Source: Sankofaonline.com
The Ghana Cocoa Board (COCOBOD) has announced a sweeping internal austerity move as the institution confronts persistent liquidity challenges affecting the cocoa sector. In a statement issued on Monday, February 16, 2026, the Board confirmed that its Executive Management and Senior Staff have voluntarily accepted salary cuts for the remainder of the 2025/2026 crop year.
Under the new arrangement, Executive Management will forgo twenty percent of their salaries, while Senior Staff will take a ten percent reduction. The decision, according to COCOBOD, is part of a broader effort to realign operational expenditure with the organization’s current revenue realities amid global market pressures and domestic production constraints.
The cocoa industry,long regarded as the backbone of Ghana’s agricultural economy, has in recent years faced a convergence of challenges, including reduced output, rising production costs, and volatility in international commodity prices. These pressures have strained the institution’s liquidity, prompting COCOBOD to adopt a combination of internal reforms and cost‑saving measures to stabilize its financial position.
Beyond the salary cuts, the Board disclosed that it is implementing additional expenditure‑control strategies, including tighter procurement protocols and a staff rationalisation exercise. These interventions, management noted, are designed to streamline operations, eliminate inefficiencies, and safeguard the long‑term sustainability of the cocoa sector.
The announcement signals a renewed commitment by COCOBOD’s leadership to share in the sacrifices required to navigate the current economic climate. By taking voluntary pay reductions, management aims to demonstrate accountability and reinforce confidence in the institution’s recovery efforts.
The statement was issued by the Office of the Chief Executive, with COCOBOD encouraging media houses and the public to direct further inquiries to its Public Affairs Department.
