(Bloomberg) -- Ghana’s cocoa regulator, known as Cocobod, is still in talks with foreign lenders to raise a syndicated loan to fund the next season’s crop, according to the country’s finance minister.
“Cocobod is not abandoning the cocoa syndication,” Mohammed Amin Adam told reporters in the capital, Accra, Monday.
“Negotiations are ongoing,” Amin Adam said. But “it will not bring in more than $600 million” out of an initial target of $1.5 billion. This has pushed authorities to seek alternative sources of funding, he said.
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