Ghana’s leading cocoa buyer seeks US$100m to boost operations

GHANA – The Produce Buying Company (PBC) Limited, Ghana’s biggest cocoa buyer, seeks to raise US$100 million from international banks help the firm sustain its operation and settle its obligations. According to the firm’s deputy chief executive officer, Kojo Safo, the transaction, handled by an Accra-based advisory firm, should be completed before the start of…

Ghana embarks on efforts to revamp coffee sector, mulls new database

GHANA – The Coffee Federation of Ghana (CFG) has embarked on efforts that seek to revitalise the coffee industry in the country by rolling out initiatives aimed at increasing production of the commodity. As one of its mandates to support all aspects of the coffee value chain in Ghana through advocacy and networking, CFG has…

Ghana’s cocoa regulator secures US$300m facility to boost cocoa production

GHANA - The Ghana Cocoa Board (COCOCBOD), the cocoa regulator in the country has signed a new 3-year receivables-backed trade finance facility of US$300m that aims to boost Ghana’s cocoa production. According to a report by GhanaWeb, the facility will be used to refinance Cocoa Bills raised by Bank of Ghana on behalf of COCOBOD…

Ghana, Cote D’Ivoire cocoa regulators halt cocoa ISO certification

GHANA – Cocoa regulators in Ghana and Cote D’Ivoire, the Ghana Cocoa Board (COCOBOD) and the Le Counsel du Café Cacao respectively, have objected to the subscription to International Standard Organization (ISO) 34101 certification. According to a report by the GhanaWeb, the cocoa regulators argued that the ISO 34101 Standards on Sustainable and Traceable Cocoa…

Leading cocoa producer, Ivory Coast adopts new cocoa trading system

IVORY COAST – World's leading cocoa producing country, Ivory Coast, revealed that it has commenced trading its cocoa directly to the world’s top traders, switching from its previously used system- through auctions. According to the Coffee and Cocoa Council (CCC) in Ivory Coast, the country managed to sell 400, 000 tonnes of cocoa under the…

Ghana seeks US$300m to prop up underperforming cocoa regulator

GHANA – Ghana has embarked on engaging lenders as it seeks to raise US$300 million in credit to support the country’s cocoa regulator, Cocoa Board (COCOBOD), which has been struggling with losses. Ghana Cocoa Board, is struggling to cover its expenses after keeping farmers’ minimum pay unchanged for three season straight, despite a decline in…

Ghana’s COCOBOD expects cocoa production to reach 1.5MMT in 5 years

GHANA - Ghana Cocoa Board (COCOBOD) has said that it expects cocoa production to increase to 1.3 – 1.5 million metric tons within the next three-to-five years as a result of several investments made in the sector, reports GNA. According to Mr Joseph Boahen Aidoo, CEO of Ghana Cocoa Board, this will help boost export…