The Ghana Cocoa Board (COCOBOD) has paid GH¢162 million to clear debts owed to Cocoa Bill holders who opted out of the 2023 debt restructuring program.
The government’s Domestic Debt Exchange Programme (DDEP) required bondholders to swap their existing instruments for new ones carrying lower interest rates and longer maturities. Most institutional investors and banks went along with the exchange, but a number of individual Cocoa Bill holders chose to keep their original instruments instead. COCOBOD said those holders’ payments were then delayed because of the Board’s own financial constraints in the aftermath of the restructuring.
The GH¢162 million payment now settles those obligations in full, according to a statement from COCOBOD’s Public Affairs Department. The Board is advising affected investors to contact their fund managers to collect what they’re owed.
“The Board has now fully settled these obligations,” the statement said, framing the payment as part of a broader effort to rebuild trust with investors and stabilize COCOBOD’s finances. The Board also thanked affected holders for their patience through the delay.
The settlement lands as COCOBOD continues working to shore up its financial standing following Ghana’s 2023 debt restructuring, a process that hit both public and private holders of government linked securities across the country.
