey, the Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), recently unveiled Ghana's innovative cocoa financing model at the Africa Cocoa Finance & Investment Forum (ACFIF) in New York. The reforms aim to bolster the cocoa sector, enhance farmer incomes, attract investment, and increase domestic cocoa processing.
During his presentation, Dr. Abbey emphasized the government's objective of processing 50% of Ghana's cocoa beans locally. He also highlighted various investment opportunities within cocoa processing, sustainability, traceability, farm rehabilitation, and value addition, urging investors to collaborate with Ghana in these sectors.
Ghana is currently implementing a new cocoa financing framework spearheaded by Cocoa Capital PLC. The initiative aims to raise GH¢16.3 billion through a domestic securities program, which will finance cocoa purchases and address the sector's legacy debt obligations. This approach, according to COCOBOD, is anticipated to diminish reliance on the conventional offshore syndicated loan arrangement and stimulate domestic capital for the cocoa industry.
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