By Amoako Kwame
The Ghana Cocoa Board (COCOBOD) has revealed that salary reductions for its executive management and senior staff could save them an estimated GH₵5 million every month
COCOBOD slashed 20% of executive management and 10% for senior staff salaries which took effect immediately and will remain in place for the rest of the 2025/2026 crop year. The decision was announced in a press release dated Monday, February 16, 2026, as part of measures to address liquidity challenges within the cocoa sector.
Speaking to CitiNews on Tuesday February 17 2026 the Board’s Head of Public Affairs, Jerome Kwaku Sam said this move could help settle debts the organization incurred
“From where I sit, tentatively at least some 5 million cedis can be saved on a monthly basis. So, if you have about eight months to go, you are talking about no less than 40 million Ghana cedis, which can be used to defray some of the debt that sits on the books of COCOBOD”, he said
The salary reduction form part of broader cost-containment strategy aimed at aligning expenditure with revenue. Management has also initiated procurement reforms and a staff rationalization exercise to help stabilise the Board’s finances.
Meanwhile some labour unions are opposing this move by COCOBOD siting the bypass of certain legal protocols as reason for their opposition.
