The Management of Ghana Cocoa Board (COCOBOD) has met with commercial banks in Ghana to discuss key issues affecting the cocoa industry and the role of the banking sector in the 2025/2026 cocoa season, which opened on August 7, 2025.
Discussions at the meeting, which was attended by senior executives of COCOBOD and the Cocoa Marketing Company (CMC), focused on cocoa pricing, financing packages for Licensed Buying Companies (LBCs), and strategies to enhance the sector’s operational and financial stability.
In his opening remarks, the acting Deputy Chief Executive in charge of Finance and Administration, Mr. Ato Boateng, said the engagement was a reflection of COCOBOD’s renewed commitment to transparency and collaboration with financial partners in advancing the cocoa sector’s development agenda.
He outlined a comprehensive turnaround strategy aimed at reversing production decline, improving Free-On-Board (FOB) prices, reducing operational costs, ensuring fiscal discipline, achieving profitability, and restoring positive equity.
The strategy, he stressed, was designed to benefit all stakeholders, especially farmers, by ensuring sustainability along the cocoa value chain.
Mr. Boateng appealed to the banks to extend financial support to LBCs, input suppliers, and other value chain actors to ensure smooth operations throughout the season.
He disclosed that provisions have been made to repay part of COCOBOD’s outstanding debt, adding that the Government has also directed management of COCOBOD to withdraw from quasi-fiscal activities to focus on its core mandate.
The acting Deputy Chief Executive in charge of Finance and Administration touted the benefits of the new funding model used in the 2024/2025 season to finance cocoa purchases. The model is expected to shorten the payment cycle for LBCs because it prioritizes payments of Cocoa Taken-Over Receipts (CTORs) to ensure smooth cocoa purchases.
Representatives of the banks described the meeting as timely and constructive, commending COCOBOD’s strategic reforms and pledging to work closely with the Board to ensure adequate financing throughout the value chain.
They reaffirmed their commitment to supporting efforts to stabilise and revitalise the cocoa industry.
