About COCOMAG
The institutional authority for Ghana's cocoa marketers
The Chamber of Cocoa Marketers – Ghana is the institutional authority representing Licensed Buying Companies and allied cocoa value-chain actors nationwide.
Who We Are
A single governance framework for the cocoa trade
The Chamber of Cocoa Marketers – Ghana is the primary institutional authority representing Licensed Buying Companies (LBCs) and allied value chain actors nationwide. Formerly the Licensed Cocoa Buyers Association of Ghana (LICOBAG), the Chamber connects smallholder farming communities, financial institutions, regulators, and global partners within a single governance framework.
Our members drive internal cocoa purchasing, uphold premium quality standards, and secure supply chain sustainability across Ghana.
Incorporated as a Company Limited by Guarantee, the Chamber drives the modern cocoa economy forward through proactive governance and policy leadership. We govern buying practices, enforce ethical standards, and advocate for market stability meeting the demands of shifting trade finance structures, ESG compliance, and digital traceability head-on.
Our Mission
We represent and advance licensed cocoa buyers and allied cocoa and chocolate agencies through policy advocacy, enforceable operational standards, sustainable trade financing, and global strategic partnerships strengthening the Ghanaian cocoa value chain at every level.
Our Vision
To be the authoritative voice of Ghana's cocoa marketers driving a resilient, transparent, and globally competitive cocoa buying industry that balances farmer welfare with buyer sustainability.
Our Story
A New Institution for a New Era
Ghana's cocoa sector is entering a defining transition. We are becoming the Chamber of Cocoa Marketers, a formally registered Company Limited by Guarantee and the next evolution of institutional representation for licensed cocoa buyers nationwide.
This is a structural repositioning: from voluntary association to a standards-driven institution equipped to shape policy, enforce compliance, and safeguard Ghana's cocoa value chain.
Why the Chamber Matters
Why Now
The operating environment for Licensed Buying Companies has changed fundamentally:
- 01
Working-capital constraints, payment arrears, and pricing uncertainty have intensified.
- 02
Cross-border smuggling and price arbitrage continue to erode volumes.
- 03
International traders with stronger balance sheets are gaining share at the expense of smaller, indigenous buyers.
In 2024, COCOBOD suspended the syndicated pre-export loan model that had financed cocoa purchases for over three decades, the first suspension in 32 years. The 2025/26 season has proceeded without it, with no indication of near-term revival. LBCs now bear full upfront working-capital risk, financed through equity, bank credit, or trader partnerships. Smaller firms face acute exposure to market exclusion.
These are structural shifts, not temporary setbacks. A voluntary association model no longer carries the institutional authority, enforcement capacity, or policy influence required.
Our Foundation
From LICOBAG to COCOMAG
This transition builds on established institutional groundwork. Following liberalization of Ghana's internal cocoa purchasing system, LICOBAG was established on 23 November 2010 as the collective voice of COCOBOD authorized LBCs.
It grew to represent approximately 60 licensed buying companies, indigenous firms and multinationals and became the backbone of Ghana's internal cocoa marketing system: coordinating farmer market access, enforcing quality standards, and representing buyers in national policy dialogue, including the Producer Price Review Committee.
That governance experience, sector relationships, and operational credibility make this next step possible.
23 November 2010
LICOBAG established
Formed as the collective voice of COCOBOD authorized Licensed Buying Companies following liberalization of Ghana's internal cocoa purchasing system.
Growth
The backbone of internal marketing
Grew to represent approximately 60 licensed buying companies indigenous firms and multinationals — coordinating farmer market access, enforcing quality standards, and representing buyers in national policy dialogue, including the Producer Price Review Committee.
2024
Syndicated financing suspended
COCOBOD suspended the syndicated pre-export loan model that had financed cocoa purchases for over three decades,the first suspension in 32 years.
2025/26 season
A season without the facility
The season proceeded without the syndicated loan, with no indication of near-term revival. LBCs now bear full upfront working capital risk.
Today
The Chamber of Cocoa Marketers – Ghana
A formally registered Company Limited by Guarantee, the next evolution of institutional representation for licensed cocoa buyers nationwide.
What the Chamber Delivers
What the Chamber Delivers
Six commitments that distinguish a chartered institution from a voluntary association.
Institutional standing
Recognised voice of licensed cocoa buyers with COCOBOD, government, and financiers.
Policy influence
Rules-based pricing, financing reform, collective liquidity solutions.
Accountability
Binding codes of conduct, compliance monitoring, sanctions.
Global alignment
Coordinated compliance on traceability, sustainability, ethical sourcing.
Institutional capacity
Diversified revenue and infrastructure beyond membership dues.
Farmer trust
Enforceable payment standards and dispute-resolution mechanisms.
Our Position
The status quo is not viable at this scale of disruption. The transition to a Chamber of Cocoa Marketers is a strategic necessity positioning the institution to enforce discipline, shape policy, and secure Ghana's standing in global cocoa markets.
Engage the Chamber
Represent your organisation within Ghana's cocoa institution
Membership is open across the cocoa value chain — from licensed buyers and processors to the financial and development partners that support them.