The Ghana Cocoa Board (COCOBOD) has failed to honour its commitment to substantially clear outstanding cocoa payment arrears by the end of June 2026, leaving approximately GH¢3.4 billion still unpaid to cocoa farmers and Licensed Buying Companies (LBCs), despite earlier assurances that only an insignificant balance would remain.

The development has renewed concerns over the financial challenges confronting the cocoa sector, where delayed payments have dominated discussions throughout the 2025/2026 crop season.

The issue has affected thousands of cocoa farmers, purchasing clerks and Licensed Buying Companies, many of whom have struggled with liquidity constraints while waiting to receive payments for cocoa already purchased.

On June 15, during an interview on JoyNews’ PM Express, COCOBOD’s Head of Public Affairs, Jerome Sam, assured Ghanaians that the Board would settle almost all outstanding arrears before the close of June.

“Before the end of this month, if all farmers or all LBCs who are owed are not paid, I’m sure it will be left with an insignificant amount to be owed,” Mr. Sam stated.

When further asked whether the remaining arrears would be cleared before the end of June, he replied in the affirmative.

However, figures released by COCOBOD after the deadline indicate that the Board fell short of that commitment.

In a statement issued on July 2, COCOBOD announced the release of GH¢2.6 billion to Licensed Buying Companies to facilitate payments within the cocoa purchasing system. Of that amount, approximately GH¢1.4 billion was allocated to settle outstanding payments owed to cocoa farmers whose cocoa had been purchased on credit, while GH¢1.2 billion was designated to reimburse Licensed Buying Companies that had pre-financed cocoa purchases from farmers.

Prior to the latest disbursement, COCOBOD had acknowledged total outstanding obligations exceeding GH¢6 billion. Based on the Board’s own figures, the GH¢2.6 billion released represents only about 43 percent of the outstanding debt, leaving an estimated GH¢3.4 billion—approximately 57 percent—still unpaid.

The latest figures suggest that although some progress has been made in reducing the arrears, COCOBOD did not achieve the near-complete settlement it had publicly promised.

The cocoa payment crisis has remained one of the biggest challenges facing the cocoa industry throughout the season.

Farmers across cocoa-growing communities repeatedly complained about delays in receiving payments after delivering cocoa beans, while purchasing clerks cited inadequate funding from Licensed Buying Companies, forcing many purchases to be conducted on credit.

The issue eventually became a major national political debate, prompting the Minority Caucus in Parliament, led by Minority Chief Whip Frank Annoh-Dompreh, to embark on nationwide engagements with cocoa farmers across the Eastern, Ashanti, Ahafo, Bono, Bono East and Central Regions.

During those visits, farmers, chiefs and purchasing clerks consistently appealed to government to release funds to enable Licensed Buying Companies to pay outstanding debts. Several communities warned that the prolonged delays were affecting household incomes, school fees, healthcare expenses and preparations for the next cocoa production season.

The concerns have also been echoed by former COCOBOD officials and industry stakeholders, who have argued that restoring confidence in the cocoa purchasing system requires prompt and predictable payments to farmers and stronger financial support for Licensed Buying Companies.

The remaining unpaid GH¢3.4 billion continues to place significant pressure on Licensed Buying Companies, many of which financed cocoa purchases through commercial borrowing while awaiting reimbursement from COCOBOD.