COCOBOD settles GH¢162 million owed to non-DDEP cocoa bill holders

The Ghana Cocoa Board (COCOBOD) has announced the full settlement of GH¢162 million owed to individual holders of Cocoa Bills who did not participate in the government's Domestic Debt Exchange Programme (DDEP).

The payment is expected to bring relief to affected investors whose funds remained outstanding following the implementation of the DDEP in 2023.

In a statement issued on Wednesday, July 15, COCOBOD said the settlement forms part of its efforts to honour its financial obligations and rebuild confidence among investors.

"The Ghana Cocoa Board (COCOBOD) wishes to inform investors and the general public that it has paid GH¢162 million in full settlement of outstanding obligations to individual holders of Cocoa Bills who did not participate in the Government's Domestic Debt Exchange Programme (DDEP)," the statement read in part.

The Board explained that payments to some non-participating Cocoa Bill holders had remained outstanding because of financial constraints it faced after the implementation of the debt restructuring programme.

It noted that all outstanding obligations have now been cleared and advised beneficiaries to contact their respective fund managers to access their payments.

"The Board has now fully settled these obligations as part of its commitment to honour all legitimate debts. Beneficiaries are advised to contact their respective fund managers to access their payments," the statement stressed.

COCOBOD also expressed appreciation to the affected investors for their patience and understanding throughout the period the payments remained outstanding.