Assets belonging to PBC Limited, Ghana's state-owned cocoa buying company, have been seized under a court-backed execution process. This action took place at the end of April 2026. The seizure aims to recover GHS 290.55 million owed to a consortium of banks.
This development signifies a shift from potential asset seizure to actual execution for PBC Limited. Creditors are pursuing debt recovery through legal means. Many cocoa farmers are reportedly still awaiting payment for beans already supplied. The company's operational assets are now being taken over by creditors.
PBC Limited is a crucial institution within Ghana's cocoa marketing system. The company has historically played a vital stabilising role. Its financial distress impacts a sector central to Ghana's export earnings and rural livelihoods. This action highlights ongoing challenges within state-owned enterprises.
A High Court judgment, presided over by Justice Sheila Mintah, entered judgment in favour of the plaintiff banks on October 30, 2023. The judgment details substantial liabilities owed by PBC to creditor banks. The Agricultural Development Bank is owed GHS 50.56 million. Bank of Africa Ghana Limited is owed GHS 11.50 million. CAL Bank PLC faces a higher amount of GHS 73.70 million.
The largest exposure is to GCB Bank PLC, totaling GHS 111.36 million. Universal Merchant Bank is owed GHS 43.43 million, inclusive of interest. The court also awarded GHS 600,000 in legal costs. These figures total approximately GHS 290.55 million in judgment debt, including interest and legal costs.
Inventory documents confirm the physical attachment of PBC's assets. A handwritten inventory document dated April 30, 2026, lists items at PBC Limited's Dzorwulu facility. These include old MAN trucks, DAF trucks, pickups, forklifts, and other machinery. These assets were received by Nii Sackey of Mos Mart Limited, Accra, for custody.
Further inventories on the same date list additional seized assets. These include old Toyota Hilux vehicles, a Mercedes-Benz car, and a Fortuner car. These documents indicate that PBC's financial crisis has moved into the enforcement stage. This affects a company once considered a buyer of last resort with broad national reach. The cocoa sector remains paramount to Ghana's foreign exchange position.
The seizure of PBC's assets signals potential disruptions in the cocoa value chain. Ghana's cocoa industry is a cornerstone of the economy. Stakeholders will watch for government intervention or restructuring plans for PBC. This situation could affect cocoa farmers and the wider financial sector.