COCOBOD Clears GHS 2bn Coupon Arrears, Pledges to Meet 2026–2027 Obligations
The Ghana Cocoa Board (COCOBOD) has honoured coupon payments worth GH¢2 billion to investors holding its restructured cocoa bills, now classified as bonds.
According to sources, payments were effected on Monday, September 1, 2025, covering mainly commercial banks that were impacted by the Domestic Debt Exchange Programme (DDEP).
The restructuring saw the short-term cocoa bills converted into longer-dated bonds, with COCOBOD assuring investors of its commitment to meet coupon payments of about GH¢1.9 billion due in 2026 and 2027, in addition to the principal, on schedule.
The new arrangement was facilitated by local banks acting as transaction advisors.
In recent months, COCOBOD has stepped up efforts to clean its balance sheet, settle outstanding obligations, and restore financial stability to sustain cocoa purchases. Sources say the steps are already yielding results, particularly in debt settlements with suppliers.
Market analysts believe the restructuring exercise positions COCOBOD to secure fresh funding at more competitive rates, enhancing its ability to finance cocoa purchases in the upcoming crop season while improving its overall credit rating.
COCOBOD Chief Executive, Dr. Randy Abbey, has said that management remains committed to placing the institution on a solid financial footing by the end of the administration’s first term.
Meanwhile, Governor of the Bank of Ghana, Dr. Johnson Asiama, disclosed that COCOBOD is expecting inflows of over US$4 billion from buyers under a new pre-financing arrangement. The inflows are expected to support cocoa purchases for the 2025/26 crop season and strengthen Ghana’s international reserves, thereby bolstering the stability of the cedi.
