Parliament approves $1.5 billion cocoa syndicated loan today

Ogyem SolomonAugust 3, 2019

Less than a minute

Government is seeking an amount of $1.5 billion for the purchase of Cocoa beans for the 2019/2020 crop season.

In a motion tabled before parliament, Cocobod wants receivables backed trade finance facility from a consortium of banks and financial institutions.

It’s expected that the motion would be approved later today before the House ends its second meeting for the season.

COCOBOD last year raised about $1.3 billion for the purchases of about 900 million metric tonnes of cocoa beans for the crop season.

The cocoa sector accounts for 4.5 per cent of GDP and contributes 25 per cent of Ghana’s merchandise export earnings.

Source: kasapafmonline.com

Tags

Ogyem SolomonAugust 3, 2019

Less than a minute

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.