COCOBOD slashes salaries, tightens spending amid revenue strain

The Executive Management and Senior Staff of the Ghana Cocoa Board (COCOBOD) have announced salary reductions in response to ongoing liquidity challenges in the cocoa sector.

In a press release dated Monday, February 16, 2026, COCOBOD said the pay cuts take immediate effect and will remain in place for the remainder of the 2025/2026 crop year. Executive Management will take a 20 per cent salary reduction, while Senior Staff have accepted a 10 per cent cut.

The move forms part of broader cost-containment measures aimed at aligning expenditure with current revenue levels.

Management indicated that additional steps, including procurement reforms and a staff rationalisation exercise are being implemented to stabilise the Board’s finances.

The decision comes amid mounting pressure in the cocoa industry, driven by rising operational costs, financing constraints, concerns over farmer welfare and increased public scrutiny of cocoa pricing and COCOBOD’s financial position.

In recent weeks, the sector has been at the centre of national debate, particularly over producer prices and the long-term sustainability of cocoa farming.

Industry observers have also highlighted the significant financing burden associated with cocoa purchases, operational commitments and exposure to global price volatility.

COCOBOD’s leadership described the salary reductions as a demonstration of shared sacrifice as the institution embarks on broader restructuring efforts during the current crop season.

The statement, however, did not disclose the size of the liquidity gap or the projected savings expected from the salary cuts.