A spokesperson for the parliamentary Economy and Development Committee has urged the government to act immediately. Kojo Oppong Nkrumah stated that the Ghana Cocoa Board (COCOBOD) needs an urgent financial rescue. He warned that the entire cocoa value chain in Ghana is on the brink of collapse.
Mr. Nkrumah highlighted that Licensed Buying Companies (LBCs) have purchased cocoa worth about GH¢10 billion. These purchases date back to November 2025. However, COCOBOD has not yet honored its payment obligations to these companies.
The spokesperson emphasized the critical state of the cocoa sector. He noted that the non-payment is creating severe difficulties for LBCs. This situation affects farmers and others involved in cocoa production.
The Ghana Cocoa Board plays a vital role in the country's economy. Its inability to pay LBCs could have widespread negative effects. The government's intervention is seen as essential to prevent further damage.
The warning underscores the financial challenges facing a key agricultural sector. Addressing these debts is crucial for the stability of Ghana's cocoa industry. A bailout would help COCOBOD fulfill its responsibilities to LBCs.