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…

Kenya mulls commercial cocoa farming as investor launches cocoa production project

KENYA – Kenya is set to join the continent’s leading cocoa producers following latest development that has seen the Kenya Agricultural Research Organisation (KALRO) successfully conduct a feasibility study on the crop viability in the Coast region. The study conducted by KALRO in collaboration with Kilimo Sasa Fund (KSF) has also paved way for the…

Barry Callebaut inaugurates new unit in Côte d’Ivoire to grow cocoa processing capabilities

CÔTE D’IVOIRE - Barry Callebaut, a leading manufacturer of high-quality cocoa and chocolate products, has inaugurated a new state-of-the-art processing unit in its plant at Abidjan, Côte d’Ivoire. Callebaut said that the new grinding unit at its Zone 4C Société Africaine de Cacao (SACO) plant is part of an overall strategic investment to expand cocoa…

Solidaridad launches US$34.82m projects to boost cocoa, palm oil production in West Africa

WEST AFRICA - Solidaridad, an international non-governmental organisation, has launched two projects to boost cocoa and palm oil production in the West Africa region at an investment worth US$34.82 million. According to a Ghana News Agency report, the Cocoa Rehabilitation and Intensification Programme (CORIP) and Sustainable West Africa Palm Oil Programmes (SWAPP) will be implemented…

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…

Ghana’s Niche Confectionery unveils 12 new variants in its chocolate portfolio

GHANA – Niche Confectionery Limited, a chocolate manufacturer and subsidiary of Niche Cocoa Ltd Ghana, launched 12 more varieties of its Niche Chocolate products. The company said the products include; extra dark (72% cocoa), dark (56% cocoa), milk (38% cocoa) and nine milk chocolate flavours; coconut, ginger, orange, strawberry, banana, mango, lime, honey and coffee.…

Ghana’s Afrotropic commissions US$30m cocoa processing plant

GHANA – Ghana’s Afrotropic Cocoa Processing Limited (ACPL), has commissioned a new cocoa processing factory, an investment valued at US$30 million with a capacity to process 15,000 tonnes of cocoa beans, reports Ghanaian Times. The factory will be processing cocoa beans into cocoa nibs, cocoa liquor, deodorised cocoa butter and cocoa cake. Speaking during the…

Cocoa prices expected to increase amid poor weather conditions

NIGERIA - A Financial Derivatives Company’s (FDC’s) commodity updated has projected an increase in coca prices at the international market due to persisting poor weather conditions in the major producing countries. According to the Daily Independent, FDC analysts said that although cocoa prices were down by 2.86% to $2,274 per metric ton in the past…

GSA Partners Nestlé Ghana to enhance quality standards

GHANA - The Ghana Standards Authority (GSA) and Nestlé Ghana Limited have signed a Memorandum of Understanding (MoU) to forge a strong cooperation in the sharing of scientific and technical information, reports Ghana News Agency. The Public-Private-Partnership agreement seeks to enhance laboratory analytical methods alignment and capacity building in laboratory testing of food products to…