PBC obtains GHc30m financing support to boost cocoa purchases and farmer payments
The Produce Buying Company (PBC) has obtained a financing facility supported by a GH₵30 million credited cocoa stock to facilitate timely payments to cocoa farmers amid ongoing liquidity challenges affecting Ghana’s cocoa industry.
The move comes as several Licensed Buying Companies (LBCs) continue to struggle with cash flow difficulties, resulting in delayed payments to farmers and increasing concerns within the cocoa value chain.
Speaking during the signing of a Memorandum of Understanding between PBC and the Ghana National Cocoa Farmers Association (GNACOFA), the Deputy Managing Director responsible for Finance, Thomas Ayisi, described the arrangement as a significant intervention aimed at rebuilding confidence among cocoa farmers and repositioning the company after years of financial setbacks.
According to him, securing the facility to finance credited cocoa stocks sets PBC apart from some competitors who continue to owe farmers for purchased cocoa.
He stated that the initiative would help restore trust and credibility at the grassroots level while demonstrating that PBC is undergoing active restructuring to improve its operations.
Ayisi explained that the financing package would enhance the company’s operational strength and ensure prompt payments to farmers throughout the cocoa purchasing season.
He added that PBC remains committed to improving efficiency, addressing long-standing operational difficulties, and rebuilding stronger relationships with cocoa farmers across the country.
He further noted that the partnership with GNACOFA forms part of broader efforts to strengthen collaboration with farmers and promote sustainability within the cocoa sector.
The National President of the Ghana National Cocoa Farmers Association, Stephenson Anane Boateng, said the partnership would also support measures aimed at tackling major challenges confronting the cocoa industry, including cocoa smuggling and illegal mining activities.
He explained that the collaboration with PBC presents an opportunity to establish stronger systems and structures that will directly benefit cocoa farmers and improve their livelihoods.
The agreement is also expected to contribute to stabilising farmer incomes as the cocoa sector continues to face financing and operational pressures.
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