Cocoa farmers in Ghana say they have yet to receive payments for deliveries, even after the regulator released funds to buyers to settle arrears and support the struggling sector.
The Ghana Cocoa Board (COCOBOD) said last week it had released 3.62 billion cedis ($336.74 million) to Licensed Buying Companies (LBCs) to clear outstanding payments owed to farmers dating back to November 2025, according to Reuters.
The disbursement, made following a directive from the finance ministry, was intended to ensure prompt payment to farmers and improve liquidity in the cocoa sector.
However, farmers and purchasing clerks report that the funds have not yet reached them, raising concerns that the money may be used instead to service debts owed by cocoa buyers to banks. COCOBOD did not immediately respond to a request for comment.
“We have still not been paid since November,” said purchasing clerk Justice Osei Bonsu. “Farmers think we are holding their money, but the truth is we have not received anything.”
Another purchasing clerk, Enoch Egyir, said payments under both the previous cocoa price and the new price announced in February remain outstanding.
“They have not paid us for what we delivered under the old price since November, nor for what we delivered under the new price,” he said. “We plead with the government to intervene.”
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Farmer Ebenezer Asiful said he is owed payment for more than 35 bags of cocoa delivered since December, as well as 11 bags supplied after the recent price reduction.
“We heard in the news that COCOBOD has released funds,” he said. “So how is it that the LBC we work with has not received any money to pay us?”
Industry representatives say immediate payments to all farmers are not possible.
“With between 800,000 and one million cocoa farmers, payments cannot be made at the same time,” said Samuel Adimado. He added that COCOBOD is still releasing funds to licensed cocoa buyers and urged farmers yet to be paid to remain patient.
Buyers currently owe local banks between 7 billion and 8 billion cedis, debts accumulated after loans were taken to prefinance cocoa purchases.
Adimado said the association has advised its members to prioritize payments to farmers once they receive funds from COCOBOD.
“We know you owe the banks, but prioritise the farmers once you receive any funds from COCOBOD,” he said.
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Image Credit: Independent
