The Ghana Cocoa Board (COCOBOD) has denied claims that it has channelled GH¢12 million into sponsoring the national football team, insisting that no funds intended for cocoa farmers have been diverted for sporting activities.
In a public notice, COCOBOD sought to quash mounting speculation that it had provided a sponsorship package to the Black Stars at a time when the cocoa sector is grappling with financial strain. The Board described the allegation that funds earmarked for cocoa farmers were redirected to support the national team as “false, misleading, and without any factual basis.”
The statement categorically rejected suggestions that any financial support had been extended to the senior national side. “At no point has COCOBOD diverted funds meant for farmer payments to support the Black Stars,” the notice emphasised.
COCOBOD reiterated that its core mandate remains firmly centred on the welfare of cocoa farmers, stressing its commitment to prompt payments for cocoa purchases, provision of farm inputs, extension services and sustained investment in the industry.
The Board urged the public to disregard the circulating claims and rely solely on its official communication platforms for verified information, a move widely seen as an attempt to reassure farmers and stakeholders amid heightened scrutiny of public spending.
The clarification comes at a delicate moment for the cocoa regulator. Only days earlier, COCOBOD’s Executive Management and Senior Staff announced voluntary salary reductions in response to what they described as “current liquidity challenges” facing the industry. In a statement dated Monday, 16 February 2026, management confirmed that executives would take a 20 per cent pay cut while Senior Staff would accept a 10 per cent reduction for the remainder 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… in recognition of the current liquidity challenges in the cocoa industry,” the statement read.
The Board said the move formed part of broader austerity measures. “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,” it explained.
The salary cuts and cost-containment efforts followed a controversial reduction in the producer price of cocoa for the remainder of the 2025/2026 season. The government recently revised the price downward to GH¢41,392 per tonne and GH¢2,587 per 64-kilogramme bag, citing falling global market prices and liquidity pressures.
Announcing the adjustment in Accra, Finance Minister Dr Cassiel Ato Forson said the move was necessary to reflect prevailing international price realities while cushioning farmers as much as possible. He noted that the season had begun in August 2025 with a producer price of GH¢51,660 per tonne, based on 70 per cent of a gross free-on-board price of 7,200 US dollars per tonne and an exchange rate of 10.25 cedis to the dollar.
The revised rate represents a reduction of GH¢16,608 per tonne and GH¢1,038 per bag from the October 2025 rate of GH¢58,000 per tonne and GH¢3,625 per bag.
Against this backdrop of salary sacrifices, cost rationalisation and falling producer prices, allegations of a multimillion-cedi football sponsorship risked inflaming tensions within farming communities already under pressure.
Source:
www.graphic.com.gh