Ghana Cocobod needs $400mn to finance rest of cocoa season

ABIDJAN: Ghana's Cocobod requires around $400 million in bridge financing from the central bank to cover its operations for the remainder of the cocoa season after a $1.8 billion loan ran out early, the industry regulator's chief executive said on Tuesday.

Joseph Boahen Aidoo said much of the missing loan money had gone to road construction contracts ahead of a presidential election last year. He said Cocobod will pay back the Bank of Ghana before the next season opens in October.