COCOBOD releases GH¢2.6 billion to LBCs to pay cocoa farmers
The Ghana Cocoa Board (COCOBOD) released GH¢2.6 billion to Licensed Buying Companies (LBCs) on Thursday, July 2, to facilitate payments to cocoa farmers for cocoa purchases across all cocoa-growing regions. COCOBOD stated the funds are intended to ensure farmers receive payments for cocoa supplied through the approved cocoa purchasing system. Out of the GH¢2.6 billion released, approximately GH¢1.4 billion has been earmarked to clear the outstanding balance owed to farmers for cocoa purchased on credit by the LBCs.
COCOBOD has paid a total of GH¢34.52 billion to Licensed Buying Companies since the start of the 2025/26 crop season for onward payment to cocoa farmers. The Board is working closely with the buying companies to ensure all affected farmers receive their payments promptly and has put in place monitoring mechanisms to ensure funds are paid directly to owed farmers. COCOBOD acknowledged the patience and resilience of cocoa farmers during payment delays and assured them no farmer would be denied payment for legitimately sold cocoa. Farmers with outstanding payments were encouraged to engage their Licensed Buying Company.
Quick Summary
The Ghana Cocoa Board (COCOBOD) has released a significant amount of money to Licensed Buying Companies (LBCs) to address payments for cocoa
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