Officials of the Bank of Ghana, Ghana Cocoa Board (COCOBOD) and banks in the country have reached an agreement to roll over maturing cocoa bills.
The parties reached the agreement at a meeting on Friday (20 January 2023).
“At a meeting held on Friday, 20th January 2023 among the banks, COCOBOD and Bank of Ghana (BoG), it was agreed that all institutional investors will roll over their maturing cocoa bill for Tender 6155. Financial institutions have agreed to roll over their cocoa bills investments.”
“COCOBOD has assured us that the outlook for the 2023 crop season is good, and cocoa purchasing are ahead of last year. We therefore expect that this short-term cash flow challenges facing Cocoa Board will be resolved soon to enable COCOBOD to meet its obligations to investors,” the BoG said in a statement on Monday (23 January).
Read the full statement below:
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