A farmer dries cocoa beans at Akakro a village in Sinfra, Ivory Coast April 29, 2023. Photo credit: Reuters
The Ghana Cocoa Board (COCOBOD) has announced that it will not pursue a syndicated loan to finance cocoa purchases for the 2025/26 crop season, attributing the decision to the ongoing global shortage of cocoa beans.
Speaking in an interview on Citi FM on Monday, 4 August, COCOBOD’s Head of Public Affairs, Jerome Kwaku Sam, stated unequivocally that the Board had not sought syndicated financing for the 2024/2025 season and had no intention of doing so this year either.
“We’re not doing syndication. To be very honest, last year [2024], we didn’t do syndication, and this year [2025], we’re not doing syndication. What has necessitated us not to do syndication is that we’re experiencing a global shortage of the cocoa bean,” he said.
Mr Sam further noted that the move also reflects a strategic effort to reduce costs under prevailing market conditions.
“We’re not doing syndication whereby we’re going to incur additional expenses and what have you. That is out of the system or table for now,” he emphasised.
His remarks follow the recent announcement by Finance Minister Dr Cassiel Ato Forson on a new producer price for cocoa.
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