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COCOBOD pays additional GH¢854m to LBCs

 


The Head of Public Affairs at the Ghana Cocoa Board (COCOBOD), Jerome Kwaku Sam, has announced an additional payment of GH¢854 million to Licensed Buying Companies (LBCs).

This follows an earlier payment of GH¢237 million for 50,000 metric tonnes of cocoa, bringing total disbursements to GH¢1.091 billion.

The announcement comes as Ghana’s cocoa sector faces crisis, with farmers complaining of delayed payments for several months.

In a Facebook post on Thursday, February 19, Sam wrote: “COCOBOD this morning, 19th Feb, 2026 has made payment of Ghc854m totalling Ghc1.091bn to LBCs.”

The government recently introduced reforms, including a reduction in the producer price for the remainder of the 2025/2026 crop season. The new price has been set at GH¢41,392 per tonne, equivalent to GH¢2,587 per bag. Authorities explained that the adjustment is intended to protect farmers amid falling global cocoa prices.

Meanwhile, COCOBOD revealed that it could save an estimated GH¢5 million monthly following salary reductions for its executive management and senior staff. Executives are taking a 20% pay cut, while senior staff will have 10% deducted from their salaries. The reductions have taken effect already and will remain for the rest of the 2025/2026 crop year.

The decision, announced in a press release on Monday, February 16, 2026, is part of broader measures to address liquidity challenges within the cocoa sector.

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