COCOBOD reduces salaries of executives and senior staff as industry faces financial strain

Nii Ayitey Brown 08:33 - 17 February 2026

COCOBOD has announced salary cuts for its Executive Management and Senior Staff, with executives taking a 20% reduction and senior staff accepting a 10% cut for the 2025/26 crop year. The move comes amid ongoing liquidity challenges in Ghana’s cocoa sector and broader cost-cutting measures.

The Ghana Cocoa Board (COCOBOD) has announced salary reductions for its Executive Management and Senior Staff as part of efforts to manage ongoing financial pressures in the cocoa sector.

In a press release dated February 16, 2026, COCOBOD stated that the decision takes immediate effect and will cover the remainder of the 2025/2026 crop year.

According to the statement, Executive Management will take a 20 percent salary cut, while Senior Staff members have agreed to a 10 percent reduction in their salaries.

The Board explained that the move is in recognition of the current liquidity challenges in the cocoa industry and forms part of broader cost-cutting measures aimed at stabilising operations.

“The Executive Management and the Senior Staff of COCOBOD have effective today, Monday, February 16, 2026 reduced their salaries for the remainder of the 2025/26 crop year in recognition of the current liquidity challenges in the cocoa industry,” the statement said.

COCOBOD added that the salary reductions are not the only measures being implemented. Management is also pursuing cost-cutting in procurement and undertaking a staff rationalisation exercise to reduce overall expenditure and better align costs with revenue.

The cocoa sector, which remains one of Ghana’s key foreign exchange earners, has in recent seasons faced financial and operational pressures, prompting reforms and internal adjustments within the Board.

The statement was issued by the Chief Executive of COCOBOD, who indicated that the measures are part of efforts to ensure the sustainability of the institution during this challenging period.

In recent weeks, the government has acknowledged that delays in funding and revenue pressures have placed stress on COCOBOD’s operations.

The Board’s CEO, Dr. Randy Abbey, has said the institution is working closely with the Ministry of Finance to resolve outstanding payment issues and explore new funding models to strengthen cocoa financing.