The Ghana Cocoa Board has announced salary reductions for its Executive Management and Senior Staff as part of cost-cutting measures to address ongoing liquidity challenges in the cocoa industry.
In a statement issued on Monday, February 16, 2026 signed by the Chief Executive Dr. Randy A. Abbey, COCOBOD said members of its Executive Management have taken a 20 percent salary cut, while Senior Staff have accepted a 10 percent reduction for the remainder of the 2025/26 cocoa crop year. The decision takes immediate effect.
According to the Board, the salary cuts form part of broader efforts to reduce overall expenditure and better align operational costs with revenue. Additional measures include tighter controls on procurement and an ongoing staff rationalisation exercise aimed at improving financial efficiency.
The move comes at a time of heightened pressure within the cocoa sector, driven by rising operational costs, financing constraints, and growing concerns over farmer welfare. COCOBOD’s financial position has also come under increased public scrutiny amid debates over cocoa pricing and long-term sustainability of the industry.
The announcement follows recent criticism from industry observers who argue that years of management challenges have contributed to the current difficulties facing the sector, with cocoa farmers bearing much of the impact. These concerns intensified after producer prices were reduced by 28.6 percent to GH¢2,587 per bag, effective Thursday, February 12.
The price reduction is estimated to affect more than one million cocoa farmers across Ghana’s cocoa-growing regions, according to parliamentary estimates, further deepening concerns about livelihoods within the sector as COCOBOD undertakes reforms to stabilise its finances.