The move forms part of a broader set of cost-cutting initiatives
The Ghana Cocoa Board (COCOBOD) has announced salary cuts for its executive management and senior staff.
The move comes amid COCOBOD’s failure to pay arrears owed to farmers and calls for it to reduce the salaries of its management and staff following the reduction in the price of cocoa for the remaining months of the 2025/2026 season.
In a statement dated February 16, 2026, COCOBOD explained that the salary reduction is a result of its current financial challenges.
It indicated that its management, including the Chief Executive Officer, Dr Randy Abbey, would take a 20 percent reduction in their salaries, while its senior staff would take a 10 percent reduction in their salaries for the remainder of the season.
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“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 Executive Management has taken a twenty (20) per centcut, while the Senior Staff have taken a ten (10) percent reduction in their respective salaries,” it said.
The statement concludes, “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.”
Read the statement below:
BAI
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Source:
www.ghanaweb.com
