Grapevine

Where will COCOBOD get finance from?

Dr Godfred Seidu Jasaw

Deputy Ranking Member on the Agriculture, Food, and Cocoa Affairs Committee, Dr. Godfred Seidu Jasaw, has raised concerns about the Ghana Cocoa Board's (COCOBOD) decision not to seek external loans for the 2024/2025 cocoa season.

Dr. Jasaw questioned where COCOBOD intends to source the necessary funds, expressing doubts about the sustainability of the internal financing strategy announced by the organization.

“I think the question we should be asking is if COCOBOD is not going to take the external loan, where is it going to get the financing from?” he asked.

His concern comes after the Chief Executive Officer of COCOBOD, Joseph Boahen Aidoo announced that, for the first time in three decades, COCOBOD will not secure offshore syndicated loans to finance the purchase of cocoa beans for the 2024/2025 crop season.