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COCOBOD threatens licence loss for LBCs buying cocoa from farmers on credit
August 14, 2026
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COCOBOD threatens licence loss for LBCs buying cocoa from farmers on credit

Money
Policy
Opportunity
Growth

Key Points

  • COCOBOD has prohibited Licensed Buying Companies (LBCs) from purchasing cocoa beans from farmers on credit, threatening licence revocation for non-compliance.
  • The directive aims to ensure prompt payments to farmers and enhance the efficiency of the cocoa purchasing system.
  • A new financing model for cocoa purchases, effective from the 2026/27 season, seeks to provide LBCs with year-round liquidity and address payment delays.
  • This new model is also designed to support increased domestic processing and value addition by freeing up cocoa previously used as collateral.
  • The new Ghana Cocoa Board Bill 2026 guarantees farmers 70% of the cocoa's Free On Board (FOB) value, allowing for in-season price reviews, marking the most significant reforms since 1984.

Why This Matters

These reforms are critically important for Ghana as they target the foundational cocoa sector, a major contributor to the nation's economy and rural livelihoods. By ensuring timely payments to farmers, improving financing for LBCs, and promoting domestic value addition, these changes aim to enhance the sector's sustainability, farmer welfare, and Ghana's overall economic resilience and export potential.

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