Samuel Adimado, President of the Licensed Cocoa Buyers Association of Ghana (LICOBAG), has apologised to cocoa farmers who have yet to receive payment for beans supplied several months ago.
The payment delays have raised concerns in cocoa-growing communities, particularly in the Ashanti Region, where some farmers say they have not been paid for produce delivered since November 2025.
Several affected farmers report severe financial hardship and have threatened to sell their cocoa farms to illegal miners in exchange for immediate cash, citing their inability to cater for their families due to the prolonged delays.
“We have no option,” some farmers lamented, warning that if the situation does not improve, they may be compelled to seek alternative buyers or accept offers from illegal mining operators providing upfront payments.
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. However, many farmers claim they are still awaiting their funds despite the reported disbursement.
The financial strain on LBCs has also come under scrutiny, with reports suggesting that licensed cocoa buyers owe banks between GH¢7 billion and GH¢8 billion. This growing debt burden is adding pressure to the financial sector at a time when lenders are still recovering from recent economic challenges.
Some industry observers believe the heavy debt load may be contributing to the payment delays, with speculation that certain LBCs could be using funds released by COCOBOD to service bank loans instead of paying farmers.
In an interview with Akwasi Nsiah on Adom TV’s Badwam, Mr. Adimado acknowledged the farmers’ concerns and expressed regret over the situation.
He clarified that while some farmers have received payment, others are still waiting, which has led to the mounting complaints.
Mr. Adimado stressed that the Association is working to address the challenges and ensure all affected farmers are paid. He cautioned members against using COCOBOD funds 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 calm, stating that measures are being implemented to settle all outstanding arrears in due course.
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