The Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Dr Ransford Anertey Abbey, has presented Ghana’s new cocoa financing model and outlined reforms aimed at strengthening the cocoa sector at the Africa Cocoa Finance & Investment Forum (ACFIF) in New York. The forum, which took place on Monday, provided a platform for Dr Abbey to highlight measures designed to improve farmer incomes, attract investment, expand domestic cocoa processing, and build a more resilient cocoa economy.
During his presentation, Dr Abbey invited investors to explore opportunities in Ghana’s cocoa industry, drawing attention to the government’s policy target of processing 50 per cent of the country’s cocoa beans locally. He also highlighted investment opportunities in cocoa processing, sustainability, traceability, farm rehabilitation, and value addition, urging investors to partner with Ghana in developing these areas.
The presentation comes as Ghana rolls out a new cocoa financing framework anchored by Cocoa Capital PLC, which is raising GH¢16.3 billion through a domestic securities programme to finance cocoa purchases and address legacy debt obligations. This initiative aims to reduce reliance on the traditional offshore syndicated loan arrangement and mobilise domestic capital for the sector.
According to COCOBOD, the new financing framework is expected to have a positive impact on the cocoa sector, enabling the country to better manage its cocoa production and improve the livelihoods of cocoa farmers. The framework is also expected to increase transparency and accountability in the cocoa industry.
Ghana is one of the world’s largest producers of cocoa, and the sector plays a crucial role in the country’s economy. The government has been working to improve the sector’s performance and increase its contribution to the economy. The new financing framework is part of these efforts.
The Africa Cocoa Finance & Investment Forum (ACFIF) is an annual event that brings together stakeholders from the cocoa industry to discuss issues related to cocoa production, processing, and trade. The forum provides a platform for investors, policymakers, and industry experts to share knowledge, experiences, and best practices.
Dr Abbey’s presentation at the forum was well-received by investors and industry experts, who expressed interest in exploring opportunities in Ghana’s cocoa sector. The COCOBOD CEO’s efforts to attract investment and promote Ghana’s cocoa industry are expected to have a positive impact on the sector and the economy as a whole.
Key points
- - Dr Ransford Anertey Abbey presents Ghana’s new cocoa financing model at the Africa Cocoa Finance & Investment Forum in New York. - The new financing framework aims to reduce reliance on traditional offshore syndicated loan arrangements and mobilise domestic capital for the sector. - The government’s policy target is to process 50 per cent of the country’s cocoa beans locally.
