- COCOBOD owes over $600mn to farmers
- 50,000 tonnes of cocoa remain unsold
ACCRA, GHANA — Ghana is struggling to pay cocoa farmers months after deliveries, as its cocoa regulator grapples with more than GH¢10 billion ($600 million) in debt and 50,000 tonnes of unsold beans.
For more than three decades, Ghana financed its cocoa purchases through annual pre-export syndicated loans from international banks. The system was straightforward: borrow upfront, buy cocoa from farmers, export to chocolate manufacturers, then repay the loans.
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