The Ghana Cocoa Board (COCOBOD) has released GHS 2.6 billion to Licensed Buying Companies (LBCs) for payment to cocoa farmers. This significant disbursement aims to settle outstanding debts for cocoa purchases across all cocoa-growing regions. Approximately GHS 1.4 billion of this amount is specifically allocated to clear remaining balances owed to farmers whose cocoa was bought on credit.
This latest fund release addresses a critical need for prompt payments to farmers. Delayed payments have impacted farmer livelihoods and potentially threatened the stability of cocoa production. By clearing these debts, COCOBOD seeks to restore confidence among farmers and ensure the sustained flow of raw materials for Ghana’s vital cocoa sector.
This initiative fits into a broader government commitment to support Ghana's cocoa industry, a cornerstone of the national economy. Cocoa exports remain a primary source of foreign exchange and directly support millions of livelihoods. Data shows COCOBOD has paid a total of GHS 34.52 billion to LBCs for onward payment to farmers since the beginning of the 2025/26 crop season. This new injection is part of ongoing efforts to manage the financial cycles of cocoa production and purchasing, which often involve credit arrangements.
In a statement, COCOBOD acknowledged the resilience of cocoa farmers during this challenging period. The Board assured all farmers that they would receive payment for legitimately sold cocoa. It has put monitoring mechanisms in place to guarantee that the funds reach the intended farmers without delay. COCOBOD also encouraged farmers with outstanding payments to contact their respective Licensed Buying Companies.
This financial injection is expected to stabilize farmer incomes and mitigate potential unrest over delayed payments. Decision-makers and industry stakeholders will closely monitor the effective disbursement of these funds. The success of this payment drive will be crucial for maintaining farmer loyalty and ensuring the continuous supply of cocoa beans, which are vital for Ghana’s economy. COCOBOD reiterated its commitment to protecting farmer welfare and strengthening the country’s cocoa value chain.