COCOBOD pays GH¢2bn in cocoa bond coupons
The Ghana Cocoa Board (COCOBOD) has cleared coupon payments totalling GHS2 billion to investors of its restructured cocoa bills.
Payments were made on Monday, 1 September 2025, to holders of the instruments, which were reclassified as bonds under the government’s Domestic Debt Exchange Programme (DDEP).
The restructuring, which largely affected commercial banks, saw cocoa bills converted into bonds.
COCOBOD has assured investors it will also meet upcoming coupon obligations of about GHS1.9 billion due in 2026 and 2027, alongside the repayment of principals, as scheduled.
The new arrangement was facilitated by local banks acting as transaction advisors.
In recent months, COCOBOD has intensified efforts to clean up its balance sheet, settle arrears and strengthen its financial standing to support cocoa purchases.
These steps, insiders say, are already yielding results, particularly in clearing debts owed to suppliers.
Market analysts believe the restructuring could significantly improve COCOBOD’s creditworthiness, enabling it to secure fresh funding at lower costs.
This, they argue, would enhance its capacity to purchase cocoa beans for the next crop season while boosting investor confidence.
Chief Executive of COCOBOD, Dr Randy Abbey, told the media that management remains committed to placing the institution on a firm financial footing by the end of the administration’s first term.
Meanwhile, Governor of the Bank of Ghana, Dr Johnson Asiama, disclosed that COCOBOD expects to receive over USD4 billion in inflows from buyers under a new pre-financing deal.
The inflows are expected to support cocoa purchases for the upcoming season and bolster Ghana’s international reserves, while also helping to stabilise the cedi.
