Cocoa Capital PLC secures GH¢3.39 billion in first COCOBOD funding tranche
Cocoa Capital PLC has raised GH¢3.39 billion from the first tranche of its Commercial Paper programme for the Ghana Cocoa Board (COCOBOD).
The first tranche was originally expected to raise GH¢4 billion, meaning the amount raised fell below the target.
Investors who purchased the Commercial Paper will earn an interest rate of 11%. The investment has a tenor of 266 days.
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The fundraising forms part of a wider GH¢16.3 billion domestic cocoa financing programme being undertaken by Cocoa Capital PLC.
Of this amount, GH¢14 billion is expected to be raised through Commercial Papers to finance cocoa purchases during the 2026/27 crop season.
The remaining GH¢2.3 billion will be raised through medium- and long-term bonds to refinance some of COCOBOD’s existing debt.
The Commercial Paper programme will be issued in three tranches. The first was targeted at GH¢4 billion, while the second and third are expected to target GH¢4 billion and GH¢6 billion, respectively.
The funds will be backed by receivables from selected cocoa forward sales contracts assigned to Cocoa Capital PLC.
Meanwhile, part of the money raised will also be used to finance COCOBOD’s legacy debts, with about 14% of the funds allocated for this purpose.
Cocoa Capital PLC was incorporated on August 7, 2026, under the Companies Act, 2019. It is wholly owned by COCOBOD and has an initial paid-up capital of GH¢5 million.
The company was established to help COCOBOD raise funds from the domestic capital market for cocoa-sector financing and debt refinancing.
Cocoa Capital PLC has received approval from the Securities and Exchange Commission (SEC) for the fundraising programme.
COCOBOD, however, says the programme forms part of efforts to improve financing in the cocoa sector.
“This turnaround signals a cocoa sector that is more resilient, disciplined, and built to deliver value at every level,” COCOBOD told investors.
ANAS/MA
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