Samuel Adimado, President of the Licensed Cocoa Buyers Association of Ghana (LICOBAG), has apologised to cocoa farmers who are yet to receive payment for beans supplied several months ago.

The payment delays have caused concern in cocoa-growing communities, particularly in the Ashanti Region, where some farmers report not being paid for produce delivered as far back as November 2025.

Several affected farmers say the delays have placed them under severe financial strain, with some threatening to sell their cocoa farms to illegal miners in exchange for immediate cash to support their families. “We have no option,” farmers lamented, warning that if the situation does not improve, they may be forced to seek alternative buyers or accept upfront offers from illegal mining operators.

Reports indicate that the Ghana Cocoa Board (COCOBOD) has released approximately GH¢3.6 billion to Licensed Buying Companies (LBCs) for onward payment to farmers. Despite this, many farmers say they have not yet received their funds.

The financial pressures on LBCs have also come under scrutiny. Industry reports suggest that some licensed cocoa buyers owe banks between GH¢7 billion and GH¢8 billion, adding stress to the financial sector as lenders continue to recover from recent economic challenges. Observers speculate that the heavy debt burden may be contributing to the payment delays, with some LBCs allegedly using COCOBOD funds to service bank loans rather than pay farmers.

Speaking in an interview with Akwasi Nsiah on Adom TV’s Badwam, Mr. Adimado acknowledged farmers’ concerns and expressed regret over the situation. He clarified that while some farmers have been paid, others are still awaiting funds, which has fueled mounting complaints.

He emphasised that LICOBAG is working to address the challenges and ensure all affected farmers are paid. Mr. Adimado cautioned members against using COCOBOD disbursements to settle bank loans and urged them to prioritise payments to farmers to maintain confidence in the cocoa sector.

He further assured farmers awaiting payment to remain patient, noting that measures are being implemented to settle all outstanding arrears in due course.