Boafo argues that this effectively clears any suggestion of default and reinforces COCOBOD’s long-standing record in syndicated loan servicing. Historically, COCOBOD has maintained a strong reputation in the international syndicated loan market, and this letter reinforces that record,” Boafo said. Boafo insists that the bank’s discharge letter raises serious questions about the basis of those claims. Industry observers say Ghana’s cocoa syndicated loans have historically been oversubscribed, largely due to COCOBOD’s reputation for repayment discipline and the strength of Ghana’s cocoa forward-sales structure. COCOBOD has not yet publicly responded to the specific claims surrounding the discharge letter.

Source: GhanaWeb February 09, 2026 20:13 UTC