Ghana COCOBOD signs US$1.5 billion syndicated finance facility for 2021/2022 cocoa season

GHANA – World’s second largest cocoa producing country, Ghana, is set to receive US$1.5 billion financing from a consortium of local and international financial institutions, to finance cocoa purchases for the 2021/2022 Cocoa Season. The sector’s regulatory body, Ghana Cocoa Board (COCOBOD) inked the multi-billion-dollar Pre-export Syndicated Finance agreement with a total of 28 institutions, made up of 4 local and 24 international financial institutions. The Initial Mandated Lead Arrangers were Standard Charted Bank, Industrial and Commercial Bank of China, Coöperatieve Rabobank, MUFG Bank Ltd, Natixis, Nedbank Ltd and Ghana…

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Ghana, Ivory Coast to attain bullish cocoa production in 2020/21 season further stamping dominance in sector

GHANA – Ghana, world’s second largest cocoa producer and exporter, is expected to set a new record high of cocoa production in the 2020/21 season. According to the Ghana Cocoa Board, the current season’s production is forecasted to reach 1.06 million tonnes, as 1.03 million tonnes has already been recorded with and only six weeks left to end of season. The already attained production beats the previous record of 1.024 million metric tonnes registered in the 2010/ 2011 crop season. It is also higher that the out-put registered in 2019/2020…

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Ghana COCOBOD collaborates with Ghanaian scientist to foster cocoa-based human health research

GHANA – Ghana Cocoa Board (COCOBOD) is seeking to expand the use of cocoa beyond the confectionery and cosmetic industries, into the health sector. The government-controlled institution is collaborating with some fellows of the Ghana Academy of Arts and Sciences (GAAS) to conduct research into components of cocoa that can aid in the management of some life-threatening infections and metabolic diseases globally. According to healthline, cocoa is rich in polyphenols, naturally occurring antioxidants that aid in reduction of high-blood pressure, lower risk of heart attack and stroke, improve blood flow…

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Bühler supports Ghana in building capacity of cocoa industry, Ivory Coast-Ghana Cocoa Initiative names Chairperson

GHANA – Ghana Cocoa Board (COCOBOD) has signed an agreement with Bühler, one of the world’s leading plant equipment manufacturer, to build Ghana’s local cocoa processing and value addition capacity through training, product development and technology guidance. This is in line with the government’s plan to significantly increase the portion of Ghana’s cocoa which is processed locally to meet both the sub-regional and international consumption demands. Speaking at the signing ceremony, at Bühler’s Cocoa Competence Centre in Abidjan, Hon Joseph Boahen Aidoo, the Chief Executive of COCOBOD, said the agreement…

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Ivory Coast, Ghana strengthens cocoa alliance to safeguard sector priorities

WEST AFRICA – Ivory Coast and Ghana, the two West African nations who together produce more than 60% of the world’s cocoa, have pledged to further strengthen and expand the existing economic relations on cocoa and other related matters between their respective countries. In August 2020, the two countries formed the Ivory Coast-Ghana Cocoa Initiative (ICCIG) aimed to promote their cocoa industries internationally and defend their collective position in the global market. To that end, the two countries are expected to expedite action on the setting up of a permanent…

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Ghana boosts local consumption of cocoa-derivative products with week-long chocolate campaign

GHANA – Ghana Cocoa Board (COCOBOD) in partnership with Ghana Tourism Authority, Ghana Investment Promotion Centre, cocoa processing companies and other stakeholders in the cocoa industry have officially launched the 2021 National Chocolate week. The event which commenced on 8th – 14th February is aimed to promote the consumption of chocolate and cocoa products in one of the world’s leading cocoa producing companies. Carried out under the theme: Eat Chocolate; Stay Healthy; Grow Ghana, the event is packed with activities to encourage the consumption of chocolate confectionery, beverages, and chocolate-infused…

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Ghana COCOBOD opens first farmer-owned cocoa fermentation centre

GHANA – The Ghana Cocoa Board (COCOBOD) has opened the first farmer-owned cocoa fermentation centre in the country under its Fine-Flavour cocoa production initiative. The fermentation centre comes as a great relief to farmers and will eliminate theft of cocoa and exposure of cocoa beans to bad weather conditions during the post-harvest processes. According to reports by Africa Agribusiness, its development was jointly funded by Tachibana & Co. Ltd., Guittard Chocolate, Transroyal Ghana Limited and COCOBOD with technical support from the Cocoa Research Institute of Ghana (CRIG). During the official…

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Ghana Cocoa Board rolls out online portal dubbed Cocoa Management System

GHANA – The Ghana Cocoa Board (COCOBOD) has introduced the Cocoa Management System, a comprehensive and integrated farmer database, to inform its operations and ensure effective and efficient management of the cocoa industry. The CMS is an online portal that will capture the demographics of cocoa farmers, farm sizes, input supplies, payment transactions and facilitate the roll out of the Cocoa Farmers’ Pension Scheme, reports Ghana News Agency. The system termed as a game-changer for the industry, will enhance transparency and be a link between the farmer, COCOBOD, service providers,…

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Ghana COCOBOD launches US$600m syndicated loan facility to boost sector operations

GHANA – The Ghana Cocoa Board (COCOBOD) has officially launched the US$600 million syndicated loan facility which it signed with some Development Finance Institutions (DFI) to finance key components of the organisation’s productivity enhancement programmes. The loan facility aims to implement production, warehousing and processing interventions, adding value to Ghana’s cocoa sector. Mr Joseph Boahen Aidoo, CEO of Ghana Cocoa Board, speaking at the launch revealed that the organization has received the first tranche of US$200 million out of the US$600 million cocoa syndicated loan facility. “We are gathered here today to…

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Ghana’s Ministry of Food and Agriculture to take over COCOBOD operations

GHANA – The Ministry of Food and Agriculture (MoFA) of Ghana is set to begin exercising formal ministerial responsibility over Ghana Cocoa Board (COCOBOD) as processes to legalize the new regime are nearing completion. This follows the second reading of the Ghana Cocoa Board (Amendment) Bill, 2017 last week in parliament, reports GhanaWeb. The goal of the Ghana Cocoa Board (Amendment) Bill seeks to modify Section 39 of the Provincial National Defense Council (PNDC) Law 81, which established COCOBOD, to vest ministerial responsibility of the activities of the Board in…

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