The Ghana Cocoa Board (COCOBOD) has announced salary reductions for its executive management and senior staff following the recent reduction in cocoa producer prices.
According to the Board, the pay cuts take effect from Monday, February 16, 2026, and will remain in place for the rest of the 2025/26 crop year as part of efforts to address liquidity challenges in the cocoa sector.
In a press statement dated February 16, COCOBOD indicated that executive management will take a 20% cut in salaries, while senior staff will take a 10% reduction.
“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.” COCOBOD explained.
The internal cost-cutting measures come days after the government announced a 28.6% reduction in the cocoa producer price on February 12, 2026, citing falling global market prices and sustainability concerns within the industry.
Under the revised pricing structure, the farmgate price has been reduced to GH¢41,392 per tonne (GH¢2,587 per 64kg bag), down from GH¢58,000 per tonne (GH¢3,625 per 64kg bag) set in October 2025.
This represents a total reduction of GH¢16,608 per tonne, or GH¢1,038 per bag.
Beyond salary cuts, COCOBOD have outlined additional expenditure-alignment strategies aimed at strengthening its financial position.
These include reforms in procurement processes to tighten internal purchasing and eliminate inefficiencies, as well as a staff rationalisation exercise to review staffing levels and improve operational efficiency.
The Board is also converting a reported GH¢5.8 billion in legacy debt as part of measures to strengthen its balance sheet.
Public and political pressure
The salary cut announcement follows significant public and political pressure for management-level sacrifices after the producer price reduction.
Stakeholders argued that it would be unfair for cocoa farmers to shoulder the full burden of the sector’s financial challenges while management compensation remained unchanged.
Among those who called for salary cuts were the Minority in Parliament, policy think tank IMANI Africa, and its Founding President Franklin Cudjoe, as well as the Ghana National Association of Farmers and Fishermen, among others.
