The Ghana Cocoa Board (COCOBOD) says it is working to clear all outstanding payments owed to cocoa farmers before the end of the 2025/2026 cocoa season, expected around August.
As part of this effort, the Board has released about GH¢4.2 billion to Licensed Buying Companies (LBCs) to enable them pay farmers who have been owed since November last year.
Head of Public Affairs at COCOBOD, Jerome Sam, said the funds were disbursed to the LBCs last week to facilitate payments to farmers across cocoa-growing communities.
According to him, the payment is part of measures to restore liquidity within the cocoa purchasing system and ensure that farmers receive the money due them for cocoa beans already sold.
He explained that payment delays in the sector have partly been linked to financing challenges that emerged after difficulties with the cocoa syndicated loan arrangement in 2023.
Because of those challenges, some Licensed Buying Companies pre-financed cocoa purchases from farmers while awaiting reimbursement from COCOBOD.
“That is why some farmers are not owed by the LBCs, while others still have outstanding payments. As COCOBOD, we are working tirelessly to ensure that every cedi owed to the Licensed Buying Companies is paid so they can also settle any outstanding debts with their cocoa farmers,” he said.
The disbursement also follows reforms announced by the Finance Minister, Cassiel Ato Forson, aimed at restructuring the cocoa sector and addressing debts across the value chain.
COCOBOD says it remains committed to improving financial flows within the sector to ensure timely payments to farmers and sustain cocoa production nationwide.
