Ghana news briefing
COCOBOD bans LBCs from buying cocoa on credit, warns of licence revocation
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The directive comes as COCOBOD prepares to introduce a new financing model for cocoa purchases, which is expected to provide sufficient liquidity for procurement and related operations throughout the year.
Dr Abbey said the new model is expected to take effect from the 2026/27 cocoa crop year and will seek to eliminate delays in payments to LBCs after they take over cocoa from farmers.
The Ghana Cocoa Board (COCOBOD) has directed Licensed Buying Companies (LBCs) to stop purchasing cocoa beans from farmers on credit, warning that companies that violate the directive could have their operating licences revoked.
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