PBC hit by financial crisis as debt hits GH¢673 million – Report
Ghana’s state-owned cocoa purchasing firm, Producer Buying Company (PBC), is reportedly struggling to operate due to heavy debts amounting to about GH¢673 million (approximately $60 million), according to a source familiar with the situation cited by Reuters.
The company is also said to be at risk of having its assets seized as financial pressures deepen.
By law, PBC serves as a “buyer of last resort” for cocoa farmers in Ghana. However, despite government plans announced in February to strengthen its operations, the firm is reportedly unable to function effectively.
The source indicated that PBC owes farmers about GH¢24 million for more than 9,000 bags of cocoa already supplied, but currently lacks the funds to clear the arrears or make new purchases.
In addition, a group of banks is reportedly owed about GH¢257 million. The banks have secured a court order issued in March 2026 allowing them to sell the company’s assets to recover their money.
The situation comes amid wider challenges in Ghana’s cocoa sector, including global oversupply, falling cocoa prices, and weakened demand from chocolate manufacturers, all of which have affected industry players.
Once responsible for about 30% of Ghana’s internal cocoa purchases, PBC’s market share has now dropped to less than 5%. Some farmers are reportedly still waiting for payments for cocoa delivered as far back as November 2025.
The source further told Reuters that the Ghana Cocoa Board (COCOBOD) still owes PBC refunds for around 800 metric tons of cocoa delivered more than two months ago.
Neither the Ministry of Finance nor COCOBOD has commented on the situation, according to Reuters.
Although Finance Minister Dr Cassiel Ato Forson previously stated that reviving PBC was part of government efforts to support cocoa farmers, the source claims there has been no significant follow-up action.
The company is also reportedly facing challenges with unpaid salaries, supplier arrears, and statutory obligations, while the Social Security and National Insurance Trust (SSNIT), a major shareholder, is said to be reluctant to inject additional capital.
The source believes that government intervention could be key to stabilising PBC and restoring its role in cocoa purchasing across Ghana’s cocoa-growing regions.
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