The Ghana Cocoa Board (COCOBOD) has released GH¢2.6 billion to Licensed Buying Companies (LBCs) to facilitate payments to cocoa farmers across the country’s cocoa-growing regions, with about GH¢1.4 billion earmarked to clear outstanding debts owed to farmers for cocoa purchased on credit.
The disbursement, announced in a statement issued on Thursday, 2 July, forms part of efforts to address delayed payments and reassure farmers that all outstanding obligations will be honoured.
According to COCOBOD, the board has, since the commencement of the 2025/26 cocoa crop season, paid a cumulative GH¢34.52 billion to Licensed Buying Companies for the purchase of cocoa beans from farmers.
“Out of the GH¢2.6 billion released today, approximately GH¢1.4 billion has been earmarked to clear the remaining balance LBCs owe cocoa farmers for cocoa taken on credit,” the statement said.
The board indicated that it is working closely with Licensed Buying Companies to ensure that all affected farmers receive the monies due them without further delay.
COCOBOD also disclosed that it has instituted monitoring mechanisms to ensure the funds are paid directly to the farmers who are owed, amid concerns over delayed settlements in parts of the cocoa belt.
The board acknowledged the patience and resilience demonstrated by cocoa farmers during the period of delayed payments and assured them that every farmer who legitimately sold cocoa through the approved purchasing system would receive full payment.
It urged farmers with outstanding claims to engage the respective Licensed Buying Companies through which they sold their cocoa while COCOBOD continues to monitor the payment process.
“The board wishes to assure all cocoa farmers that no farmer will be denied payment for cocoa legitimately sold through the approved cocoa purchasing system,” the statement emphasised.
COCOBOD said the latest release of funds reflects the government’s commitment to protecting the welfare of cocoa farmers while safeguarding the integrity and sustainability of Ghana’s cocoa industry.
The board reaffirmed its commitment to working with government and industry stakeholders to strengthen the cocoa value chain, improve the livelihoods of farmers and ensure the long-term sustainability of the sector.
It also expressed appreciation to cocoa farmers for their continued dedication and contribution to Ghana’s economy, describing them as the backbone of one of the country’s most important export industries.
