President John Dramani Mahama has announced an emergency Cabinet meeting to address pressing issues in Ghana’s cocoa sector, according to Felix Kwakye Ofosu, Minister of State in charge of Government Communications.
The meeting, set for Wednesday, February 11, 2026, comes amid growing concerns over delayed payments to cocoa farmers, unsold cocoa beans at the ports, and financial difficulties faced by Licensed Buying Companies (LBCs).
Randy Abbey, Chief Executive of COCOBOD, confirmed on February 6, 2026, that payment delays have affected many farmers. “Cocoa farmers deserve an apology,” he said, adding that COCOBOD, the Ministry of Finance, and the government are working together to resolve the challenges. Industry reports indicate that thousands of farmers have not been paid for cocoa delivered since November 2025.
The Minority Caucus in Parliament revealed that COCOBOD owes LBCs over GH¢10 billion for cocoa already supplied.
Mr. Abbey also noted that while COCOBOD has successfully sold more than 530,000 tonnes this season, around 50,000 tonnes remain unsold at the ports. These challenges are partly linked to falling global cocoa prices. Ghana pays farmers roughly GH¢58,000 per tonne, whereas world prices were around $4,200 per tonne as of February 6, 2026—a 57% drop compared to the same period last year. Meanwhile, Ghana’s production and export costs average about $6,300 per tonne.
The country’s cocoa financing system has also shifted in recent years. Traditional syndicated loans were unavailable for the 2024–2025 season, prompting the use of alternative models, including 60:40 and, more recently, 80:20 arrangements.
During the Cabinet meeting, officials are expected to explore solutions for pending payments, review cocoa pricing policies, and consider long-term financing strategies to stabilize the sector.