The Ghana Cocoa Board (COCOBOD) has disbursed 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.
The latest release is aimed at ensuring that farmers who supplied cocoa through the approved purchasing system receive prompt payment for their produce.
In a statement issued on Thursday, July 2, COCOBOD disclosed that it has paid a total of GH¢34.52 billion to Licensed Buying Companies since the start of the 2025/26 cocoa crop season for onward payment to cocoa farmers.
According to the Board, approximately GH¢1.4 billion of the newly released amount 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.
The Board said the disbursement reflects the government’s commitment to protecting the welfare of cocoa farmers and safeguarding 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 the country’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.
