Randy Abbey
The Ghana Cocoa Board (COCOBOD) has announced that it has released GH¢2.6 billion to Licensed Buying Companies (LBCs) for payment to cocoa farmers across all cocoa-growing regions.
In a statement issued on Thursday, July 2, 2026, COCOBOD said that since the beginning of the 2025/2026 crop season, it has paid a total of GH¢34,523,447,255.64 to Licensed Buying Companies for onward payment to farmers.
“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,” parts of the statement read.
According to the statement, out of the GH¢2.6 billion released, approximately GH¢1.4 billion has been earmarked to clear the remaining balance that LBCs owe cocoa farmers for cocoa taken on credit.
It added that COCOBOD is working closely with the Licensed Buying Companies to ensure that all affected farmers receive their payments, noting that monitoring mechanisms have been put in place to ensure the funds reach intended beneficiaries.
The Board also acknowledged the patience, resilience and understanding demonstrated by cocoa farmers during the challenging period, assuring them that no farmer would be denied payment for cocoa legitimately sold through the approved purchasing system.
“Farmers with outstanding payments are encouraged to engage the relevant Licensed Buying Companies through which they sold their cocoa as COCOBOD continues to work with all stakeholders to ensure the full settlement of outstanding obligations,” the statement added.
COCOBOD further stated that the release of funds underscores government’s commitment to safeguarding the welfare of cocoa farmers and preserving the integrity of the country’s cocoa industry, while ensuring farmers receive the full benefits of their hard work.
It expressed appreciation to cocoa farmers for their continued dedication and invaluable contribution to Ghana’s economy, adding that 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 the sector.
By Ebenezer K. Amponsah