African News Business and Economy

Cocobod Owes LBCs $185m

By Ajuma N / February 11, 2026

Licensed Buying Companies (LBCs) say Cocobod owes them about $185 million for two cocoa seasons. The president of the Licensed Cocoa Buyers Association, Samuel Adimado, said some members have not been paid for two years.

He explained that the unpaid bills have created a funding crisis in the cocoa purchasing chain. Mr Adimado said LBCs often borrow from banks to buy cocoa from farmers and later wait for reimbursement from Cocobod. During the 2023/2024 season, he noted that payments were delayed for nine months. He added that about 50,000 purchasing clerks working in farming communities are also affected.

According to him, delays have created the false impression that LBCs are withholding farmers’ money. The association says it is engaging Cocobod and the Finance Ministry to resolve the crisis and stabilise the cocoa sector.

About The Author

Ajuma N

See author's posts

Tags:

You may also like

Leave a Reply

Your email address will not be published. Required fields are marked *