COCOBOD slashes management salaries by up to 20%
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Ghana Cocoa Board (COCOBOD) has announced salary reductions for its executive management and senior staff as part of measures to address ongoing liquidity constraints within the cocoa industry.
In a press release dated February 16, 2026, the Board disclosed that the salary cuts take immediate effect and will remain in place for the remainder of the 2025/2026 crop year.
According to the statement, executive management has taken a 20 per cent reduction in salaries, while senior staff have agreed to a 10 per cent pay cut.
The decision, COCOBOD explained, is in recognition of the prevailing financial pressures confronting the cocoa sector.
The Board indicated that the salary reductions form part of broader cost-containment interventions aimed at stabilising the institution’s finances.
These measures include procurement-related savings and a staff rationalisation exercise designed to streamline operations.
COCOBOD emphasised that the overarching objective is to reduce overall expenditure and align operational costs with revenue inflows, amid liquidity challenges affecting the industry.
The cocoa sector remains a critical pillar of Ghana’s economy, contributing significantly to export earnings and supporting the livelihoods of hundreds of thousands of farmers nationwide.
Read the full statement below:
ABOUT: Nana Kwesi Coomson
[email protected] An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.
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