Cocoa Capital PLC, a dedicated financing special-purpose vehicle established by the Ghana Cocoa Board (COCOBOD), has successfully listed its inaugural commercial paper issuance worth GH¢3.40 billion on the Ghana Fixed Income Market (GFIM).
The landmark domestic debt transaction forms part of COCOBOD’s broader strategic shift toward leveraging local capital markets to fund seasonal cocoa purchases and refinance legacy liabilities, scaling back traditional reliance on external syndicated loans. Market participants, including institutional investors and domestic financial institutions, subscribed strongly to the issuance, reflecting robust confidence in the credit structure backed by assigned cocoa receivables and structured escrow mechanisms.
Financial analysts have hailed the successful listing as a major milestone for Ghana’s domestic debt market, demonstrating the capacity of local institutional capital to support strategic agricultural commodities. The proceeds will provide immediate liquidity for Licensed Buying Companies (LBCs) to purchase cocoa beans from farmers, ensuring timely payments and operational efficiency throughout the ongoing crop season.
Source: joyfmonline.com
