COCOBOD releases GH¢2.6 billion to pay cocoa farmers and clear delayed payments

Nii Ayitey Brown 09:33 - 03 July 2026

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A closeup image of a busket of cocoa pods. Image source: /www.ntu.edu.sg/cas

Ghana Cocoa Board (COCOBOD) has released GH¢2.6 billion to Licensed Buying Companies to pay cocoa farmers across Ghana, with GH¢1.4 billion earmarked to clear delayed payments owed to farmers.

Ghana Cocoa Board has released GH¢2.6 billion to Licensed Buying Companies to pay cocoa farmers nationwide.
About GH¢1.4 billion of the funds will be used to clear delayed payments owed to farmers for cocoa bought on credit.
COCOBOD says monitoring measures have been put in place to ensure all affected farmers receive their money.

The Ghana Cocoa Board (COCOBOD) has released GH¢2.6 billion to Licensed Buying Companies (LBCs) to pay cocoa farmers across Ghana, including farmers who have been waiting for delayed payments.

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In a statement issued on Thursday, July 2, COCOBOD said the funds are meant to settle outstanding payments for cocoa purchases in all cocoa-growing regions and ensure farmers receive money owed to them.

“The Ghana Cocoa Board (COCOBOD) wishes to inform all cocoa farmers and the general public that an amount of Two Billion, Six Hundred Million Ghana Cedis (GH¢2.6 billion) has been released to Licensed Buying Companies (LBCs) for payment to cocoa farmers for cocoa purchases across all cocoa regions,” the Board said.

Man with cocoa beans fetched in his palm

According to COCOBOD, out of the GH¢2.6 billion released, about GH¢1.4 billion has specifically been set aside to clear unpaid balances owed to farmers whose cocoa was bought on credit.

“Approximately GH¢1.4 billion has been earmarked to clear the remaining balance LBCs owe cocoa farmers for cocoa taken on credit,” the statement added.

The announcement comes after growing concerns within the country’s cocoa sector over delayed payments to farmers, with concerns being raised about cash flow challenges affecting cocoa purchases during the 2025/26 crop season.

COCOBOD disclosed that since the start of the 2025/26 crop season, it has already paid more than GH¢34.52 billion to Licensed Buying Companies for onward payments to farmers.

“Since the beginning of the 2025/26 Crop Season, COCOBOD has paid an amount of GH¢34,523,447,255.64 to Licensed Buying Companies (LBCs) for onward payment to farmers,” the Board stated.

Ghana remains the world’s second-largest cocoa producer after Côte d’Ivoire, with 800,000 to 1 million metric tons produced. Cocoa continues to be one of the country’s most important export commodities, generating income in foreign exchange annually.

To ensure the newly released funds reach the intended beneficiaries, COCOBOD says it has introduced monitoring measures and is working closely with Licensed Buying Companies.

“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 also assured farmers that no legitimate cocoa sale within the approved purchasing system would go unpaid.

“COCOBOD wishes to assure all cocoa farmers that no farmer will be denied payment for cocoa legitimately sold through the approved cocoa purchasing system,” it said.

Farmers who are still owed money have been advised to contact the Licensed Buying Company through which they sold their cocoa.

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