No Result
View All Result
Wednesday, February 1, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Deadline for debt exchange program moved to February 7 with new terms

    Government finally makes progress on Debt Exchange Program

    Policy Rate increased by 100 basis points; now at 28%

    Africa loses $88bn annually through illicit financial flows – Akufo-Addo

    AMA to roll out digital revenue collection system in March 2023

    We will not layoff Vodafone staff – Telecel

    Petrol to sell for GHS15 in February – IES

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

  • TECHNOLOGY

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

    Telcos ready to begin deactivating unregistered SIMs – Chamber of Telecommunications

    Malagasy delegation completes tour of Ghanaian Fintechs and MFIs

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Deadline for debt exchange program moved to February 7 with new terms

    Government finally makes progress on Debt Exchange Program

    Policy Rate increased by 100 basis points; now at 28%

    Africa loses $88bn annually through illicit financial flows – Akufo-Addo

    AMA to roll out digital revenue collection system in March 2023

    We will not layoff Vodafone staff – Telecel

    Petrol to sell for GHS15 in February – IES

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

  • TECHNOLOGY

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

    Telcos ready to begin deactivating unregistered SIMs – Chamber of Telecommunications

    Malagasy delegation completes tour of Ghanaian Fintechs and MFIs

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

1.8 billion dollar cocoa money arrives in 3 weeks

bycitibusinessnews
September 17, 2015
in Business, Local Economy, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

Ghana’s 1.8 billion dollar cocoa syndicated loan is expected to hit the accounts of Ghana Cocoa Board in the first week of October,2015.

[contextly_sidebar id=”29NVqMtSAULitMQMvk1Mh4Iutu2oumrG”]This comes after cocobod signed the loan agreement with some 22 international banks to finance purchases for the 2015/16 season on 17th September, 2015.

This was confirmed to Citi Business News by COCOBOD’s Public Affairs Manager, Noah Amenyah.

ADVERTISEMENT

According to him the loan was oversubscribed by over 40 percent to 2.6 billion dollars but Cocobod took only 1.8 billion dollars as initially planned.

“The facility is an 11 month facility and so we will pay before we start the next crop season. The one that we took last year was with an interest rate of 1%  and was paid at the end of August…This one is 1.8 billion dollars and will attract the interest of 1.19%”, he stated.

The loan is expected to be used to purchase around 850,000 tonnes of cocoa for the upcoming crop season which starts on October 2,2015.

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

Harsh weather and poor farming practices affected crop yields this farming season leading to a 23% drop in projected yields.

Figures from Cocobod show purchases hit 700,000 tonnes in late August but the country might fail to realize its revised 750,000 tonne-target.

Cash from the 1.8 billion dollar cocoa syndicated loan is expected to help stabilize the cedi whose performance has not been stable this year.

Government official have repeatedly asserted that expected inflows of forex expected from the Eurobond, Cocoa Syndicated loan and IMF would help stabilize the cedi.

–

By:  Rabiu Alhassan/citifmonline.com/Ghana

Related Posts

Local Economy

Deadline for debt exchange program moved to February 7 with new terms

bycitibusinessnews

The deadline for government’s Domestic Debt Exchange Programme (DDEP) has been extended further to February 7, 2023, following the expiration...

Read more

Government finally makes progress on Debt Exchange Program

Policy Rate increased by 100 basis points; now at 28%

Africa loses $88bn annually through illicit financial flows – Akufo-Addo

AMA to roll out digital revenue collection system in March 2023

We will not layoff Vodafone staff – Telecel

Petrol to sell for GHS15 in February – IES

Next Post
Bank of Ghana

AGI lashes out at BOG for increasing policy rate

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.