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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    We want Ghanaians to own 30% of MTN Ghana shares by end of 2022 – GROUP CEO

    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

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Cocobod’s syndicated loan oversubscribed

bycitibusinessnews
September 11, 2014
in Banking And Finance, Top Stories
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Cocobod’s syndicated loan been oversubscribed by about 15percent.

The cocoa industry regulator, COCOBOD indicates it requested for 1.6billion dollars, but received offers of up to about 1.84billion dollars.

COCOBOD however accepted 1.7billion dollars from the partner banks to purchase cocoa beans for the 2014/2015 cocoa season.

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Finance Minister Seth Tekper early on in the year got parliamentary approval to accept as much as 2 billion dollars.

The signing was done at a ceremony in Paris, France earlier today.

The syndicate is made up 23 banks.

The lead banks were Commerce bank, Dutch bank, DZ bank and Nataxis bank.

Last year Cocobod signed a $1.2 billion syndicated loan from international banks for the 2013/14 cocoa crop purchases as against $1.5 billion for 2012/13.

By:  Anim Kwaku Boadu/citifmonline.com/Ghana

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