COCOBOD executives, senior staff accept pay cuts amid liquidity challenges
17th February 2026
The Ghana Cocoa Board (COCOBOD) has announced salary reductions for its executive management and senior staff as part of efforts to address persistent liquidity challenges in the cocoa sector.
In a statement issued by the Chief Executive, Randy Abbey, the Board said the pay cuts will take effect from Monday, February 16, 2026, and remain in place for the rest of the 2025/26 crop year.
Under the new measures, members of the Executive Management will take a 20 per cent reduction in salary, while senior staff will face a 10 per cent cut.
The decision forms part of a wider cost-containment strategy aimed at reducing overall expenditure and bringing spending in line with revenue. Other measures outlined include tighter procurement controls and a staff rationalisation exercise.
COCOBOD said the steps are intended to safeguard the long-term sustainability of the cocoa industry amid current financial pressures, while ensuring continued operational efficiency and protecting the livelihoods of cocoa farmers.