COCOBOD settles GH¢162m outstanding cocoa bill debts

The Ghana Cocoa Board (COCOBOD) has announced that it has fully settled GH¢162 million in outstanding obligations owed to individual holders of Cocoa Bills who did not participate in the government's Domestic Debt Exchange Programme (DDEP).

In a statement issued on Tuesday, COCOBOD said the payment marks the full settlement of all outstanding obligations to eligible investors and demonstrates the board's commitment to honouring its financial responsibilities despite previous challenges.

COCOBOD clears outstanding cocoa bill obligations.

According to COCOBOD, payments to some non-DDEP cocoa bill holders remained outstanding following the implementation of the Domestic Debt Exchange Programme in 2023 due to financial constraints facing the board.

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However, the institution has now paid GH¢162 million, bringing all outstanding obligations to eligible individual investors to a close.

COCOBOD urged all beneficiaries to contact their respective fund managers to access their payments.

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The board noted that the settlement is part of ongoing efforts to strengthen its financial position while fulfilling all legitimate obligations owed to investors.

Payment expected to boost investor confidence

COCOBOD expressed appreciation to the affected investors for their patience and understanding during the period of delayed payments.

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The board reiterated its commitment to restoring investor confidence, improving financial stability and ensuring the long-term sustainability of Ghana's cocoa industry.

It added that honouring the outstanding obligations reflects its determination to maintain trust within Ghana's financial and cocoa sectors while safeguarding the interests of investors.

The latest payment is expected to provide relief to affected cocoa bill holders and reinforce confidence in COCOBOD's commitment to meeting its financial obligations.