Drought but no doubt: Cocobod seals PXF with 36% oversubscription

Region:

Middle East & Africa

Callum Burroughs

Reporter

Despite a crop-damaging drought and fears about production levels, the Ghana Cocoa Board (Cocobod) has refinanced its annual PXF in a vastly oversubscribed facility. The deal is set to finance the 2016/17 harvest and remains one of Sub-Saharan Africa’s largest commodity finance deals.

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