Producer Buying Company (PBC), Ghana’s state-owned cocoa buying company, is reportedly struggling to purchase cocoa from farmers due to debts amounting to about GH¢673 million, according to a Reuters report.
Sources familiar with the matter say the company also risks losing some of its assets as creditors move to recover outstanding debts. Under Ghanaian law, PBC serves as a buyer of last resort for cocoa farmers.
However, the company is said to be facing severe financial challenges despite government assurances earlier this year to revive its operations.
Debt Burden and Farmer Payments
According to Reuters, PBC owes cocoa farmers about GH¢24 million for more than 9,000 bags of cocoa already supplied. The company reportedly lacks the funds needed to clear the arrears or continue purchasing cocoa from farmers across the country.
Many cocoa farmers are also said to be waiting for payments for cocoa delivered since November 2025.
Banks Move to Recover Funds
Reports indicate that a group of banks owed about GH¢257 million secured a court order in March 2026 to sell some of the company’s assets to recover their money. The development has increased pressure on the cocoa buyer, which once controlled nearly 30% of Ghana’s local cocoa market but now reportedly accounts for less than 5%.
Challenges in the Cocoa Sector
Ghana’s cocoa sector has faced mounting difficulties in recent months due to global oversupply, declining cocoa prices, and reduced demand from chocolate manufacturers.
The source further claimed that the Ghana Cocoa Board (COCOBOD) has not reimbursed PBC for about 800 metric tons of cocoa delivered more than two months ago. Reuters also reported that both the Ministry of Finance and COCOBOD declined to comment on the matter.
Calls for Government Intervention
Although Finance Minister Cassiel Ato Forson previously indicated that reviving PBC formed part of government’s plans to support cocoa farmers, sources claim no major intervention has taken place.
The company is also reportedly battling unpaid salaries, supplier debts, and statutory obligations. Sources say government support could help stabilise PBC and restore its operations across Ghana’s cocoa-growing districts.