Cocoa Capital PLC has listed GH¢3.39billion of commercial paper on the Ghana Fixed Income Market (GFIM), marking a shift in how the Ghana Cocoa Board (COCOBOD) finances cocoa purchases as it seeks to reduce reliance on offshore borrowing.
The first test of COCOBOD’s new domestic financing model has produced GH¢3.39billion, falling short of the GH¢4billion target and putting investor appetite for the board’s planned GH¢16.3billion funding programme under scrutiny.
Amid Ghana Cocoa Board’s (COCOBOD) restructuring of how it finances cocoa purchases for the 2026/27 season, the board is confident that the crop proportion used as collateral will remain below 60 percent.
The Ghana Cocoa Board (COCOBOD) appears to be removing key obstacles ahead of its planned return to the domestic capital market, having completed its mandatory payment obligations to bondholders under the Domestic Debt Exchange Programme (DDEP) for 2026.
Get the latest commodities news delivered to your inbox.
