Access Bank and IFC Seal $134 Million Cocoa Sector Risk-Sharing Deal
By Praisebell Rosemond Larbi
Access Bank Ghana Plc and the International Finance Corporation (IFC) have formalised a $134 million risk-sharing arrangement aimed at easing chronic financing constraints within Ghana’s cocoa value chain and strengthening one of the country’s most strategic export sectors.
The partnership, sealed through the signing of a Memorandum of Understanding (MoU) on Friday, January 23, 2026, is designed to close the persistent funding gap confronting Licensed Buying Companies (LBCs), which play a critical intermediary role between smallholder cocoa farmers and the international market.
By improving access to affordable credit and enhancing liquidity during the peak purchasing season, the initiative is expected to boost productivity, improve resilience, and promote sustainability across the cocoa sector, which supports the livelihoods of more than 800,000 farm families nationwide and remains a major contributor to foreign exchange earnings.
The $134 Million Financial Architecture
The financing arrangement is structured as an unfunded risk-participation facility. Under the agreement, the IFC, drawing on its own balance sheet and support from the Global Agriculture and Food Security Program (GAFSP), will provide up to $67 million in risk coverage.
This risk mitigation enables Access Bank Ghana to match the facility and extend a total of $134 million in financing to seven leading Licensed Buying Companies operating within the cocoa sector.
The structure is specifically designed to overcome long-standing constraints such as regulatory capital requirements and single-obligor limits, which have historically restricted the ability of local banks to lend at the scale required to support cocoa purchases nationwide.
A National Priority: Bank of Ghana Weighs In
The Second Deputy Governor of the Bank of Ghana, Mrs Matilda Asante-Asiedu, was present at the signing ceremony, underscoring the regulator’s support for the initiative and its alignment with national economic priorities.
She described the risk-sharing arrangement as a critical intervention to strengthen economic resilience, particularly within the agricultural sector.
“The risk-sharing guarantee scheme represents a strategic partnership to unlock opportunities across the agricultural sector, particularly cocoa,” Mrs Asante-Asiedu stated.
She added that ensuring adequate liquidity for Licensed Buying Companies is of national importance, noting that a stable cocoa sector supports rural incomes, underpins export revenues, and contributes to overall exchange rate stability and macroeconomic balance.
Empowering the “Backbone” of the Economy
Speaking at the ceremony in Accra, the Managing Director of Access Bank Ghana, Pearl Nkrumah, described the agreement as a deliberate effort to unlock the full potential of Ghana’s cocoa industry.
“Access Bank’s support to LBCs will unlock the liquidity they need during the purchasing season, help improve traceability, and encourage more sustainable sourcing practices that will position the cocoa sector for long-term competitiveness,” she said.
Ms Nkrumah emphasised the bank’s commitment to responsible and scalable financing, stressing that a stable cocoa ecosystem is essential to ensuring timely payments to farmers and sustaining confidence across the value chain.
Sustainability and Job Creation
The IFC Division Director for West Africa, Natalie Kouassi Akon, highlighted the broader development impact of the partnership, particularly its potential to transform agriculture into a driver of employment and inclusive growth.
“Our partnership with Access Bank will help local buying companies secure the liquidity they need to purchase cocoa beans from smallholder farmers while promoting sustainability, climate-smart agriculture and stronger rural economies,” Ms Akon noted.
She added that a key focus of the facility is traceability and compliance with emerging global standards. The funding will support the procurement of sustainably produced cocoa beans and help LBCs meet requirements such as Rainforest Alliance certification and the European Union Deforestation Regulation (EUDR), thereby safeguarding Ghana’s access to premium international markets.
