Cocobod Signs 2012 / 2013 Syndicated Loan Facility

COCOBOD has signed a 1.5 billion dollar pre-export finance agreement for the 2012/2013 cocoa season. The deal was financed by 31 local international banks, including Standard Chartered Bank, Barclays Bank and Ghana International Banks Plc. The Ghana International Bank showcased the new system for collection of proceeds for cocoa sold by the CMC. The amount is however lower than last year's 2 billion dollar facility, but registered as one of the largest trade finance facility in Africa.

Explaining the drop in the among, the Chief Executive, Anthony Fofie explained that, the amount was judged to be right for the amount of cocoa expected to be bought during the 2012 / 13 cocoa seasons.

This year's facility marks the 20th anniversary of syndicated loan deal of the Cocoa Board, which started with Chemical Bank in 1992. The continued interest of internal financial institutions demonstrates their confidence in Ghana's economy.

Contact Details

Cocoa Marketing Company (gh) Ltd
Post Office Box 1017
Room 302, Cocoa House/
Accra, Ghana.

0233-21-668281/668352/ 668464