IEA’s Dr. Kwakye applauds COCOBOD’s bold move to ditch syndicated loans, calls for innovative financing
Dr. John Kwakye, Director of Research at the Institute of Economic Affairs (IEA), has expressed strong support for the Ghana Cocoa Board's (COCOBOD) decision to forgo syndicated loans for the upcoming cocoa season. He criticized the syndicated loan approach as flawed and advocated for innovative financing solutions. Dr. Kwakye's remarks follow COCOBOD CEO Joseph Boahen Aidoo's recent announcement that, for the first time in 30 years, the organization will not seek offshore syndicated loans to finance cocoa bean purchases for the 2024/2025 season. Instead, COCOBOD aims to fund the procurement of approximately 650,000 metric tonnes of cocoa beans entirely through...
