Senior executives at the Ghana Cocoa Board (COCOBOD) have taken salary reductions in response to ongoing financial pressures in the cocoa sector.
In a press release dated 16 February 2026, COCOBOD announced that its executive management and senior staff have agreed to reduce their salaries for the remainder of the 2025/26 crop year.
According to the statement, executive management will take a 20% pay cut, while senior staff will accept a 10% reduction in their respective salaries. The decision took effect on Monday.
The move, the board said, is in recognition of current liquidity challenges facing the cocoa industry. It added that the salary cuts form part of broader cost-cutting measures aimed at reducing overall expenditure and aligning spending with revenue.
COCOBOD also indicated that additional steps include procurement reforms and a staff rationalisation exercise as part of efforts to stabilise its finances.
The Ghana Cocoa Board plays a central role in regulating, purchasing and exporting cocoa, one of the country’s key foreign exchange earners.
Source :www.kumasimail.com
