Question

How cocoa contribute to foreign exchange in Ghana​

Answer 1

Currency transactions by Ghanaian banks are set to double as the government starts to auction foreign exchange raised by the country's cocoa-exporting body, allowing companies to bid for dollars rather than buy them from the black market or exchange bureaus.

Answer 2

Exports of raw cocoa beans are a key source of foreign exchange for Ghana's central bank. Ghana's cocoa sector is regulated by the state-owned marketing board Cocobod. Cocobod has a monopoly, through its subsidiary Cocoa Marketing Company, over the marketing of Ghanaian cocoa beans.