The state buyer owes 673 million cedis, including 24 million cedis for more than 9,000 bags, while a bank consortium won a March court order over 257 million cedis.
A source said PBC has not paid thousands of farmers since November 2025, lacks funds to resume purchases and has not been reimbursed by COCOBOD for 800 metric tons delivered.
The crisis deepens strain in Ghana's cocoa sector, hit by weaker demand and lower prices. PBC, once holding 30% market share and now under 5%, says promised government support has not arrived.
As its state cocoa buyer collapses, can Ghana's plan for local processing save its farmers from financial ruin?
Is the failure of Ghana's 'buyer of last resort' a sign its entire state-controlled cocoa model is broken?
With Ghana's cocoa sector in turmoil, will corruption and debt create a bitter future for chocolate lovers worldwide?
Ghana's Cocoa Sector Collapse: GH¢673 Million Debt Triggers PBC Asset Seizure and Farmer Crisis
Overview
In March 2026, the seizure of Producer Buying Company (PBC) assets due to massive debt triggered a halt in cocoa purchasing, leaving thousands of farmers unpaid and staff with over two years of unpaid salaries. This collapse was rooted in deep financial crises across the sector, including overwhelming debts of Licensed Buying Companies and the Ghana Cocoa Board, worsened by smuggling and governance failures. The resulting loss of trust fueled further smuggling and farmer protests, while many turned to illegal mining, causing environmental damage and threatening the entire cocoa industry. In response, the government proposed urgent reforms focused on debt clearance, price protections, financing changes, and stronger governance to restore stability and farmer confidence.