COCOBOD management takes pay cuts as liquidity pressures bite cocoa industry

Business February 17, 2026 admin 26 views 0 comments

The management of the Ghana Cocoa Board (COCOBOD) has announced salary reductions for its Executive Management and Senior Staff as part of measures to address liquidity challenges confronting the cocoa sector.

In a press release issued on Monday, February 16, 2026, COCOBOD disclosed that members of its Executive Management have taken a 20 per cent cut in salaries, while Senior Staff have accepted a 10 per cent reduction. The pay cuts take immediate effect and will run through the remainder of the 2025/2026 cocoa crop year.

According to the Board, the decision is aimed at reducing overall operational expenditure and aligning costs with current revenue levels, as the cocoa industry grapples with financial pressures.

COCOBOD further indicated that the salary adjustments form part of a broader cost-cutting strategy, which includes tighter controls on procurement and a staff rationalisation exercise. These measures, the Board said, are intended to stabilise its finances and ensure the sustainability of operations amid prevailing challenges in the sector.