Cocoa loans, John Mahama's promises, BoG, others who made headlines this week

Topping the trends this week in business; Ghana is seeking to borrow $400 million from cocoa traders to finance industry operations as it struggles to secure the annual Cocoa Syndicated loan amid a government debt restructuring.

COCOBOD is tapping traders including Olam Group Ltd. and Barrry Callebaut AG to pre-finance seedlings, chemicals, fertilizers, and purchases of beans from farmers in the 2023-24 season, according to people familiar with the talks.

Reacting to this development, Vice President of Imani-Africa, Bright Simons, has said Ghana’s acquisition of the $800 million Cocoa Syndicated Loan is currently in limbo as banks remain skeptical about the country's current economic standing,

He said the move by the government to take loans from cocoa buyers was indicative of Ghana's credit status.

Also, the Bank of Ghana has cautioned the general public against being guarantors for just anyone who needs one.

The Central Bank said the risks involved in guaranteeing loans have not been emphasized enough, even though many have fallen victim a lot of times.

Watch a recap of the top stories below:



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Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.