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The Ghana Cocoa Board has announced salary reductions for its executive management and senior staff as part of measures to address ongoing financial challenges within the cocoa sector.
The decision follows mounting pressure on the cocoa regulator over unpaid arrears owed to farmers, as well as public calls for management to share in the financial burden after the reduction in cocoa prices for the remainder of the 2025/2026 season.
In a statement issued on Monday, February 16, 2026, COCOBOD said the pay cuts are a direct response to liquidity constraints affecting the industry.
Management to take 20% cut, senior staff 10%
According to the statement, members of executive management, including Chief Executive Officer Dr Randy Abbey, will take a 20 per cent reduction in their salaries, while senior staff will accept a 10 per cent cut for the rest of the 2025/26 crop year.
“The Executive Management and the Senior Staff of COCOBOD have, effective today, Monday, February 16, 2026, reduced their salaries for the remainder of the 2025/26 crop year in recognition of the current liquidity challenges in the cocoa industry,” the statement said.
It added:
“The Executive Management has taken a twenty (20) per cent cut, while the Senior Staff have taken a ten (10) per cent reduction in their respective salaries.”
Cost-cutting measures extended beyond salaries
COCOBOD explained that the salary reductions form part of broader cost-control measures aimed at stabilising its finances.
The statement noted that additional steps, including procurement cost reductions and a staff rationalisation exercise, are being implemented to curb expenditure and better align operational costs with revenue levels.
“This decision and other cost-cutting measures in procurement and a staff rationalisation exercise are aimed at reducing the overall expenditure of COCOBOD and aligning cost with revenue,” the statement concluded.
The move comes at a time when the cocoa sector is facing declining prices, mounting debts, and concerns over timely payments to farmers ahead of the close of the current crop season.
Read the statement below:
