Samuel Adimado, President of the Licensed Cocoa Buyers Association of Ghana (LICOBAG), has issued an apology to cocoa farmers still waiting for payments on beans they supplied months ago.
The delays have sparked outrage in cocoa-growing areas, especially the Ashanti Region, where farmers report not being paid for deliveries dating back to November 2025. Many face dire financial straits, with some threatening to sell their farms to illegal miners for quick cash to feed their families.
“We have no choice,” frustrated farmers said, adding they might turn to alternative buyers or galamsey operators offering instant payments if things don’t improve.
COCOBOD has disbursed about GH¢3.6 billion to Licensed Buying Companies (LBCs) for farmer payments, yet many suppliers insist they haven’t seen a cedi. LBCs themselves are under strain, owing banks GH¢7-8 billion a debt pileup that’s straining lenders amid Ghana’s economic recovery.
Observers suspect some LBCs are diverting COCOBOD funds to repay loans rather than farmers, fueling the crisis.
Speaking on Adom TV’s Badwam with Akwasi Nsiah, Adimado validated the farmers’ anger, noting some have been paid while others wait. He vowed the association is tackling the issues, warned members against loan repayments over farmer dues, and urged patience as steps are underway to clear all arrears soon.
Story by: Mercy Addai Turkson#ahotorfmonline.com