COCOBOD Slashes Executive and Senior Staff Salaries Amid Cocoa Revenue Crunch
COCOBOD implements immediate salary cuts for executives and senior staff, alongside cost-containment measures
- Salary reductions implemented immediately
- The Board is also introducing procurement reforms and a staff rationalisation exercise to align spending with revenue
- The move comes amid rising operational costs, financing burdens, concerns over farmer welfare
The Executive Management and Senior Staff of the Ghana Cocoa Board (COCOBOD) have announced salary reductions in response to ongoing liquidity pressures affecting the cocoa industry.
In a press release dated Monday, February 16, 2026, COCOBOD stated that the cuts take immediate effect and will remain in place for the remainder of the 2025/2026 crop year. Executive Management will see a 20% reduction in salaries, while Senior Staff will take a 10% cut.
Cost-containment and financial stabilization
The move is part of broader cost-containment measures designed to align expenditure with revenue. COCOBOD management also indicated that additional steps including procurement reforms and a staff rationalisation exercise are underway to stabilise the Board’s finances.
The announcement comes amid heightened strain in the cocoa sector, with rising operational costs, financing pressures, concerns over farmer welfare, and intensified public scrutiny over cocoa pricing and COCOBOD’s financial management.
In recent weeks, debates have intensified nationally regarding producer prices and the sustainability of cocoa farming. Industry observers have highlighted the heavy 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 implements broader restructuring measures during the crop season.
The statement, however, did not specify the size of the liquidity gap or the expected savings from the pay cuts.
