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 the country’s cocoa-growing regions.
In a statement issued on Thursday, July 2, COCOBOD said the funds are intended to ensure that farmers who supplied cocoa through the approved purchasing system receive their payments.
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.
Of the GH¢2.6 billion released, about GH¢1.4 billion has been earmarked to settle outstanding payments owed to farmers for cocoa purchased on credit.
“COCOBOD is working closely with the Licensed Buying Companies to ensure that all affected farmers receive their payments. The Board has also instituted monitoring mechanisms to ensure that the funds reach the farmers who are owed,” the statement said.
The Board assured cocoa farmers that no farmer would be denied payment for cocoa legitimately sold through the approved cocoa purchasing system.
“COCOBOD acknowledges the patience, resilience, and understanding demonstrated by cocoa farmers during this challenging period and wishes to assure all cocoa farmers that no farmer will be denied payment for cocoa legitimately sold through the approved cocoa purchasing system,” it stated.
COCOBOD also encouraged farmers with outstanding payments to engage the Licensed Buying Company through which they sold their cocoa while efforts continue to ensure the full settlement of all outstanding obligations.
According to the Board, the release of the funds underscores the government’s commitment to safeguarding the welfare of cocoa farmers and preserving the integrity of Ghana’s cocoa industry.
“The release of these funds underscores the Government’s commitment to safeguarding the welfare of cocoa farmers and preserving the integrity of Ghana’s cocoa industry,” the statement noted.
COCOBOD further expressed appreciation to cocoa farmers for their continued dedication and contribution to Ghana’s economy.
“COCOBOD expresses its sincere appreciation to all cocoa farmers for their continued dedication and invaluable contribution to Ghana’s economy. The Board will continue to work 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,” it added.
