The Ghana Cocoa Board (COCOBOD) has released GH¢2.6 billion to Licensed Buying Companies (LBCs) to facilitate payments to cocoa farmers for cocoa purchases across all cocoa-growing regions.
In a statement issued on Thursday, July 2, COCOBOD said the funds are intended to ensure that farmers receive payments for cocoa supplied through the approved cocoa purchasing system.
According to the Board, it has paid a total of GH¢34.52 billion to Licensed Buying Companies since the start of the 2025/26 crop season for onward payment to cocoa farmers.
Out of the GH¢2.6 billion released, approximately GH¢1.4 billion has been earmarked to clear the outstanding balance owed to farmers for cocoa that was purchased on credit by the LBCs.
COCOBOD said it is working closely with the buying companies to ensure that all affected farmers receive their payments promptly.
The Board also disclosed that it has put in place monitoring mechanisms to ensure that the funds are paid directly to the farmers who are owed.
COCOBOD acknowledged the patience and resilience demonstrated by cocoa farmers during the payment delays and assured them that no farmer would be denied payment for cocoa legitimately sold through the approved purchasing system.
The Board encouraged farmers with outstanding payments to engage the Licensed Buying Company through which they sold their cocoa while efforts continue to settle all outstanding obligations.
According to COCOBOD, the release of the funds reflects the government’s commitment to protecting the welfare of cocoa farmers and preserving the integrity of Ghana’s cocoa industry.
The Board reaffirmed its commitment to working with government and industry stakeholders to strengthen the cocoa value chain, improve farmer welfare and ensure the long-term sustainability of Ghana’s cocoa sector.
COCOBOD also expressed appreciation to cocoa farmers for their continued dedication and contribution to Ghana’s economy.
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