In a decisive response to mounting financial pressures, the Executive Management and Senior Staff of the Ghana Cocoa Board (COCOBOD) have voluntarily reduced their salaries effective Monday, February 16, 2026.
The Executive team will absorb a 20% reduction, while Senior Staff will take a 10% cut, as part of a broader cost-containment strategy including procurement savings and staff rationalisation.
The move reflects deep liquidity challenges in Ghana’s cocoa sector, intensified by recent government adjustments to producer pricing. Finance Minister Dr Cassiel Ato Forson announced on Thursday, February 12, 2026, a reduction of the producer price to GH¢41,392 per tonne—GH¢2,587 per 64kg bag—for the remainder of the 2025/2026 crop season, down from GH¢51,660 per tonne at the season’s start in August 2025.
The cuts aim to align COCOBOD’s expenditures with revenue while cushioning farmers against global market volatility and rising operational costs. The sector continues to face debates over farm profitability and regulatory financing, underscoring the need for strategic interventions to sustain Ghana’s critical cocoa industry.