COCOBOD slashes salaries, tightens spending amid revenue strain
The Executive Management and Senior Staff of the Ghana Cocoa Board (COCOBOD) have announced salary reductions in response to ongoing liquidity challenges within the cocoa sector.
In a press release dated Monday, February 16, 2026, COCOBOD announced that the pay cuts take immediate effect and will remain in place for the remainder of the 2025/2026 crop year.
Executive Management will take a 20 percent reduction in salaries, while Senior Staff have accepted a 10 percent cut.
The move forms part of broader cost-containment measures aimed at aligning expenditure with revenue.
Management indicated that additional steps, including procurement reforms and a staff rationalisation exercise, are being implemented to stabilise the Board’s finances.
The announcement comes at a time of heightened strain in the cocoa industry, marked by rising operational costs, financing pressures, concerns over farmer welfare, and intensified public scrutiny over cocoa pricing and COCOBOD’s financial position.
In recent weeks, the sector has been at the centre of national debate, particularly over producer prices and the sustainability of cocoa farming.
Industry observers have also pointed to the heavy financing burden associated with cocoa purchases, operational commitments, and exposure to global price volatility.
COCOBOD’s leadership has framed the salary reductions as a demonstration of shared sacrifice as the institution undertakes broader restructuring efforts during the crop season.
However, the statement did not disclose the size of the liquidity gap or the projected savings from the pay cuts.
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