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COCOBOD, African Development Bank celebrate disbursement of loan to boost cocoa productivity
Ghana Cocoa Board (COCOBOD) and lenders have welcomed the first disbursement of $200 million of a syndicated loan facility to boost cocoa productivity in the world’s second-largest producer.
The occasion was marked by a ceremony held in Accra, Ghana on Tuesday, June 23, 2020 was followed online by hundreds of observers across the globe.
In attendance were COCOBOD and government representatives and participating lenders, which included development finance institutions: the African Development Bank, the Japan International Cooperation Agency (JICA), the Development Bank of Southern Africa, among others.
The $600 million syndicated loan agreement was signed in November last year at the Africa Investment Forum in Johannesburg, South Africa.
JICA and the African Development Bank agreed to provide $3.5 billion in joint financing under the fourth phase of the Enhanced Private Sector Assistance for Africa Initiative.
Joseph Boahen Aidoo, Chief Executive Officer of COCOBOD, highlighted the challenges of production, processing and distribution of cocoa in the country but noted that efforts were being made to address them.
“By strengthening the cocoa bean-centric agricultural value chain and related industries, the facility will help COCOBOD to contribute to achieving Sustainable Development Goals,” he said.
According to officials, COCOBOD would use the facility to raise cocoa yields per hectare and increase Ghana’s overall production.
Activities under the facility would include the allocation of financing to sustainably increase cocoa plant fertility, improve irrigation systems, and rehabilitate aged and disease-infected farms.
The funds would help increase warehouse capacity and provide support to local cocoa-processing companies also.
Dr Jennifer Blanke, African Development Bank Vice President for Agriculture, Human and Social Development, said “loan to COCOBOD aims to improve the quantity and quality of local processing, boosting incomes of local farmers and their communities and generating new and better jobs.”
Yasumichi Araki, Chief Representative of JICA Ghana, said “JICA will continue to commit to the cocoa industry in Ghana through innovative interventions to COCOBOD.”
The Development Bank of Southern Africa is also partnering with COCOBOD to further enhance Ghana’s position as one of the leading producers of quality cocoa in the world.
-News Desk
The Office of the Special Prosecutor (OSP) has amended the charges in the ongoing case against former National Petroleum Authority (NPA) Chief Executive, Mustapha Abdul-Hamid, and nine others.
The number of counts has risen from 25 to 54 after investigators uncovered new evidence.
The accused are facing trial for alleged large-scale extortion, abuse of public office, and money laundering involving over GH¢291 million and US$332,000.
According to the OSP, the accused persons allegedly extorted huge sums of money from bulk oil transporters and oil marketing companies under the pretext of carrying out official duties.
The proceeds were reportedly laundered through the purchase of properties and investments in business entities to conceal their source.
The accused persons include Mustapha Abdul-Hamid, Jacob Kwamina Amuah, Wendy Newman, Albert Ankrah, Isaac Mensah, Bright Bediako-Mensah, Kwaku Aboagye Acquaah, Propnest Limited, Kel Logistics Limited, and Kings Energy Limited.
The OSP has also seized and frozen several assets, including tanker trucks, fuel stations, houses, apartments, and parcels of land valued at more than GH¢100 million pending the outcome of the trial.
The case, titled The Republic v. Mustapha Abdul-Hamid & 9 Others (Cr/0603/2025), is currently being heard at the Accra High Court.
By: Jacob Aggrey
The National Operations Directorate (NOD) Surveillance Unit, of the Ghana Police Service has arrested a 32-year-old man, Akoto Nelson, for posing as a police officer during a public event at the Black Star Square in Accra.
The suspect was arrested on Sunday, 19th October 2025, by a team of officers deployed to provide security at a musical concert. The team observed the suspect dressed in a police uniform with the rank of Assistant Superintendent of Police (ASP) behaving suspiciously. Upon interrogation, he admitted that he was not a police officer.
Investigations revealed that the suspect impersonated a police officer to gain free entry to the event, claiming he did not have money to pay the entry fee. He further disclosed that the uniform belonged to a deceased Chief Inspector, identified as Gyasi, from whom he obtained the police accoutrements in 2022.
A subsequent search conducted at his residence in Taifa-Ashaiman uncovered several items that were retained as exhibits. These include one toy P99 pistol, one pepper spray, two ZTE mini handsets, one pepper spray pouch, one ZTE charger, one Xinfa cutter knife, some complimentary cards, one voter ID in the name of Akoto Nelson Elikem, and one birth certificate in the name of Nelson Akoto.
Preliminary investigations further established that the suspect works as a security guard and a messenger at a private company. He remains in police custody and will be put before the court.
