COCOBOD Cuts Salaries, Spending Amid Public Outcry

The Ghana Cocoa Board (Ghana Cocoa Board) has announced sweeping cost-cutting measures, including salary reductions for top officials, as it grapples with mounting liquidity challenges in the cocoa sector.

The decision follows intense public criticism over what many described as excessive spending by management at a time when cocoa farmers are facing serious financial hardship.

Critics had accused the Board of maintaining a lavish lifestyle, paying hefty salaries and acquiring new vehicles, while farmers struggled with falling producer prices. Public scrutiny heightened after the reduction in the cocoa producer price per bag from GH¢3,625 to GH¢2,587.

As a demonstration of shared sacrifice during this challenging period in the sector, the Executive Director, Randy Abbey, announced yesterday in a press statement that the Executive Management and the Senior Staff of COCOBOD have, effective Monday, February 16, 2026, reduced their salaries.

“Executive Management will take a 20 percent reduction in salaries, while Senior Staff have accepted a 10 percent cut of their salaries”, the statement.

According to the statement, the pay cuts take immediate effect and will remain in place for the remainder of the 2025/2026 crop year in recognition of the current liquidity challenges in the cocoa industry.

The Board said the decision and other cost-cutting measures in procurement and a staff rationalisation exercise are aimed at reducing the overall expenditure of COCOBOD and aligning costs with revenue.

The statement, however, did not provide details on the size of the liquidity gap or the amount of savings expected from the salary reductions.

The government recently announced reforms, including a reduction in the producer price for the remainder of the 2025/2026 crop season. The new price has been adjusted to GH¢41,392 per tonne (GH¢2,587 per bag), representing 90 per cent of the achieved gross FOB price of $4,200 per tonne.

While authorities insist the adjustment is to shield farmers from declining global prices, many farmers say the move feels like a bitter blow at a time when they expected relief, not reduction.

Many industry players have waded into the conversation, accusing the government of worsening the plight of cocoa farmers, describing the cocoa price cut as a direct insult to the intelligence, resilience, and sacrifices of cocoa farmers.