Tag: cocoa syndicated loan
-
US$600 million cocoa syndicated loan hits BoG’s accounts
The first tranche of the US$1.3 billion cocoa syndicated loan signed between Cocobod and some international financial institutions has hit the accounts of the central bank. An amount of US$600 million hit the Bank of Ghana’s accounts with the rest of the funds expected in the coming months. The government last month signed the US$1.3…
-
Cocobod seeking US$1.3bn syndicated loan for cocoa purchases
Cocobod has begun talks with some banks outside the country to help facilitate about US$1.3 billion needed to purchase cocoa beans in the upcoming 2019/2020 crop season. Chief Executive Officer of COCOBOD, Joseph Boahen Aidoo earlier told the media, “Initially we are expecting $1.3 billion. We tread cautiously even though our production has gone above…
-
Ghana, Cote d’Ivoire in historic meeting with cocoa buyers in Accra to discuss floor price
Ghana and Cote d’Ivoire will today begin a two-day meeting in Accra with buyers, processors of cocoa beans from all over the world to discuss proposals of setting a minimum price for the cocoa bean produced by the two countries. The meeting has been necessitated by the fact that the two countries only get US$6…
-
COCOBOD seeks US$2billion bond to clear ‘legacy’ debts
The Ghana Cocoa Board (COCOBOD) has disclosed its long term plan to issue a bond to correct the books of the company. The industry regulator believes the move should help it renew confidence amongst its lenders and sustain its role in developing Ghana’s cocoa sector. The bond is expected to raise about 2 billion dollars…
-
BoG to save cedi’s free fall with $650mn of cocoa syndicated loan
About 650 million dollars from the cocoa syndicated loan is to hit the Bank of Ghana’s account today. This is because the COCOBOD will make the first draw down from the loan to be lodged at the central bank’s account. The figure represents fifty percent of the 1.3 billion dollars that the Ghana COCOBOD secured…
-
COCOBOD loan to attract more local banks
More local banks are expected to take part in the syndicated loan for cocoa beans purchases for the 2017/18 crop season. This is the indication from the Ghana COCOBOD. The official signing ceremony for the loan agreement is scheduled for Wednesday, September 20, 2017. This will lead to the release of 1.3 billion dollars to…
-
Ghana to borrow $1.3bn for 2017/2018 cocoa purchases
Government has defended its decision to reduce the syndicated loan for cocoa beans purchases for the 2017/2018 crop season, by about 28 percent. The country will be seeking 1.3 billion dollars from its lenders for cocoa purchases for the next crop season which starts in October 2017. This amount is lower compared to the 1.8…
-
Ghana secures $1.8 bn for 2016/2017 cocoa purchases
Ghana has signed a 1.8 billion dollar loan facility for the purchase of cocoa beans for the 2016/2017 crop year. The facility comes with an all-inclusive rate of 1.468 percent. The agreement was reached at a ceremony between Ghana and representatives from 24 syndicated banks in Frankfurt, Germany Wednesday, September 21, 2016. Locally owned bank, Fidelity…