In a significant move to stabilize its financial position, the Ghana Cocoa Board has successfully paid out GH¢2 billion in coupons to investors holding restructured cocoa bonds as of September 1, 2025.
This payment follows the implementation of the Domestic Debt Exchange Programme, which saw short-term cocoa bills converted into long-term bonds, primarily affecting the balance sheets of local commercial banks.
The organization has further committed to fulfilling approximately GH¢1.9 billion in additional interest payments due over the next two years, signaling a rigorous adherence to its new debt repayment schedule.
Under the leadership of Dr. Randy Abbey, COCOBOD has been working to streamline its operations and clear long-standing debts owed to various suppliers. These efforts are designed to improve the institution’s creditworthiness, allowing it to secure future funding at more favorable interest rates.
Market observers suggest that this successful debt servicing will be vital for the board’s ability to finance the upcoming cocoa crop season effectively.
Supporting these internal reforms is a massive new financial arrangement announced by Bank of Ghana Governor Dr. Johnson Asiama. The central bank expects more than $4 billion in foreign currency inflows through a pre-financing agreement with international cocoa buyers.
This substantial injection of capital is intended to provide the necessary liquidity for purchasing cocoa beans from farmers while simultaneously strengthening Ghana’s national reserves and providing a buffer for the local currency.
