Ghana Cocoa Board Executives Take Pay Cuts Amid Industry Liquidity Crisis

The executive management of Ghana Cocoa Board has implemented a 20 percent salary reduction effective Monday, February 16, 2026, while senior staff members have accepted 10 percent pay cuts, according to an official press release issued by the state agency.

The salary reductions will remain in place for the remainder of the 2025/26 crop year and represent a direct response to what COCOBOD describes as "current liquidity challenges in the cocoa industry."

The voluntary pay cuts affect the highest levels of management at the board, which oversees Ghana's position as one of the world's leading cocoa producers. Executive management personnel will see their compensation reduced by one-fifth, while senior staff members throughout the organization will experience a 10 percent decrease in their respective salaries.

COCOBOD indicated that the salary reductions form part of a comprehensive cost-management strategy designed to stabilize the organization's financial position during challenging market conditions. The board is simultaneously implementing additional measures including procurement adjustments and staff rationalization exercises.

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According to the official statement, these combined initiatives are "aimed at reducing the overall expenditure of COCOBOD and aligning cost with revenue." The announcement suggests the board is taking proactive steps to address budget pressures affecting the cocoa sector without specifying the underlying causes of the liquidity constraints.

The timing of the announcement, effective immediately at the start of the working week, indicates the urgency with which COCOBOD leadership is addressing financial sustainability concerns. The measures will remain in effect through the conclusion of the current crop year, which typically runs through September.

The Ghana Cocoa Board serves as the regulatory and marketing authority for the country's cocoa industry, playing a central role in supporting farmers, maintaining quality standards, and managing cocoa exports that constitute a significant portion of Ghana's foreign exchange earnings.