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Ghana 's biggest cocoa buyer defers AFD loan

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Friday, 12 September 2014

Ghana 's biggest cocoa buyer defers AFD loan

According to Bloomberg, the Produce Buying Co. (PBC), the biggest buyer of cocoa in Ghana, recently deferred a loan of 30 million dollars from the French Development Agency (AFD), due to the fall of the cedi. “We must protect ourselves against high repayment costs related to the deterioration in the exchange rate. However, we are still in discussions and we will see how the exchange rate behaves over the next year,” stated Joseph Osei Manu, Deputy Director responsible for the company’s financial management.

Source: agenceecofin.com