COCOBOD Leadership Slashed off a percentage of it’s staffs salary Amid Cocoa Price reduction

The Ghana Cocoa Board has announced a significant salary reduction for its top leadership as the cocoa sector faces mounting financial pressure. In a press release dated February 16, 2026, the Board confirmed that its Executive Management and Senior Staff have voluntarily accepted pay cuts for the remainder of the 2025/2026 crop year.

According to the statement, the Executive Management will take a 20 percent reduction in salary, while Senior Staff members will accept a 10 percent cut. The decision took effect immediately and is part of broader measures to manage current liquidity challenges within the cocoa industry.

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The cocoa sector remains a critical pillar of Ghana’s economy, supporting millions of farmers and contributing substantially to foreign exchange earnings. However, like many commodity-driven industries, it is vulnerable to fluctuations in global prices, production costs, and financing constraints. Recent financial pressures have required strategic adjustments to ensure sustainability and operational stability.

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Management indicated that the salary cuts form part of a wider cost-control strategy. In addition to reducing executive compensation, the Board is implementing procurement reforms and undertaking a staff rationalisation exercise. These steps are aimed at lowering overall expenditure while aligning operational costs more closely with revenue performance.

By starting with leadership compensation, the Board appears to be signalling shared responsibility during a difficult period. Such a move may help reinforce confidence among stakeholders, including farmers, employees, financial partners, and the general public. It demonstrates an effort by management to absorb part of the financial strain rather than passing the burden entirely down the chain.

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Industry observers note that liquidity constraints in commodity sectors often stem from delayed payments, rising input costs, and tighter global credit conditions. For a sector as central as cocoa, maintaining financial discipline is essential to protect long-term growth and farmer livelihoods. Cost containment at the administrative level may provide temporary relief while broader structural and market solutions are pursued.

The statement was issued by the Chief Executive on behalf of the Ghana Cocoa Board, with the Public Affairs Department providing contact details for further inquiries. The Board emphasized that the measures are designed to stabilise operations and position the organisation to navigate the remainder of the crop season responsibly.

As the cocoa industry works through current headwinds, leadership’s willingness to take pay cuts reflects a proactive approach to financial management and institutional accountability.