In the wake of the challenges bedeviling the cocoa sector, Ghana Cocoa Board staff have announced pay cuts. The reduction affects its executive management and senior staff as part of measures to address ongoing liquidity constraints within the cocoa industry.
In a press release dated February 16, 2026, signed by Chief Executive Officer, Dr Randy Abbey, the Board disclosed that the salary cuts take immediate effect and will remain in place for the remainder of the 2025/2026 crop year.
According to the statement, executive management has taken a 20 per cent reduction in salaries, while senior staff have agreed to a 10 per cent pay cut. The decision, COCOBOD explained, is in recognition of the prevailing financial pressures confronting the cocoa sector, occasioned by international price reduction.
“The Executive Management and 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) percent cut, while the Senior Staff have taken a ten (ten) percent reduction in their respective salaries”, the release signed by Dr Abbey said.
The Board indicated that the salary reductions form part of broader cost-containment interventions aimed at stabilising the institution’s finances. These measures include procurement-related savings and a staff rationalization exercise designed to streamline operations.
COCOBOD emphasised that the overarching objective is to reduce overall expenditure and align operational costs with revenue inflows, amid liquidity challenges affecting the industry. The cocoa sector remains a critical pillar of Ghana’s economy, contributing significantly to export earnings and supporting the livelihoods of hundreds of thousands of farmers nationwide.
The cut forms part of measures outlined by the Finance Minister Dr Ato Forson following an emergency Cabinet session last Wednesday, after delay in payment of cocoa purchased as far back as November 2025.
Following last Thursday’s announcement by the Minister that, cocoa farmers who were owned were going to be paid with immediate effect, he also indicated that a price of a bag of cocoa has been slashed to GHc2, 587 from the previous GHc3, 625.
The move was to correspond with the world price but the farmers requested a cut in the pay of the workers of COCOBOD.The farmers argued that even though the reduction was painful they have accepted in order to sustain the sector. Nana Aduana II, spokesperson, Ghana National Association of Cocoa Farmers described the cut as “really painful”. According to him, he was concerned why the cut affected only farmers.
He said action should have affected the value chain saying staff of COCOBOD, License Buying Companies and all the others should been affected so that there is fairness.
Speaking on Joynews channel, a day after the announcement by the Minister, the medical doctor cum farmer said “First and foremost the farmer has not been paid for 4 months and then on top of that you have then hit with significant amount of over 1000.
The first thing to do is to reduce the margin of the staff by the same price margin. And if for whatever reason the COCOBOD staff they keep their salaries cut then we will then have some justification. Farmer groups have been weakened in voice for many years it’s almost like there is a very limited collective bargaining so how do we fight back?”
“It is very painful; it exposes the farmer to more risks there is already a struggle. It makes the cocoa farming less attractive; the average age of the farmer now is 64 years based on these realities. How do you replace or attract the ageing farmer with younger blood to ideally come in and rejuvenate the industry? So, these are the challenges that are presented. So, when I say oh, we are sad, but we have explained the dynamics and why we are sad”, the Chief Executive Officer of OheneCocoa said.
By Gifty Boateng