{
  "id": 10667276,
  "title": "COCOBOD says $1.4bn domestic funding is a strategic shift, not market exclusion",
  "url": "https://urgent.news/2026/09/29/cocobod-says-1-4bn-domestic-funding-is-a-strategic-shift-not-market",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-29T09:35:40.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/cocobod-says-1-4bn-domestic-funding-is-a-strategic-shift-not-market-exclusion/"
  },
  "original_language": "en",
  "account": "The Ghana Cocoa Board (COCOBOD) has dismissed claims that its decision to raise $1.4 billion from local investors to fund cocoa purchases for the 2026/2027 season is due to exclusion from international financial markets. The $1.4 billion investment, equivalent to approximately GH¢16.3 billion, marks a strategic shift away from COCOBOD's usual dependence on international borrowing for cocoa procurement. The Deputy Chief Executive Officer responsible for Finance and Administration, Ato Boateng, explained that the move reflects a deliberate change in strategy, informed by past experiences with international financing. Despite repeated inquiries from international banks about reinstating COCOBOD's participation in the global market, the board opted for a different approach, citing dissatisfaction with the behavior of certain international financiers during previous financial crises. Mr Boateng emphasized his preference for reliable domestic partners over fleeting international support, highlighting COCOBOD's past reliance on the buyer-financed model, which left its cocoa purchasing system vulnerable to market fluctuations. The board's previous financing arrangements, including a syndicated loan agreement with international banks that collapsed in 2023/2024, and a separate initiative by international trading houses to pre-finance cocoa purchases, both failed. Following these setbacks, COCOBOD's operating revenue grew to GH¢48.6 billion in 2025 from GH¢15.8 billion in 2024, and its net profit margin improved from a loss of 35.1% to 10.4%. The newly proposed domestic financing plan aims to support cocoa purchases for the 2026/2027 season, settle outstanding debts, and enhance financial stability in the cocoa sector.",
  "summary": "The Ghana Cocoa Board (COCOBOD) has rejected suggestions that its decision to raise $1.4 billion from domestic investors to finance cocoa purchases for the 2026/2027 season is the result of being shut out of international financial markets. The proposed financing, equivalent to about GH¢16.3 billion, represents a shift from COCOBOD’s traditional reliance on international borrowing […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "COCOBOD dismisses claims of international market exclusion, defends $1.4bn domestic financing shift",
        "url": "https://urgent.news/2026/09/29/cocobod-dismisses-claims-of-international-market-exclusion-defends-1",
        "published": "2026-09-29T09:35:40.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}