COCOBOD faces GH¢4bn debt crisis ahead of new cocoa season

The Ghana Cocoa Board (COCOBOD) is facing significant pressure regarding nearly GH¢4 billion in outstanding payments owed to Licensed Buying Companies (LBCs). The Chamber of Cocoa Marketers Ghana (CCMG) reports that these arrears, stemming from the 2025/26 cocoa season, are hindering the ability of LBCs to secure fresh credit and working capital needed for the upcoming 2026/27 crop season.

Victus Dzah, CEO of the CCMG, noted that the debt is straining operations, as some buying companies are forced to borrow at interest rates as high as 40% to cover costs while waiting for reimbursement. This financial burden threatens the commercial viability of many purchasing operations and could create a supply chain bottleneck.

COCOBOD has responded by stating that the recent end of the previous season means accounts are still being reconciled. A meeting between COCOBOD leadership and the Chamber is expected to take place next week to address these outstanding issues and provide assurances before the new season officially begins.