Search Results for: syndicated loan

COCOBOD SIGNS $1.13 BILLION SYNDICATED LOAN FOR 2022-2023 COCOA SEASON

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Ghana’s Cocoa regulator, COCOBOD, has agreed on a $1.13 billion syndicated loan to fund their Cocoa purchases for the 2022-2023 Cocoa season, which began October 7th.  Every year Ghana’s Cocoa purchases, mainly beans, are financed by loans from international banks. The leading banks involved with the loan include Cooperative Rabobank, the Industrial and Commercial Bank […]

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BANK OF GHANA EXPECTING FIRST TRANCHE OF COCOA SYNDICATED LOAN IN OCTOBER

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The Bank of Ghana (BoG) is expected to receive $910 million by October 2022 as the first tranche of COCOBOD’s $1.3 billion syndicated cocoa loan after it was approved by the Parliament of Ghana in July. African News sites are reporting that the second tranche of $390 million will come in November 2022 and be

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COCOBOD IN ARGUMENT OVER $1.3B LOAN DISBURSEMENT

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A Ghanaian MP has accused the Ghana Cocoa regulator, COCOBOD, of being unable to fully account for a $1.3 billion syndicated loan signed in 2019. Kwabena Mintah Akandoh, Member of Parliament for Juaboso, has questioned the whereabouts of the funds, saying that COCOBOD failed to provide any substantiation of its spending. The money was secured

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GHANA COCOA BOARD ALLEGEDLY LIED ABOUT GHANAIAN COCOA FARMERS’ INCOME?

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Is it time for Farmers to get paid in US Dollars? Copyright Note:The content of this publication should not be republished in any shape or form without official consent from the author. You can reach out to the author for publication discussions via Kwame.a.kwarteng@gmail.com. If you want the complete 5000 worded report sent to you

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Venezuela cocoa bag

COCOBOD USES DEBT TO PAY FARMERS AFTER BUMPER HARVEST

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Ghana’s regulator tightly controls the purchase and sales of the countries cocoa. In part, this is due to the countries reliance on US dollar debt at cheap rates secured on contracts with large chocolate companies. That money works to not only fund a large part of the countries foreign currency reserves but also to pay

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