COCOBOD disburses GH¢2.6 Billion to settle payments owed to Cocoa Farmers

The Ghana Cocoa Board (COCOBOD) has disbursed GH¢2.6 billion to Licensed Buying Companies (LBCs) to facilitate payments to cocoa farmers for cocoa purchased across the country’s cocoa-growing regions.

In a statement issued on Thursday, July 2, COCOBOD said the funds are meant to ensure that farmers receive prompt payment for cocoa supplied through the approved cocoa purchasing system.

The Board revealed that it has paid a cumulative GH¢34.52 billion to Licensed Buying Companies since the beginning of the 2025/26 cocoa crop season for onward payment to farmers.

According to COCOBOD, about GH¢1.4 billion of the newly released funds has been allocated to settle outstanding payments owed to farmers for cocoa that was previously purchased on credit by the LBCs.

The Board said it is collaborating closely with the buying companies to ensure that all affected farmers receive their outstanding payments without unnecessary delays.

To promote transparency and accountability, COCOBOD noted that it has put in place monitoring mechanisms to ensure the funds are paid directly to the farmers who are entitled to them.

The Board also commended cocoa farmers for their patience and resilience during the payment delays, assuring them that every farmer who legitimately sold cocoa through the approved purchasing system would receive full payment.

COCOBOD encouraged farmers who are still awaiting payment to remain in contact with the Licensed Buying Company through which they sold their cocoa as efforts continue to clear all outstanding obligations.

According to the Board, the release of the GH¢2.6 billion demonstrates the government’s commitment to safeguarding the welfare of cocoa farmers while maintaining the credibility and integrity of Ghana’s cocoa industry.

COCOBOD reaffirmed its commitment to working with government and key stakeholders to strengthen the cocoa value chain, improve farmers’ livelihoods and ensure the long-term sustainability of the country’s cocoa sector.

The Board also expressed gratitude to cocoa farmers for their continued hard work and invaluable contribution to Ghana’s economy.

Prince Antwi

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