COCOBOD Launches GH"16.3 Billion Domestic Funding Drive as Leadership Engages Global Partners for 2026/27 Season

The Ghana Cocoa Board (COCOBOD) is embarking on a significant strategic shift in its financing model, moving away from its traditional reliance on offshore syndicated loans toward the domestic capital market. Under the leadership of Chief Executive Dr. Ransford Abbey, the board aims to raise GH₵16.3 billion (approximately $1.4 billion) to fund cocoa purchases for the upcoming season and refinance existing obligations. This transition coincides with high-level diplomatic engagements in London, where COCOBOD officials are meeting with international trading partners to solidify Ghana’s position as a premier global cocoa supplier ahead of the 2026/27 season.

To facilitate this domestic fund-raising effort, COCOBOD has established a special purpose vehicle known as Cocoa Capital PLC. This entity is slated to launch a Cocoa Note Programme, which includes the issuance of a GH₵2.3 billion bond and GH₵4 billion in commercial paper. The decision to pivot to local markets follows challenges in securing traditional funding arrangements with international banks and trading houses. The capital raised will be critical for maintaining liquidity and supporting the Licensed Buying Companies (LBCs) that form the backbone of the internal marketing chain.

The urgency of this financing program is underscored by mounting pressure within the sector. COCOBOD currently faces approximately GH₵4 billion in pending payments to licensed buying firms and farmers from the previous season. Furthermore, the official opening of the new cocoa season, typically expected in September, has faced delays. While neighboring Ivory Coast has already commenced its season, Ghana’s start remains unannounced, adding further weight to the need for a swift and successful mobilization of domestic capital to ensure a smooth industry rollout.

Parallel to these financial maneuvers, Dr. Abbey and his deputy, Mr. Ato Boateng, held constructive dialogues in London with major global cocoa trading and processing firms. Facilitated by the Ghana Cocoa Marketing Company (UK) Ltd., these discussions centered on the Ghana Cocoa Board Act, financing frameworks, and sustainability initiatives. By prioritizing transparency and collaboration with international stakeholders, COCOBOD seeks to reinforce confidence in the Ghanaian cocoa industry. These efforts are designed to ensure that despite the shifts in financing strategy, Ghana remains a reliable and transparent partner in the global cocoa supply chain.