COCOBOD Settles GH¢2.3 Billion DDEP Bond Obligations for 2026

The Ghana Cocoa Board (COCOBOD) has settled GH¢2,306,202,372.09 owed to bondholders whose securities were affected by the Government’s Domestic Debt Exchange Programme (DDEP).

The payment, announced by COCOBOD’s Public Affairs Department on Tuesday, September 1, 2026, completes the Board’s mandatory payment obligations to holders of DDEP-affected bonds for the 2026 financial year.

The latest settlement brings COCOBOD’s total payments to DDEP bondholders for the year to GH¢2,682,582,282.18.

According to COCOBOD, the GH¢2.306 billion payment represents the latest settlement made to investors holding securities affected by the DDEP.

The payment follows an earlier GH¢376,325,910.09 coupon payment made in March 2026.

Combined, the two payments bring the total amount paid by COCOBOD to DDEP bondholders during 2026 to:

GH¢2,682,582,282.18

COCOBOD said the payments constitute the fulfilment of its mandatory obligations to investors whose bonds were brought under the Domestic Debt Exchange Programme.

The latest DDEP settlement follows another major payment made by COCOBOD in July 2026.

In July, the Board paid GH¢162 million in full to individual holders of Cocoa Bills who did not participate in the Domestic Debt Exchange Programme.

COCOBOD explained that the GH¢162 million represented the full settlement of outstanding obligations to the affected non-DDEP Cocoa Bill holders.

These obligations had remained outstanding following the implementation of the DDEP in 2023, with the Board previously citing financial constraints as one of the factors that contributed to the delay in settling them.

Beneficiaries of the July payment were advised to contact their respective fund managers to access their funds.

With the payment completed, COCOBOD said its outstanding obligations to the affected non-DDEP Cocoa Bill holders had been fully cleared.

COCOBOD said the payments are part of its broader efforts to strengthen responsible financial management and systematically settle its outstanding financial obligations.

The Board said the settlements form part of measures aimed at improving the financial sustainability of Ghana’s cocoa sector, under the guidance of the Ministry of Finance.

The cocoa regulator has been undertaking some reforms to improve its financial position, strengthen its balance sheet and address legacy liabilities accumulated over the years.

The latest payment therefore represents another step in COCOBOD’s efforts to regularise its financial obligations and improve the management of its liabilities.

The settlement comes amid ongoing reforms within Ghana’s cocoa sector aimed at putting COCOBOD on a stronger financial footing.

In February 2026, the Board outlined wider reforms designed to improve its balance sheet and address legacy financial liabilities.

The measures form part of efforts to ensure that COCOBOD is better positioned to meet its financial commitments while continuing to support the production, financing and development of Ghana’s cocoa industry.

The completion of the 2026 DDEP payments also provides an important milestone in the Board’s efforts to clear outstanding obligations to investors.

Full breakdown of COCOBOD’s 2026 payments

COCOBOD’s payments relating to its outstanding obligations in 2026 are as follows:

March 2026:
GH¢376,325,910.09 paid as a coupon to DDEP bondholders.

July 2026:
GH¢162 million paid in full to individual holders of non-DDEP Cocoa Bills.

September 2026:
GH¢2,306,202,372.09 paid to holders of DDEP-affected bonds.

Total paid to DDEP bondholders in 2026:
GH¢2,682,582,282.18

Total non-DDEP Cocoa Bill obligations settled:
GH¢162 million

COCOBOD said the completion of these payments underscores its continued commitment to meeting legitimate financial obligations to investors while supporting the long-term sustainability of Ghana’s cocoa industry.

The Board further indicated that the settlements form part of its ongoing efforts to strengthen financial discipline, address legacy obligations and contribute to restoring confidence in the financial management of the cocoa sector.

The statement was issued by the Public Affairs Department, Ghana Cocoa Board (COCOBOD)