The Ghanaian cocoa council (Cocoaboard) wants to anticipate the purchase of beans from planters by raising on the local and international capital market, USD 2 billion for the next cocoa campaign, revealed its boss, Ray Ankrah, who was at Abidjan on June 22, 2021 for the first meeting of the national committee of the Côte d’Ivoire Ghana Cocoa Initiative.
This fundraising, which responds to the pre-financing of the 2021-2022 campaign, will allow producers to return directly to their fund after the direct sale of their beans to this Ghanaian institution. The operation is also a boon for subscribers who get their return on investment in the short term.
For the previous campaign, the cocoaboard had signed a syndicated loan of 1.3 billion dollars with 24 banks, after a reluctance displayed by them due to the health crisis of Covid-19.
The second largest producer in the world behind the Ivory Coast, Ghana, with its 800,000 smallholders, accounts for about 20% of the global supply of cocoa beans, which represents 30% of the country’s total exports. The two neighboring countries of West Africa account for 60% of the world supply of brown gold, but only collect 6% of the $ 100 billion a year that the world cocoa and chocolate market represents.