The Produce Buying Company (PBC) has secured a financing facility backed by GH₵30 million of credited cocoa stock to pay farmers promptly, addressing severe liquidity challenges and delayed payments within Ghana’s cocoa sector.
Speaking at the Memorandum of Understanding signing between the PBC and the Ghana National Cocoa Farmers Association (GNACOFA), Thomas Ayisi, Deputy Managing Director in charge of Finance, stated the intervention aims to restore confidence and reposition the company following years of financial difficulty.
“PBC has secured a facility for paying credited stocks from farmers. In doing so, we distinguish ourselves from competitors who still owe. This act restores credibility and rebuilds trust at the grassroots which is the very foundation of our sector.”
“This GNACOFA-backed facility, which was supported by 30 million cedis credited stocks, is proof that PBC is not merely surviving but actively restructuring”, he said.Mr Ayisi noted the arrangement will boost operational capacity, ensure timely payments during the purchasing season, and strengthen relationships with farmers to enhance sector sustainability.
Stephenson Anane Boateng, National President of GNACOFA, added that the partnership will help combat major sector challenges, including smuggling and illegal mining.
“This partnership with PBC presents an opportunity to establish stronger systems and structures that will directly support cocoa farmers and improve their welfare.
GNACOFA also accused Ghana Cocoa Board (COCOBOD) officials of engaging in private cocoa buying, alleging the practice undermines trust, worsens financial pressures for farmers, and risks destabilising pricing structures.
By: Rainbowradioonline.com/Ghana
