In a major breakthrough for individual financiers who held out against the government’s debt restructuring aggressively driven three years ago, the Ghana Cocoa Board (COCOBOD) has fully settled its outstanding financial obligations.
The state cocoa regulator officially announced that it has disbursed GH¢162 million to individual holders of Cocoa Bills who opted not to participate in the 2023 Domestic Debt Exchange Programme (DDEP).
The long-awaited funds had been frozen or delayed on the back of intense fiscal distress, making this payout a major milestone in restoring investor trust within the agricultural financial framework.
Honoring “Legitimate Debts”
In an official statement released by COCOBOD’s Public Affairs Department, the administration openly acknowledged the financial bottleneck that left many individual investors stranded after the 2023 macro-economic restructuring.
“Following the implementation of the DDEP in 2023, payments to some non-participating Cocoa Bill holders remained outstanding due to COCOBOD’s financial constraints,” the Board clarified.
However, with its current financial cleanup yielding positive liquidity, COCOBOD noted that it is prioritizing the absolute resolution of all unfulfilled promises.
“The Board has now fully settled these obligations as part of its commitment to honour all legitimate debts. Beneficiaries are advised to contact their respective fund managers to access their payments,” the regulator emphasized.
Restoring Long-Term Investor Confidence
The massive payout comes at a time when the cocoa regulator is aiming to clean up its balance sheet and protect the sovereign value of Ghana’s primary agricultural export commodity.
By dealing directly with the holdout bill holders, COCOBOD expects to renew confidence across both local retail spaces and international credit institutions.
Expressing appreciation to the public and institutional partners who bore the brunt of the delays, the statement concluded:
“COCOBOD expresses its appreciation to the affected investors for their patience and understanding and remains committed to restoring confidence, strengthening its financial position, and ensuring the long-term sustainability of Ghana’s cocoa industry.”
Affected individual investors have been given the green light to immediately coordinate with their assigned commercial fund managers to begin processing the withdrawals of their long-overdue capital.
