No Result
View All Result
Tuesday, October 3, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    The Geopolitical Forces Driving Today’s Oil Market

    IMF raises concerns over the energy transition price tag

    Billion dollar opioid addiction market fuels Nigeria’s drug crisis

    Govt defaults on paying pension contributions for public sector workers

    Punitive domestic tariffs threaten African trade

    Traders bare teeth at GRA; issue ultimatum to govt over tax compliance exercise

    Prices of petroleum products to rise marginally in October – IES

    Dollar makes modest gains against Cedi in October amidst periods of relative stability

    Gross insurance premiums decline in H1; but industry outlook remains positive

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

    The Geopolitical Forces Driving Today’s Oil Market

    IMF raises concerns over the energy transition price tag

    Prices of petroleum products to rise marginally in October – IES

    FBNBank Ghana launches Akye promotion

    AGI advocates for innovative policies to support SMEs

    Transport owners and the missing NPA: who assured Sentuo to import BRVs?

    BOST clarifies amount paid for iPhones bought for company executives

    Fuel prices to remain fairly stable at the pumps – COPEC

    Restructuring NIB’s balance sheet won’t fix solvency challenges – Banking consultant cautions

  • TECHNOLOGY

    Nigeria Aims for $5 Billion Tech Investment by 2027

    Genius IT Foundation achieves STEM.org accreditation

    Pharmaceutical Society charged to utilize AI to transform industry

    Apple says iPhone and iPad apps will show up on the vision OS App Store from the get-go

    China launches $41 billion fund to accelerate semiconductor industry

    Digital marketing: Event managers urged to explore growth opportunities

    Govt. urged to commit more investments to enhance AI competencies

    Stakeholders in digital ecosystem charged to do more to protect child privacy

    Cyber hygiene key for public safety – Dr. Albert Antwi Boasiako

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

    Billion dollar opioid addiction market fuels Nigeria’s drug crisis

    Nigeria Aims for $5 Billion Tech Investment by 2027

    Punitive domestic tariffs threaten African trade

    South Africa adds Ghana to E Visa list

    Ofori-Atta commends G20 for AU’s inclusion, urges common voice

    Nine ventures announced for Africa Money and DeFi Summit investment showcase

    African Union to launch regional credit rating agency in 2024

    New study reveals alarming food access disparity affecting 650 million Africans

    Global food price index declines in August

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

    The Geopolitical Forces Driving Today’s Oil Market

    IMF raises concerns over the energy transition price tag

    Billion dollar opioid addiction market fuels Nigeria’s drug crisis

    Govt defaults on paying pension contributions for public sector workers

    Punitive domestic tariffs threaten African trade

    Traders bare teeth at GRA; issue ultimatum to govt over tax compliance exercise

    Prices of petroleum products to rise marginally in October – IES

    Dollar makes modest gains against Cedi in October amidst periods of relative stability

    Gross insurance premiums decline in H1; but industry outlook remains positive

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

    The Geopolitical Forces Driving Today’s Oil Market

    IMF raises concerns over the energy transition price tag

    Prices of petroleum products to rise marginally in October – IES

    FBNBank Ghana launches Akye promotion

    AGI advocates for innovative policies to support SMEs

    Transport owners and the missing NPA: who assured Sentuo to import BRVs?

    BOST clarifies amount paid for iPhones bought for company executives

    Fuel prices to remain fairly stable at the pumps – COPEC

    Restructuring NIB’s balance sheet won’t fix solvency challenges – Banking consultant cautions

  • TECHNOLOGY

    Nigeria Aims for $5 Billion Tech Investment by 2027

    Genius IT Foundation achieves STEM.org accreditation

    Pharmaceutical Society charged to utilize AI to transform industry

    Apple says iPhone and iPad apps will show up on the vision OS App Store from the get-go

    China launches $41 billion fund to accelerate semiconductor industry

    Digital marketing: Event managers urged to explore growth opportunities

    Govt. urged to commit more investments to enhance AI competencies

    Stakeholders in digital ecosystem charged to do more to protect child privacy

    Cyber hygiene key for public safety – Dr. Albert Antwi Boasiako

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

    Billion dollar opioid addiction market fuels Nigeria’s drug crisis

    Nigeria Aims for $5 Billion Tech Investment by 2027

    Punitive domestic tariffs threaten African trade

    South Africa adds Ghana to E Visa list

    Ofori-Atta commends G20 for AU’s inclusion, urges common voice

    Nine ventures announced for Africa Money and DeFi Summit investment showcase

    African Union to launch regional credit rating agency in 2024

    New study reveals alarming food access disparity affecting 650 million Africans

    Global food price index declines in August

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

Gov’t requests US$1.3 billion syndicated loan to purchase cocoa for 2020/2021 crop season

August 11, 2020
in Agribusiness, Top Stories
cocoa

cocoa

Share on FacebookShare on TwitterShare on Whatsapp

Government is seeking parliamentary approval to borrow US$1.3 billion to finance the purchase of cocoa for the 2020/2021 crop season.

An additional GHS6.5 million in tax waivers has also been presented to Parliament.

The requests were made before the Finance Committee of Parliament on Monday, August 10, 2020.

ADVERTISEMENT

The House is expected to debate and approve the request or otherwise before it goes on recess later this week.

It will be recalled that the government in 2019 signed the US$1.3 billion loan for the purchase of some 850,000 metric tonnes of cocoa beans from farmers for 2019/2020 crop season.

The amount was a cocoa syndicated loan signed between COCOBOD and some international financial institutions.

COCOBOD in 2019 increased the producer price of beans from GHS7,640 to GHS8,240 per tonne.

With the global fight against COVID-19, most international trading commodities have seen plummeting prices with cocoa also being affected.

The sector is currently in line to benefit from a US$600 million loan facility from the African Development Bank.

The agreement for the funds was signed in November 2019, but the money is yet to hit the accounts of the Bank of Ghana, due to procedural arrangements.

COCOBOD hopeful cocoa season won’t be impacted by Coronavirus

The Ghana Cocoa Board says it has put in place stringent measures to ensure that the 2020/2021 cocoa season is not negatively impacted by the novel coronavirus pandemic.

According to the regulator of Ghana’s cocoa sub-sector, farmers have been supplied with all necessary assistance to keep the production process on track.

Speaking to Citi News, the Chief Executive of COCOBOD, Joseph Boahen Aidoo said farmers were being prepared to take advantage of the critical flowering season.

For this, he said there would be a new emphasis on pruning.

Source: Duke Mensah Opoku / Citinewsroom.com
Tags: COCOBOD
Previous Post

ADB encourages customers to update their records

Next Post

Tips on partnerships and financing options for startups

Next Post
The Author, Felix Eshun.

Tips on partnerships and financing options for startups

Accra Kotoka International Airport Arrivals
ADVERTISEMENT
Citi Business News

© 2023 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

© 2023 Citi Business News - CitiBusinessNews.com by CNR Digital.