COCOBOD drops syndicated loans for 2025/2026 season
By Solomon Nartey Tetteh
The Ghana Cocoa Board (COCOBOD) has announced it will not seek syndicated loans to finance cocoa purchases for the 2025/2026 crop season, citing ongoing global shortages of cocoa beans.
In an interview with the media, COCOBOD’s Head of Public Affairs, Jerome Kwaku Sam, clarified that the Board did not secure a syndicated loan for the 2024/2025 season and has no intention of pursuing one this year either.
“We’re not doing syndication. To be honest, we didn’t do one in 2024, and we’re not doing one in 2025. The global cocoa shortage is a key reason why we’re moving away from syndicated financing,” he stated.
The COCOBOD Head of Public Affairs further explained that the decision was also driven by a desire to reduce costs amid current market conditions.
“We’re avoiding syndicated loans to eliminate additional expenses and related financial burdens. For now, that option is completely off the table,” he stressed.
His remarks follow a press briefing on August 4, where Finance Minister Dr. Cassiel Ato Forson announced a new producer price for cocoa.
The Minister acknowledged growing concerns over the long-term viability of Ghana’s syndicated loan model but indicated that the existing financing structure would remain in place for the time being. For decades, the nation has relied on syndicated loans from international lenders to pre-finance cocoa purchases at the start of each crop season.
