Ghana: Funding Delays Pushing Cocoa Buying Firms Into Debt

The Licensed Cocoa Buyers Association of Ghana (LICOBAG) has called on the government to urgently secure a financing facility to pay for an estimated 300,000 metric tonnes of cocoa in a phased manner between now and September.

It warned that failure to do so could lead to the collapse of the sector.

The association said any funds secured for cocoa purchases must be ring-fenced strictly for that purpose, stressing that the core mandate of the Ghana Cocoa Board (COCOBOD) was the purchase of cocoa…