The Produce Buying Company (PBC) says it has secured a financing facility backed by a GH₵30 million credited cocoa stock to enable it pay farmers promptly amid ongoing liquidity challenges within Ghana’s cocoa sector.
The move comes at a time several Licensed Buying Companies (LBCs) continue to struggle with severe cash constraints and delayed payments to farmers, a situation that has heightened concerns across the cocoa supply chain.
Speaking at the signing of a Memorandum of Understanding between the Produce Buying Company and the Ghana National Cocoa Farmers Association (GNACOFA), Deputy Managing Director in charge of Finance, Thomas Ayisi described the facility as a major intervention aimed at restoring confidence among cocoa farmers, and repositioning the company after years of financial difficulties.
“PBC has secured a facility for paying credited stocks from farmers. In doing so, we distinguish ourselves from competitors who still owe. This act restores credibility and rebuilds trust at the grassroots which is the very foundation of our sector.”
“This GNACOFA-backed facility, which was supported by 30 million cedis credited stocks, is proof that PBC is not merely surviving but actively restructuring”, he said.
According to him, the financing arrangement will strengthen PBC’s operational capacity and ensure timely payments to farmers during the cocoa purchasing season.
Mr. Ayisi noted that the company remains committed to rebuilding its relationship with cocoa farmers by improving efficiency and addressing longstanding challenges that have affected operations in recent years.
He added that the partnership with GNACOFA forms part of broader efforts to deepen collaboration with farmers and enhance sustainability within the cocoa sector.
The National President of the Ghana National Cocoa Farmers Association, Stephenson Anane Boateng said the partnership will support efforts to address major challenges confronting the cocoa sector including smuggling and illegal mining.
“This partnership with PBC presents an opportunity to establish stronger systems and structures that will directly support cocoa farmers and improve their welfare.
The agreement is also expected to help stabilise farmer incomes at a time the sector continues to face financing and operational pressures.
