Cocoa

ACCRA (Capital Markets in Africa) – Ghana’s foreign-exchange market is about to be spurred to life: by cocoa beans. 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. The first $1.8 billion, a loan raised by the Ghana Cocoa Board, is hitting the market this…