The Ghana Cocoa Board (COCOBOD) has released GH¢2.6 billion to Licensed Buying Companies (LBCs) to facilitate payments to cocoa farmers across all cocoa-growing regions, with about GH¢1.4 billion earmarked to settle outstanding debts owed to farmers for cocoa purchased on credit.
The funds, released on Thursday, July 2, are expected to address delayed payments to farmers while ensuring the smooth continuation of cocoa purchases during the 2025/26 crop season.
In a press statement issued by its Public Affairs Department on Thursday, COCOBOD disclosed that it has so far disbursed GH¢34.52 billion to LBCs since the start of the 2025/26 crop season for onward payment to cocoa farmers.
According to the Board, the latest release includes approximately GH¢1.4 billion specifically allocated to clear the remaining balances owed by LBCs to farmers whose cocoa was taken on credit.
“COCOBOD is working closely with the LBCs to ensure that all affected farmers receive their payments,” the statement said.
The Board added that it has put in place monitoring mechanisms to ensure the funds are paid directly to the farmers who are owed.
COCOBOD assured farmers that every producer who has legitimately sold cocoa through the approved cocoa purchasing system will receive payment.
“No farmer will be denied payment for cocoa legitimately sold through the approved cocoa purchasing system,” the Board stated.
Farmers with outstanding payments have been advised to contact the Licensed Buying Company through which they sold their cocoa while COCOBOD works with stakeholders to ensure all outstanding obligations are settled.
The Board said the release of the GH¢2.6 billion demonstrates the government’s commitment to protecting the welfare of cocoa farmers and maintaining the integrity of Ghana’s cocoa industry.
COCOBOD also expressed appreciation to cocoa farmers for their patience, resilience and continued contribution to the country’s economy, pledging to continue 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.
Source: www.kumasimail.com
