• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Investors left scrambling after COCOBOD defaults on matured securities

3 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
220
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Investors left scrambling after COCOBOD defaults on matured securities

Ghana Cocoa Board (COCOBOD) has defaulted on payments of its matured 182-day bill for the first time, rolling over outstanding securities of GH¢940.4 million, without the consent of investors.

This sudden default has raised concerns among investors, who are now questioning the ability of COCOBOD to redeem upcoming obligations in light of projections by the International Cocoa Organisation (ICCO) about cocoa prices dipping in 2023.

The default on the 182-day bill is a significant blow to the cocoa industry, a major contributor to the country’s economy, and has led to confusion and concern among investors expecting payments to be made on these securities.

Market information suggests that the outstanding payments were made to investors who were credited, but later had the credit reversed and automatically rolled over without their consent.

This move has led to frustration and uncertainty among investors, many of whom are now deciding whether to sell their securities to willing investors or seek legal redress.

The default is a major blow to investor confidence in the capital markets, and it may lead to investors shying away from Treasury bills.

RelatedPosts

BudgIT Ghana Calls for Deeper Reforms Following 2024 Open Parliament Index Release

Global Economy Undergoing Profound Transformation Amid Heightened Uncertainty, Says IMFC Chair

Fitch Solutions Revises Ghana’s 2025 Growth Forecast Upwards to 4.9% on Easing Inflation and Stronger Cedi

The Ghana Cocoa Board is a government-owned entity that is responsible for the regulation and development of the cocoa industry in Ghana, which is the second-largest producer of cocoa in the world.

The default on the 182-day bill is a significant blow to the industry, and it is not yet clear how the government plans to address the situation.

It is also worth mentioning that this default comes at a time when the government is undertaking a domestic debt exchange program amid massive resistance from investors, although it has been taking measures to address issues raised, but the default on the 182-day bill is a major setback for the government’s efforts.

The Ghana Cocoa Board has yet to make an official statement on the matter, and it is not yet clear what steps it will take to address the situation. The default on the 182-day bill is a serious matter, and it is important that the government and the cocoa board take immediate action to address the situation and restore investor confidence in the capital markets as the future of the Ghanaian economy, and the cocoa industry, depend on it.

Tags: CocobodInternational Cocoa Organisation (ICCO)Investors left scrambling after COCOBOD defaults on matured securities
No Result
View All Result

Highlights

Nigeria, Kenya Follow Ghana’s Trailblazing GoldBod to Strengthen Economies

Morocco Crowned World Champions at the FIFA U-20 World Cup

GPL: Gold Stars Seek Redemption, Eleven Wonders Hunt First Win in Super Monday Doubleheader

OMCs Begin Over 4% Fuel Price Reductions Amid Cedi Gains and Decline in Global Oil Prices

Nigerians to pay more for ChatGPT on OpenAI’s 7.5% VAT

Prof. Baah-Boateng Urges Bank of Ghana to Prioritise Cedi Stability Amid Sharp Currency Swings

Trending

Features

BudgIT Ghana Calls for Deeper Reforms Following 2024 Open Parliament Index Release

October 20, 2025

BudgIT Ghana Calls for Deeper Reforms Following 2024 Open Parliament Index Release BudgIT, a prominent civic tech...

Global Economy Undergoing Profound Transformation Amid Heightened Uncertainty, Says IMFC Chair

October 20, 2025

Fitch Solutions Revises Ghana’s 2025 Growth Forecast Upwards to 4.9% on Easing Inflation and Stronger Cedi

October 20, 2025

Nigeria, Kenya Follow Ghana’s Trailblazing GoldBod to Strengthen Economies

October 20, 2025

Morocco Crowned World Champions at the FIFA U-20 World Cup

October 20, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.