The Ghana Cocoa Board (COCOBOD) says it is putting the final touches on a new way of funding Ghana’s cocoa sector.
The new system is expected to begin in the 2026/2027 cocoa season and is aimed at helping cocoa prices remain stable while ensuring farmers earn more reliable incomes.
The Chief Executive Officer of COCOBOD, Dr. Randy Abbey, shared this information during a major discussion on cocoa financing at the Africa Cocoa Finance & Investment Forum 2026.
Dr. Abbey explained that for more than 30 years, Ghana has depended on syndicated loans to finance cocoa purchases each season.
Under this system, large amounts of cocoa are sold in advance to international financiers in exchange for funding.
He said the arrangement has helped Ghana get the money needed to buy cocoa from farmers, but it has also meant that a large share of the country’s cocoa crop, between 70% and 92%, had to be used as security for these loans from foreign lenders.
According to him, this situation shows why Ghana needs a new and better approach.
Dr. Abbey said the new funding model will introduce a different pricing system where cocoa producer prices could be reviewed several times during the season, possibly every three months.
This is expected to help farmers benefit more fairly when global cocoa prices change.
He also said the new system will allow more local businesses to take part in the cocoa industry.
It will improve access to financing for local cocoa processors and Ghanaian-owned companies, while helping the country keep more value from its cocoa sector.
Dr. Abbey added that Ghana’s financial sector is becoming stronger and that investors are showing growing interest in structured financial products, giving him confidence that the transition will succeed.
He admitted that some stakeholders, especially Licensed Buying Companies and investors, have concerns about how the new financing system will work and how large it will be.
However, he said COCOBOD is preparing a detailed prospectus that will clearly explain how interested parties can participate before the 2026/2027 cocoa season begins.
He stressed that the reforms are intended to better protect cocoa farmers from sudden changes in global cocoa prices.
The forum was organised by Cocoa Trade and Invest Africa in partnership with the International Cocoa Organisation and the UK office of the Cocoa Marketing Company to encourage investment and reforms in Africa’s cocoa industry.
