The yield on Ghana’s five-year cedi bonds increased to the highest level in more than three years at a sale on Thursday on concern that the West African country is taking on too much debt. The government of the world’s second-largest cocoa producer in March issued five-year debt at a yield of 21 percent, according to data compiled by Bloomberg. The government’s debt rose to 69 percent of gross domestic product in September from 60 percent in January. The cedi gained 0.8 percent to 3.7946 per dollar as of 4:41 p.m. in Accra. Investors sought 644 million cedis of the debt during the sale, which for the first time was done through a book-building process rather than being arranged by the central bank.