Dr. Ransford Anertey Abbey unveils GH₵16.3bn cocoa financing plan

Dr. Ransford Anertey Abbey, the CEO of Ghana Cocoa Board (COCOBOD), has introduced a new GH₵16.3 billion financing model designed to transform the country's cocoa sector. Speaking at the Africa Cocoa Finance and Investment Forum (ACFIF) in New York, Dr. Abbey presented the framework, which is being spearheaded by Cocoa Capital PLC. This initiative is structured to mobilize domestic and private capital to finance cocoa purchases, marking a strategic shift away from the industry's traditional reliance on expensive offshore loans.

The proposed securities programme is central to a broader vision to enhance domestic cocoa processing and value addition. Dr. Abbey emphasized that the government aims to process at least 50% of Ghana's cocoa beans locally, moving away from the historical trend of exporting the majority of beans in their raw state. By attracting private investment into processing facilities and climate-smart agricultural projects, COCOBOD seeks to secure a larger share of the global cocoa revenue for the country while simultaneously improving the incomes of local farmers.

Organised by Cocoa Trade and Invest Africa, the forum served as a platform for African cocoa-producing nations to showcase investment opportunities to global financiers and industry leaders. Discussions at the event highlighted the necessity of moving from a model of aid-dependency to one driven by sustainable investment. Experts underscored that Africa is increasingly viewed as a viable destination for climate-smart agricultural investments, which align with the new financing model’s focus on productivity and long-term sector sustainability.

This GH₵16.3 billion mobilization effort is expected to foster stronger partnerships between the government and the private sector. By reducing the cost of borrowing through domestic financing mechanisms, COCOBOD intends to create a more resilient and self-sustaining economic environment for the cocoa industry. The successful implementation of this model could provide a blueprint for other cocoa-producing countries in the sub-region, ensuring that more of the wealth generated by the industry remains within the continent to drive industrialisation.