The Ghana Cocoa Board (COCOBOD) has released GH¢2.6 billion to Licensed Buying Companies (LBCs) to facilitate payments to cocoa farmers across all cocoa-growing regions.
In a press release issued on July 2, COCOBOD said approximately GH¢1.4 billion of the amount has been earmarked to clear outstanding debts owed to farmers for cocoa that was purchased on credit.
According to the Board, it has so far disbursed more than GH¢34.5 billion to Licensed Buying Companies since the start of the 2025/26 crop season for onward payment to cocoa farmers.
COCOBOD said it is working closely with the Licensed Buying Companies and has put in place monitoring mechanisms to ensure that the funds reach all affected farmers.
The Board assured cocoa farmers that no farmer would be denied payment for cocoa legitimately sold through the approved cocoa purchasing system. It also urged farmers with outstanding payments to engage the Licensed Buying Company through which they sold their produce.
COCOBOD described the release of the funds as a demonstration of the government’s commitment to protecting the welfare of cocoa farmers and maintaining the integrity of Ghana’s cocoa industry.
The Board also expressed appreciation to cocoa farmers for their resilience and contribution to the country’s economy, pledging to continue working with government and industry stakeholders to strengthen the cocoa value chain and improve farmer welfare.
By: Bernard Mensah |Planbfmonline.com
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