SAF's unpaid debt now the "Enron" of the cocoa industry

Saf cacao, an export firm in San-Pedro, Ivory Coast.
Saf cacao, an export firm in San-Pedro, Ivory Coast. © Thierry Gouegnon/Reuters
Five years after SAF Cacao went bankrupt, its accumulated €158m in debt owed to 11 banks remains outstanding. The creditors have formed an underwriting banking syndicate but have struggled to mortage SAF's new owner SACC's assets. SACC is run by a high official in the ruling RHDP party. [...] (267 words)
Issue dated 15/03/2022 Reading time 2 minutes
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