Tag: COCOBOD syndicated loan
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Interest rate disparity limits capacity of local banks to take up cocoa syndicated loan – Banking Consultant
Banking Consultant, Nana Otuo Acheampong, has cast doubt on the ability of local banks to take over the annual syndicated loan arrangement for the purchasing of cocoa beans from farmers by COCOBOD. His comment follows recent calls by the Board Chairman of COCOBOD, Hackman Owusu-Agyemang, for local banks to build their capacity play a critical…
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Local banks must fully fund cocoa syndicated loan in future – Hackman Owusu-Agyemang
Board Chairman of COCOBOD, Hackman Owusu-Agyemang, has urged local banks and financial institutions to strategically position themselves, so they are able to fully provide the loan COCOBOD needs to purchase cocoa beans in the not too distant future. Since the 1992/1993 cocoa crop season Ghana’s cocoa sector regulator, has been signing syndicated loan facilities with…
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COCOBOD secures $1.3 billion syndicated loan; first tranche expected by October 10
Chief Executive Officer of Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo says the first tranche of the newly signed $1.3 billion syndicated loan facility which will cater for the purchase of cocoa beans for the 2020/2021 crop season should hit their accounts by October 10, 2020. The agreement for the loan was signed in Accra…
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Cocobod to borrow US$1.3 billion in syndicated loans
Ghana Cocoa Board will raise US$1.3 billion in syndicated loans for its operations in the 2019/2020 season, the Minister of Finance Ken Ofori-Atta announced in Parliament on Monday. The programmes include, hand pollination/pruning of cocoa farms, rehabilitation of diseased and over-aged farms, irrigation in dry seasons, and farmer database, among others. It was meant to…
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COCOBOD seals $1.3bn cocoa syndicated loan agreement
The Ghana Cocoa Board has completed a 1.3 billion dollar syndicated loan agreement for cocoa beans purchases for the 2018/2019 crop season. The agreement is with twenty one banks including Barclays Bank Ghana, Stanbic bank Ghana as well as Societe General. The cocoa syndicated loan is to help the cocoa industry regulator make upfront purchases…
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Cedi depreciation to hit 4th quarter
The cedi should begin its losing streak against the dollar from next month (October) if nothing is done to stem the situation. This is the caution from currency analysts. Their arguments are premised on the potential rise in the demand for the dollar by importers and vendors ahead of the festive season. Citi Business News’…