On Monday, February 16, 2026, a decisive announcement echoed through the corridors of the Ghana Cocoa Board (COCOBOD) headquarters. In a bold response to persistent liquidity challenges in the cocoa sector, the executive management and senior staff declared immediate salary cuts that would span the remainder of the 2025/26 crop year.
According to a formal statement signed by Dr Randy Abbey, Chief Executive of COCOBOD, executive management would take a 20% reduction in their pay, while senior staff would see their salaries trimmed by 10%. The move, Dr. Abbey explained, was part of a comprehensive set of cost-saving measures designed to steer the organisation through current financial headwinds.
These salary cuts are just one aspect of a wider strategy. COCOBOD is also tightening its belt in procurement and initiating a staff rationalisation exercise—each step aimed at slashing overall expenditure and ensuring that costs are better aligned with fluctuating revenues.
Behind these tough choices lies a singular goal: safeguarding the sustainability of Ghana’s cocoa industry. COCOBOD’s leadership underscored the importance of maintaining operational efficiency and protecting the livelihoods of cocoa farmers, even as economic pressures mount.
As the new measures take effect, the message from the top is clear—shared sacrifice and prudent management are essential for navigating the sector’s challenges and securing a stable future for Ghana’s cocoa industry.
Source: Apexnewsgh.com