Tag: Cocoa

COCOBOD borrows $1.3bn for 2017/18 cocoa season

The Ghana Cocoa Board (COCOBOD) has signed an agreement with a number of banks to raise 1.3 billion dollars at an interest rate of 0.65% plus libor rate for the 2017/2018 purchase of cocoa beans. The syndicated loan which was signed in France on September 20, 2017 had 25 banks participating in the transaction. Speaking to journalists via a teleconference after… Read more →

Cocoa Sustainability Programs: Cosmetic or Serious Business?

The recent outrage of the effect of illegal mining in various farming communities across the country has brought to bear, a tacit revelation of how poor cocoa farmers are knowingly burning down their cocoa farms and selling the mineral rich land to illegal miners for a onetime payment. This revelation has led to questions about the existence and effectiveness of… Read more →

MasterCard Foundation supporting Youth Initiatives in Ghana

Global Communities, Solidaridad, and Participatory Development Associates (PDA) announced their partnership today with The MasterCard Foundation on an innovative employment initiative called “Youth Forward” for Ghana. The program assists economically disadvantaged young people to overcome barriers such as lack of formal employment, low levels of education, skills mismatches, and lack of access to credit by improving their ability to find… Read more →