Banks Seize PBC Trucks Over GH¢257 Million Debt

Accra — A consortium of five banks has begun seizing trucks and other assets belonging to the Produce Buying Company (PBC) as part of efforts to recover an outstanding debt of about GH¢257 million.

The action follows a court ruling that granted the banks the legal right to confiscate and auction PBC’s assets after the company defaulted on a loan facility.  

Reports indicate that several haulage trucks used for cocoa transport have already been taken from the company’s premises, with more assets likely to be affected as the recovery process continues.  

The debt stems from loans secured by PBC to finance its operations within Ghana’s cocoa sector. However, persistent financial challenges, including liquidity constraints and declining market share, have left the company unable to meet its repayment obligations.  

Industry observers warn that the situation could have serious implications for cocoa farmers, as PBC has traditionally played a key role in purchasing cocoa beans across the country. Delays in payments to farmers and reduced operational capacity could further disrupt the cocoa value chain.

The development also raises concerns about the broader health of Ghana’s cocoa sector, with calls growing for government intervention to stabilise the company and protect farmers’ livelihoods.