Dr. Randy Abbey
The Ghana Cocoa Board (COCOBOD) has completed the payment of GH¢2 billion in coupons to investors holding its restructured cocoa bills.
According to reports, the payments were facilitated by some local banks acting as transaction advisors under the new cocoa board arrangements.
The settlement, made on Monday, September 1, 2025, marks a significant step in COCOBOD’s efforts to rebuild market confidence after reclassifying cocoa bills into bonds under the Domestic Debt Exchange Programme (DDEP).
Sources said COCOBOD had assured investors of meeting scheduled coupon payments of about GH¢1.9 billion due in 2026 and 2027, alongside timely repayment of the principal.
In recent months, COCOBOD has been implementing measures to clean its books, settle debts, and strengthen its financial position to support cocoa purchases.
Sources indicated that these steps were already yielding positive results, particularly in debt settlements with some suppliers.
Market analysts believe the restructuring could improve COCOBOD’s ability to secure fresh funding at lower rates, enhancing its capacity to purchase cocoa beans for the next crop season while boosting its credit rating.
In an interview with Joy Business, COCOBOD Chief Executive, Dr. Randy Abbey, reaffirmed his commitment to strengthening the institution’s financial position by the end of the government’s tenure in office.
Meanwhile, the Bank of Ghana Governor, Dr. Johnson Asiama, has disclosed that COCOBOD is expecting more than $4 billion in inflows from buyers under a newly arranged pre-financing agreement.
He noted that the funds would support cocoa purchases for the upcoming crop season, help shore up Ghana’s international reserves, and contribute to stabilising the cedi.
By Ebenezer K. Amponsah