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World Bank Flags Energy and Cocoa Debts

World Bank Flags Energy and Cocoa Debts

Ghana’s fragile fiscal rebound is under pressure from mounting debts in the energy and cocoa sectors, the World Bank has warned. In its latest Ghana Economic Update, the Bank said the Electricity Company of Ghana

Business
COCOBOD Faces $1.3 Billion Losses as Cocoa Forward Contracts Backfire

COCOBOD Faces $1.3 Billion Losses as Cocoa Forward Contracts Backfire

Ghana’s cocoa sector is in crisis as the Ghana Cocoa Board (COCOBOD) faces an estimated $1.3 billion in losses due to the rollover of undelivered forward contracts from the 2023/2024 crop season. COCOBOD was unable

Business
Ghana expects 2024/25 cocoa production resurgence

Ghana expects 2024/25 cocoa production resurgence

Ghana's cocoa production is expected to rebound in the 2024/25 crop season, buoyed by favourable weather conditions, according to local farmers, officials from regulatory body Cocobod, and buyers. However, challenges such as illegal gold mining,

Business
Financial Institutions Urged to Support Promising Coffee Businesses for Sector Growth

Financial Institutions Urged to Support Promising Coffee Businesses for Sector Growth

Samuel Adomako, Vice President of the Coffee Federation of Ghana, has called on financial institutions to extend their support to promising coffee businesses to foster growth in the sector. Speaking at the maiden Ghana Coffee

Business
Cocoa Beans Sell Nearly 100% Higher in Togo, Fueling Smuggling from Ghana

Cocoa Beans Sell Nearly 100% Higher in Togo, Fueling Smuggling from Ghana

Togo is currently offering cocoa beans at nearly double the price Ghana’s Cocoa Board (COCOBOD) provides, which has led to rampant smuggling of cocoa beans from Ghana to Togo. In Togo, cocoa is being sold