A deepening liquidity crisis within Ghana’s cocoa sector has left thousands of farmers in financial limbo, with payment delays of up to six months stalling the harvesting process. Despite reporting strong yields this season, farmers across the country are now struggling to cover basic labour and harvesting costs, threatening the stability of a sector that sustains approximately 800,000 families.
The impact of these delays has been immediate. Theophilus Tamakloe, Vice President of the Ghana Cocoa Cooperatives Association, revealed that the crisis is affecting over 340,000 of his members. “I have cocoa on the trees that needs to be harvested, but there is no money to even do that,” Mr. Tamakloe stated. He noted that he is currently withholding 14 bags—weighing a total of 896kg—from Licensed Buying Companies (LBCs), refusing to release his stock until he receives immediate payment rather than credit.
This sentiment is shared by individual farmers like Abdulai Adoswin, who reported a successful harvest of 300 bags this season, up from 190 last year. However, Mr. Adoswin warned that such progress is unsustainable if farmers are not paid before the season concludes in late 2026.
While the Ghana Cocoa Board (COCOBOD) maintains that it is actively disbursing funds to LBCs to clear arrears dating back to November, the situation on the ground contradicts official claims. Sources from two LBCs, speaking on condition of anonymity to Reuters, confirmed they are still awaiting payments for beans already supplied to the regulator. One source alleged, “My understanding is that COCOBOD has sold all the beans supplied for the 2025/26 season. We are still waiting to be paid and I really don’t know what is going on anymore.”
COCOBOD has not provided an immediate response to inquiries regarding the discrepancy, stating only that it would investigate the matter.
The payment backlog arrives amidst a broader economic strain on the cocoa industry, which has seen production pressured by ageing farms, crop diseases, erratic weather patterns, and the encroachment of illegal mining. Bank of Ghana data underscores the severity of the trend, reporting that cocoa exports fell by approximately 20% year-on-year to 956.3 million cedis ($86 million) in February 2026.
For the farming community, the immediate priority remains the resolution of these arrears, as the current financial gridlock threatens to undermine the gains made during the recent harvest season.
