The Chief Executive of the Ghana Cocoa Board (COCOBOD), Dr Randy Abbey, the Executive Management and Senior Staff have announced a reduction in their salaries, effective Monday, February 16, 2026, citing “current liquidity challenges” confronting the cocoa industry.
In a press release issued on Monday, February 16, 2026, COCOBOD disclosed that members of its Executive Management have agreed to take a 20 percent cut in their salaries, while Senior Staff will endure a 10 per cent reduction for the remainder of the 2025/26 cocoa crop year.
“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 statement said.
It explained that the decision forms part of broader cost-control measures being rolled out to stabilise the institution’s finances.
“The Executive Management has taken a twenty (20) percent cut, while the Senior Staff have taken a ten (10) percent reduction in their respective salaries,” the release noted.
According to COCOBOD, the salary cuts are not isolated actions but are being implemented alongside other expenditure-reduction initiatives.
“This decision, together with other cost-cutting measures in procurement and a staff rationalisation exercise, is aimed at reducing the overall expenditure of COCOBOD and aligning cost with revenue,” the statement emphasised.
The move comes amid growing financial pressures within the cocoa sector, which has been grappling with liquidity constraints affecting operations across the value chain.
By: Ekow Annan/newsalertgh.com
