The Executive Management and Senior Staff of the Ghana Cocoa Board (COCOBOD) have announced reductions in their salaries in response to the ongoing liquidity challenges facing the cocoa industry.
The reduction takes immediate effect, per a press release dated Monday, February 16, 2026. According to the release, the salary cuts will remain in place for the rest of the 2025/2026 crop year.
Executive Management will take a 20 percent reduction in salaries, while Senior Staff have accepted a 10 percent cut.
The decision is to align with the Board’s cost-containment measures aimed at balancing expenditure with revenue.
Also, a staff rationalisation exercise, as well as procurement reforms, according to management, are additional steps that would be implemented to stabilise the Board’s finances.
The initiative comes at a time of heightened strain in the cocoa industry, marked by rising operational costs, financing pressures, concerns over farmer welfare, and intensified public scrutiny over cocoa pricing and COCOBOD’s financial position.
The recent world price for cocoa has generated national debate over the past weeks, with many calling for the head of the COCOBOD, Dr. Ransford Annetey Abbey. But the government has blamed the previous administration for mismanaging the sector, leading to the financial burden which the Board has to bear now.
Meanwhile, industry observers have also pointed to the heavy financing burden associated with cocoa purchases, operational commitments, and the exposure to global price volatility.
COCOBOD’s leadership has framed the salary reductions as a demonstration of shared sacrifice as the institution undertakes broader restructuring efforts during the crop season.
However, the statement did not disclose the size of the liquidity gap or the projected savings from the pay cuts.
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