COCOBOD secures US$1.3Bn for 20118/19 crop season

Ghana Cocoa Board (COCOBOD) has confirmed the award of mandate for its annual US$ 1.3 billion Pre-Export Receivable Backed Trade Finance (PXF) syndicated facility to the bank of consortium.

The consortium group, according to the board, consists of ABN AMRO Bank, Bank of China, Industrial and Commercial Bank of China, Standard Chartered Bank, which have been joined by Ghana International Bank.

In a statement signed by the Chief Executive of COCOBOD, Mr Joseph Boahen Aidoo, and copied to Today yesterday it noted that the high tender process was well contested with multiple bidding groups.

The statement mentioned that group comprising over 15 major international banks, which reflect excellent track records of Ghana Cocoa Board in the annual PXF facility.

It further noted that the bank’s meeting will be held in London with syndication and signing timelines similar to previous years.

It said that further announcements will be made in due course by arranging the bank group.

 

Story: Freeman KORYEKPOR AWLESU

Writer’s email.freeman.koryekpor@todaygh.com

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