Omanghana
The Ghana Cocoa Board has secured GH¢3.39 billion, approximately US$288 million, through a domestic debt sale to support cocoa purchases for the 2026/2027 crop season.
The issuance was conducted through Cocoa Capital PLC, COCOBOD’s special-purpose financing vehicle, on Monday, October 5, 2026. The instruments carry an interest rate of 11 per cent and mature in June 2027.
Proceeds fell GH¢610 million short of the GH¢4 billion target. The funds are expected to provide liquidity to Licensed Buying Companies, which purchase beans from farmers on COCOBOD’s behalf.
The sale is the first of three planned tranches under a GH¢16.3 billion domestic financing program. Of that amount, GH¢14 billion is intended for seasonal cocoa purchases, while GH¢2.3 billion will support the restructuring of existing debt.
The move follows difficulties with international syndicated borrowing and subsequent trader-financing arrangements, which contributed to payment delays.
Buying companies have expressed concern about committing their own funds while awaiting reimbursement. The new proceeds could ease that pressure, although timely farmer payments will depend on disbursement to buyers.
Further issuances are planned during the season as COCOBOD seeks to close its financing gap.
Source: Omanghana
