Ghana Cocoa Board gets green light to acquire US$1.3 billion loan financing

GHANA – The Ghana Cocoa Board (COCOBOD) has received parliamentary approval to borrow US$1.3 billion syndicated loan facility, to be utilized for the purchase of cocoa beans from farmers in the 2020/2021 crop season and finance other operations of the Board. The House also approved a US$6.5 million request for waiver of stamp duty on the receivables-backed trade finance facility between the Board and consortium of banks and financial institutions in line with provisions of the Stamp Duty Act, 2005. According to reports by Ghanaian Times, with the interest rate pegged…

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Nestlé invests US$2.6m to conserve and rehabilitate Cavally forest reserve in Côte d’Ivoire

CÔTE D’IVOIRE – The Nestlé group has signed a memorandum of understanding with the Ministry of Water and Forests of the Republic of Côte d’Ivoire for the implementation of the CHF 3.34 million (US$3.5m) project aimed to conserve and rehabilitate the Classified Forest of Cavally, of which Nestlé is contributing CHF 2.5 million (US$2.6m). The agreement was signed by Mr. Alain-Richard DONWAHI, Minister of Water and Forests and Mr. Thomas CASO, Managing Director of Nestlé Côte d’Ivoire, in the presence via video-conference of Mr. Magdi BATATO, Executive Vice-President, Director of Nestlé…

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