Ivory Coast
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. [...]
Published on 15.03.2022 at 05:00 GMT Reading time 2 minutes
Further reading

Ivory Coast
Port of San Pedro, Fraternité Matin, Sofitel Ivoire... the audits that threaten the barons of Ouattara's party

The Ivorian government is desperately looking for a strategy as to how best to release the audits conducted over the past three years, under pressure from the country's financial backers, into six state-owned companies. The results are particularly damaging for these parastatals, all of which are run by leaders of the RHDP, President Alassane Ouattara's party.

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