In Ghana, the cocoa crisis is worsening as many producers claim they haven't been paid for months. The state-owned company responsible for buying cocoa from farmers is now facing massive debt and the risk of asset seizure, according to a source close to the matter.
The Producer Buying Company, the state-run buyer of last resort in the cocoa sector, has reportedly accumulated approximately 673 million cedis in debt, or nearly $60 million. This situation is now preventing the company from purchasing farmers' produce in several regions of the country.
According to the same source, some banks have obtained a court order allowing them to seize the company's assets in order to recover the sums owed. This threat exacerbates the difficulties faced by a company considered essential to the functioning of Ghana's cocoa sector.
The Ghanaian government had promised in February to fully restore the central role of the Producer Buying Company in the cocoa sector, a major pillar of the national economy. But on the ground, many farmers say they are facing a critical financial situation.
Some producers say they can no longer pay their children's school fees or cover their daily food needs. In several rural areas, farmers explain that they are forced to reduce their meals as payment delays have been ongoing since November.
Ghana is among the world's largest producers of cocoa, a vital resource for international chocolate markets. The current crisis therefore raises concerns not only for the country's economy but also for the stability of the entire global supply chain.
This situation also highlights the growing financial fragilities of the Ghanaian public sector, in a context where the authorities are seeking to stabilize the national economy while supporting a strategic agricultural industry.
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