The Ghana Cocoa Board (COCOBOD) has announced that it will not pursue a syndicated loan to finance cocoa purchases for the 2025/2026 crop season, marking the second consecutive year it has opted out of this financing model.
This decision is attributed to the ongoing global shortage of cocoa beans, which has significantly affected the supply chain and reduced the need for pre-financing.
COCOBOD’s Head of Public Affairs, Jerome Kwaku Sam, stated in a Citi FM interview on Monday, August 4, 2025, that the Board won’t secure a syndicated loan for the 2025/2026 crop season, consistent with its decision in the 2024/2025 season.
“We’re not doing syndication. To be very honest, last year [2024], we didn’t do syndication, and this year [2025], we’re not doing syndication. What has necessitated us not to do syndication is that we’re experiencing a global shortage of the cocoa bean,” he said.
According to Jerome Kwaku Sam, the decision is aimed at avoiding additional overhead costs associated with the loan, given the current market conditions.
He noted that: “We’re not doing syndication whereby we’re going to incur additional expenses and what have you. That is out of the system or table for now.”
His remarks follow the recent announcement by Finance Minister Dr Cassiel Ato Forson on a new producer price for cocoa.
2025/2026 Cocoa Season: Gov’t raises Producer price by over 60%
