COCOBOD Releases GH¢2.6bn to LBCs to Clear Outstanding Payments to Cocoa Farmers

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, assuring farmers that no one will be denied what is rightfully owed.

In a statement issued on Thursday, July 2, COCOBOD said the funds are meant to ensure farmers who supplied cocoa through the approved purchasing system receive their payments without further delay.

The Board disclosed that since the start of the 2025/26 crop season, it has paid a total of GH¢34.52 billion to LBCs for onward payment to farmers.

Of the newly released amount, GH¢1.4 billion has been earmarked specifically to settle outstanding payments owed to farmers who supplied cocoa on credit.

“COCOBOD is working closely with the Licensed Buying Companies to ensure that all affected farmers receive their payments. Monitoring mechanisms have been instituted to ensure the funds reach the farmers who are owed,” the statement said.

COCOBOD acknowledged the patience and resilience demonstrated by farmers during the delays and assured them that no farmer will be denied payment for cocoa legitimately sold through the approved system.

The Board encouraged farmers with outstanding payments to engage the LBCs through which they sold their cocoa as efforts continue to clear all arrears.

It added that the release of the funds underscores government’s commitment to safeguarding farmer welfare and protecting the integrity of Ghana’s cocoa industry.

“COCOBOD expresses its sincere appreciation to all cocoa farmers for their continued dedication and invaluable contribution to Ghana’s economy,” the statement noted, adding that it will continue working with government and industry stakeholders to strengthen the cocoa value chain and ensure long‑term sustainability.

— CitiNewsRoom