The Ghana Cocoa Board (COCOBOD) has secured 3.39 billion cedis ($288.02 million) through the issue of short-term debt \u200bon the domestic market, results of the debt \u200csale show, funding that should allow the regulator to boost purchases from farmers.<\/p>\n
The debt, issued on Monday, carried an interest rate \u200bof 11% and will mature in June 2027, \u200baccording to results of the debt auction shared \u2060by Cocoa Capital, the special purpose vehicle through which \u200bthe debt was issued. The target for the debt issue \u200bwas 4 billion cedis ($339.85 million).<\/p>\n
The funds are expected to allow Ghana, the second-largest cocoa producer, to begin disbursing money to licensed \u200bbuying companies (LBCs) to purchase cocoa from farmers.<\/p>\n
Ghana\u2019s new season opened \u200bon September 25, but LBCs had warned they would not buy cocoa \u200cwith \u2060their own funds and wait months to be repaid by COCOBOD, delaying purchases.<\/p>\n
This week’s issuance is the first of three planned tranches of debt under COCOBOD\u2019s 16.3 \u200bbillion cedis ($1.38 billion) domestic \u200bfinancing programme. \u2060The second and third tranches are expected to be issued during the current season.<\/p>\n
COCOBOD \u200bhas struggled to finance the sector since the collapse \u200bof \u2060its decades-old syndicated loan arrangement with international banks in the 2023\/24 season.<\/p>\n
A subsequent arrangement under which international traders financed \u2060cocoa \u200bpurchases also broke down, contributing to \u200bdelays in payments to farmers last season.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Ghana Cocoa Board (COCOBOD) has secured 3.39 billion cedis ($288.02 million) through the issue of short-term debt \u200bon the domestic market, results of the debt \u200csale show, funding that should allow the regulator to boost purchases from farmers. The debt, issued on Monday, carried an interest rate \u200bof 11% and will mature in June […]<\/p>\n","protected":false},"author":6,"featured_media":22237,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":3,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,2362,27],"tags":[158,5524],"class_list":["post-22236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-featured","category-west-africa","tag-ghana","tag-ghana-cocoa-board-cocobod"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=22236"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22236\/revisions"}],"predecessor-version":[{"id":22238,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22236\/revisions\/22238"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/22237"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=22236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=22236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=22236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}