President John Dramani Mahama has called an emergency Cabinet meeting scheduled for Wednesday, February 11, 2026, to address mounting challenges confronting Ghana’s cocoa sector.
The announcement was made by the Minister of State in charge of Government Communications, Felix Kwakye Ofosu.
The emergency session comes amid growing concerns over prolonged payment delays to cocoa farmers, liquidity constraints at the Ghana Cocoa Board (COCOBOD), and warnings of a potential collapse of the industry.
A cocoa purchasing clerk with over 20 years of experience described the current situation as unprecedented, revealing that farmers who supplied cocoa months ago have yet to receive payment.
“From November till now, I can’t sleep. I have taken about 250 bags of cocoa from farmers, and they are always at my doorstep demanding their money. In my 20 years as a purchasing clerk, I have never seen a situation where cocoa is bought, and the government cannot pay,” he said at a recent People’s Forum in Abuakwa South.
The concerns have been echoed by the Licensed Cocoa Buyers Association of Ghana (LICOBAG), which has warned of a looming crisis in the sector.
LICOBAG President, Samuel Adimado, attributed the payment delays to severe funding and liquidity challenges facing COCOBOD, noting that the situation has directly affected both Licensed Buying Companies (LBCs) and cocoa farmers nationwide.
He disclosed that the government must urgently secure funding to pay for an estimated 300,000 metric tonnes of cocoa between now and September to stabilise the sector.
According to him, the traditional syndicated funding model used to finance cocoa purchases has failed, making it necessary to adopt a hybrid funding approach to prevent further disruptions.
Adimado also appealed to COCOBOD to immediately settle outstanding payments for cocoa beans already supplied, warning that continued delays could deepen the crisis and undermine farmer confidence.
“Wherever COCOBOD can get the money, they should try and get it so we can pay our members, and our members can also pay the farmers,” he stated.
Meanwhile, the Chief Executive Officer of COCOBOD, Randy Abbey, has acknowledged a significant disruption in the cocoa market.
Addressing a press conference at Cocoa House in Accra on Friday, February 6, 2026, he revealed that although COCOBOD has sold more than 530,000 tonnes of cocoa for the current season, about 50,000 tonnes remain unsold and still with farmers.
Abbey attributed the situation to Ghana’s non-competitive farmgate price, which has made it difficult for buyers to absorb the excess cocoa.
“The situation is where we have beans, but they are not buying; the beans are too expensive,” he said.
He assured that efforts are underway to address the delayed payments.
Source: Ghanaweb
