The Ghana Cocoa Board (COCOBOD) has successfully settled coupon payments totaling GH¢2 billion to investors holding its restructured cocoa bills. The payments were made on Monday, September 1, 2025, according to information available to Joy Business.
Following the Domestic Debt Exchange Programme, the cocoa bills were converted into bonds—a restructuring that largely affected commercial banks. Sources indicate that COCOBOD has assured investors it will also meet coupon obligations of about GH¢1.9 billion due in 2026 and 2027, alongside the timely repayment of principal.
The arrangement was facilitated by some local banks acting as transaction advisors. It forms part of COCOBOD’s broader strategy to clean its books, clear outstanding debts, and strengthen its financial position to sustain cocoa purchases. Early signs suggest the measures are yielding positive results, particularly in settling arrears with suppliers.
Market analysts note that the restructuring could enhance COCOBOD’s ability to secure fresh funding at more competitive rates, boosting its capacity to purchase cocoa beans for the next crop season and improving its overall credit profile.
Chief Executive of COCOBOD, Dr. Randy Abbey, told Joy Business that he remains committed to placing the institution on solid financial footing before the end of the current administration’s first term.
Meanwhile, Governor of the Bank of Ghana, Dr. Johnson Asiama, disclosed that COCOBOD expects more than $4 billion in inflows from buyers under a new pre-financing arrangement. The deal is projected to support cocoa purchases for the upcoming crop season while bolstering Ghana’s international reserves and the stability of the cedi.
