Ghanaian cocoa farmers are voicing concerns over unpaid deliveries, despite the industry regulator releasing substantial funds intended to clear their arrears and bolster the struggling sector.
The Ghana Cocoa Board (COCOBOD) confirmed last week it had disbursed 3.62 billion cedis ($336.74 million) to Licensed Buying Companies (LBCs).
This significant allocation was specifically designated to settle outstanding payments owed to farmers, with some debts reportedly stretching back to November 2025.
Issued following a directive from the finance ministry, the funds were meant to facilitate prompt payments to growers and improve liquidity across the cocoa industry.
However, farmers and purchasing clerks alike report that the money has not yet reached them. This discrepancy has raised questions about the funds’ actual use, with suspicions emerging that they might instead be servicing debts owed by cocoa buyers to banks.
COCOBOD has not immediately responded to a request for comment regarding these allegations.
“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 those under the 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.”
Farmer Ebenezer Asiful said he was 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 players say payments cannot be made immediately across the sector.
“With between 800,000 and one million cocoa farmers, payments cannot be made at the same time,” Samuel Adimado, president of the Licensed Cocoa Buyers Association of Ghana, told local media.
He said COCOBOD was 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 they took out loans to prefinance cocoa purchases.
Adimado said the association had advised its members to prioritise 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.
Source: independent.co.uk