The Minority in Parliament has called on government and the Ghana Cocoa Board to urgently pay cocoa farmers and licensed buying companies, warning that continued delays could destabilise the country’s cocoa industry.
Addressing a press conference on Thursday, February 5, the Minority said cocoa already taken over from licensed buying companies remains unpaid for, leaving farmers and businesses struggling to stay afloat.
According to the group, the situation has locked up working capital, slowed operations and weakened confidence among financiers who support the sector.
Dr Isaac Yaw Opoku, Ranking Member on Parliament’s Agriculture and Cocoa Affairs Committee, said the delay in settling payments is placing serious strain on indigenous businesses involved in cocoa purchasing and financing.
He explained that licensed buying companies rely on timely repayment to continue operations and meet obligations to farmers and lenders. With funds tied up, he said many of these businesses face growing financial risk, threatening jobs and the wider cocoa value chain.
Dr Opoku criticised the government’s approach, saying it contradicts earlier commitments to support local enterprises. He argued that instead of strengthening indigenous participation in the cocoa industry, current actions are undermining businesses that form the backbone of cocoa production and trade.
The Minority urged government and COCOBOD to act immediately to clear outstanding payments, stressing that failure to do so could erode trust in the sector and weaken Ghana’s position as a leading cocoa producer.