The Ghana Cocoa Board’s (COCOBOD) senior staff and executive management have announced pay cuts in response to the cocoa industry’s persistent liquidity issues.
The salary reduction are effective immediately and will be in place for the rest of the 2025–2026 crop year, COCOBOD said in a press release on Monday, February 16, 2026.
While senior staff have agreed to a 10% pay cut, executive management will accept a 20% drop.
The action is a component of more comprehensive cost-containment strategies meant to balance spending and income.
According to management, further measures are being taken to stabilise the Board’s finances, such as staff rationalisation and procurement changes.
The announcement is made during a period of increased stress in the cocoa sector, which is characterised by increased operational expenses, financial strains, worries about farmer welfare, and heightened public scrutiny of COCOBOD’s financial situation and cocoa prices.
The industry has been in the forefront of national discussion in recent weeks, especially in relation to producer prices and the sustainability of cocoa cultivation.
Additionally, industry watchers have highlighted the significant financial strain brought on by cocoa imports, operational obligations, and sensitivity to fluctuations in world prices.
The leadership of COCOBOD has presented the pay cuts as an example of collective sacrifice as the organization carries out more extensive restructuring initiatives throughout the growing season.
The magnitude of the cash deficit and the anticipated savings from the wage reductions, however, were not disclosed in the announcement.
Full Statement Below:
Source: newsthemegh.com