Ghana Targets $1 Billion in Cocoa Bonds as Part of Overhaul

Ghana is planning to raise $1 billion through domestic bonds to fund cocoa purchases from farmers, part of an overhaul of the way it delivers the commodity to global buyers.

The $1-billion debt will be issued ahead of the 2026-27 season, which begins around August, according to a person familiar with the plans, who asked not to be named because the discussions aren’t public. The bond will be denominated in cedi, easing the country’s reliance on dollar funding and foreign lenders, according to Randy Abbey, the head of the industry regulator, the Ghana Cocoa Board.