The Ghana Cocoa Board (COCOBOD) has disbursed coupon payments totaling GH¢2 billion to investors holding restructured cocoa bills.
According to Joy Business, the payments were made on Monday, September 1, 2025, as part of COCOBOD’s commitment to investors following the restructuring of its cocoa bills under the Domestic Debt Exchange Programme (DDEP). These restructured instruments are now classified as bonds, with commercial banks among the primary stakeholders affected.
Sources close to the matter say COCOBOD has assured investors that it will honour upcoming coupon payments totaling approximately GH¢1.9 billion, due in 2026 and 2027, along with the principal repayments, according to the agreed schedule.
The restructuring deal was supported by local banks serving as transaction advisors, playing a key role in designing the new debt structure.
In recent months, COCOBOD has intensified efforts to strengthen its financial position by clearing outstanding debts and improving balance sheet health. These measures are already yielding positive results, especially in settling arrears with some suppliers.
Market analysts suggest that the restructuring could enhance COCOBOD’s ability to secure future funding at more competitive rates, thereby improving its capacity to purchase cocoa during the next crop season and positively impacting its credit rating.
Speaking to Joy Business, COCOBOD Chief Executive Dr. Randy Abbey affirmed his commitment to restoring financial stability to the institution by the end of the administration’s first term.
Additionally, Bank of Ghana Governor Dr. Johnson Asiama disclosed that COCOBOD is expecting over $4 billion in inflows from international buyers through a new pre-financing arrangement. This inflow is expected to support cocoa purchases for the upcoming season and could help bolster Ghana’s foreign reserves and stabilize the cedi.
