COCOBOD management and senior staff take salary cuts

The move forms part of a broader set of cost-cutting initiatives

In a bid to address ongoing liquidity challenges in the cocoa sector, the executive management and senior staff of the Ghana Cocoa Board (COCOBOD) have announced salary reductions effective Monday, February 16, 2026, for the remainder of the 2025/26 crop year.

According to an official statement issued by the Chief Executive of COCOBOD, Dr Randy Abbey, the Executive Management will take a 20% pay cut, while the senior staff will see a 10% reduction in their salaries.

The move forms part of a broader set of cost-cutting initiatives, including measures in procurement and a staff rationalisation exercise, aimed at reducing the organisation’s overall expenditure and aligning costs with revenue.

COCOBOD emphasised that these steps are necessary to ensure the sustainability of the cocoa industry in the face of current financial pressures, while maintaining operational efficiency and supporting the livelihoods of cocoa farmers.