Jerome Kwaku Sam, the Head of Public Affairs at the Ghana Cocoa Board (COCOBOD), has revealed that GHC237 million has been paid to cocoa farmers.
He announced that the GHC237 million has been paid for the 50,000 metric tonnes of cocoa after several months of delays in payments.
In a Facebook post on Wednesday, February 18, Jerome Kwaku Sam wrote, “I’m happy to report COCOBOD has started payment of the 50,000 metric tonnes. An amount of GHC237 million has been paid.”
The payment follows, Dr Cassiel Ato Forson, who has announced a revised cocoa price of 64kg cocoa bag from GHS 3,625 to GHS 2,587 for the remainder of the 2025/2026 season.
According to Ato Forson, the decision comes after the Producer Price Review Committee (PPRC), under his chairmanship, convened earlier in the day to assess the challenges facing the Cocoa sector.
Speaking during a press briefing on Thursday, February 12, Dr Forson disclosed, “The PPRC has recommended that the farmer be paid 90% of the achieved gross fob of USD 4,200 per tonne”.
He added that the committee set the new producer price at GH₵41,392 per tonne, equivalent to GH₵2,587 per bag, effective immediately.
Meanwhile, Sam Jerome has revealed that COCOBOD salary reductions affecting over 5,000 senior staff will generate GH¢5 million monthly.
According to Sam Jerome, the COCOBOD salary cut will total GH¢40 million over eight months to defray supplier debts.
Speaking on Eyewitness News on Tuesday, February 17, Sam Jerome detailed, “But the most important thing is that, at least, the leadership under Dr Randy Abbey has taken a step. And the step is that we have reduced the salaries of executive management as well as senior staff by 20% and 10%, respectively.
“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.
Sam Jerome details follows, the CEO of Ghana Cocoa Board (COCOBOD), Dr Randy Abbey, in a press statement, has announced that the Executive Management and Senior Staff will take a pay cut following the challenges within the cocoa sector.
According to the press release, the pay cuts take immediate effect and will remain in place for the remainder of the 2025/2026 crop year.
The press release detailed that Executive Management will take a 20 per cent reduction in salaries, while Senior Staff will also be hit with a 10 per cent cut.
The pay cuts are seen as a broader cost-containment measure to align with revenue.
Also, the CEO statement indicated that additional steps, including procurement reforms and a staff rationalisation exercise, were to be taken to stabilise COCOBOD finances.
In a press release dated Monday, February 16, 2026, COCOBOD announced that the pay cuts, which read, “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 Executive Management has taken a twenty (20) per cent cut, while the Senior Staff have taken a ten (10) per cent reduction in their respective salaries.
This 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 announcement comes on the heels of heightened strain in the cocoa industry, with some key persons questioning COCBOD’s commitments.
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