Accra: The Ghana Cocoa Board (COCOBOD) has disbursed a substantial amount of GHS4.2 billion to Licensed Buying Companies (LBCs) to clear outstanding payments owed to cocoa farmers. These farmers have been awaiting their dues since November 2025, and this disbursement is a crucial step in settling those debts.
According to Ghana Web, this financial release is part of COCOBOD's broader initiative to address the lingering debts within the cocoa sector and to rebuild trust among farmers and other stakeholders. The move is aligned with the reforms announced by Cassiel Ato Forson in February, which aim to restructure the cocoa industry and resolve arrears throughout the cocoa value chain.
Speaking to Citi FM, Jerome Sam, COCOBOD's Head of Public Affairs, confirmed that the funds have already been allocated to LBCs to facilitate payments to farmers. While some farmers have successfully received their payments, others are still in the queue due to previous financing arrangements. "Since 2023, challenges with the syndicated loan meant LBCs sometimes pre-financed cocoa purchases, and COCOBOD later reimburses them. That explains why some farmers have already been paid while others are still awaiting their dues," Mr Sam elaborated.
Sam further assured that COCOBOD is committed to enhancing liquidity within the cocoa purchasing system to ensure timely payments and sustain production in Ghana's cocoa-growing regions. "We are committed to settling every cedi owed to LBCs so they can clear outstanding debts with farmers. Our goal is to complete all payments before the close of the 2025/2026 cocoa season, expected around August or September," he stated.