WE WILL ACHIEVE EFFICIENCY WITH THE NEW FUNDING MODEL - CHIEF EXECUTIVE

Date: 22nd July 2026

The Chief Executive of  Ghana Cocoa Board (COCOBOD), Dr. Ransford Anertey Abbey  has strongly indicated that the shift from the annual syndicated loan facility to domestic fund raising will promote efficiency in the Ghanaian cocoa sector. 

He said this when a delegation from the Ghana International Bank (GHIB) called on him and his management team at Cocoa House to apprise themselves of the new funding model for the 2026/27 Crop Year.

Speaking on the new arrangements, Dr. Anertey Abbey said indications are clear that Ghana can no longer rely entirely on the over three-decade-old cocoa syndicated loan facility. He cited its exposure to world cocoa price volatility, climate uncertainty, and the model's failure to support domestic value addition due to locking up nearly 80% of cocoa output.

He confirmed that fund advisors and managers have been engaged to work out the modalities for utilizing pension funds and cedi-denominated commercial papers/notes to fund cocoa purchases.

“The shift in policy in this regard forms part of the government's wider cocoa sector reform agenda to raise money domestically for cocoa operations,” he said.

Responding to questions raised by the GHIB team, Dr. Abbey noted that the new model is expected to fund the 2026/27 crop in August. He expressed optimism that the new model would be oversubscribed and successful in raising the needed funds for the country's cocoa regulator.

He also hinted at ongoing efforts to rally Nigeria and Cameroon to join the existing alliance between Ghana and Côte d’Ivoire to boost local value addition across member states while maintaining control over 70% of global cocoa output.

The COCOBOD Chief Executive further outlined plans to support local processing companies in adding value to raw cocoa, thereby reducing the export of raw beans to international markets.

The GHIB delegation commended COCOBOD management for what they described as open and frank discussions in the collective interest of both entities.