Ghana COCOBOD Ditches Offshore Loans

Ghana COCOBOD says it will not raise cocoa propagated loans for beans procurement in the 2024/25 season, which is expected to open on September 1.

The Chief Executive of COCOBOD, Joseph Aidoo Boahen held a media briefing that the Board had decided to finance the procurements internally.

Quoting him he said” we’ve learned our lessons, and we think that its high time, we detach ourselves from the offshore international financial markets and finance the crop ourselves here. And that’s exactly what we are going to do.

“The money will come locally; we are going to be self-financing. We have a clear idea of what we are going to do, how much we need and where the money will come from,” he added.
The board also reduced its target for the season to 650,000 tones from 810, 000.
From the international market for the season, COCOBOD had planned to raise1.5 billion dollars.