The Ghanaian Cocoa Board has reportedly borrowed between $150 million and $200 million from cocoa traders to facilitate bean purchases for the ongoing 2023/24 season.

This loan was secured due to a delay in obtaining a bank loan, as stated by the regulator’s public affairs manager on Tuesday.

Traditionally, every September, the industry regulator of the world’s second-largest cocoa producer secures an international syndicated loan to support licensed buyers in purchasing cocoa from smallholder farmers for export.

Reporting from Accra, here is WADR’s Naa Dedei Tetey