Jerome Kwaku Sam, the Head of Public Affairs at the Ghana Cocoa Board (COCOBOD), has revealed plans to undertake an internal audit of the cocoa regulator’s over 10,000 staff on its payroll.
According to him, the internal audit is to determine the exact number of employees on its payroll and to assess if their roles are assigned to their portfolios.
He detailed that at the end of the internal audit, if it revealed that COCOBOD can function effectively with 5,000, 1,000 or even 500, so be it.
Speaking in an interview on Citi Business News, Jerome Sam stated, “It is not even about the numbers. If we unearth that the over 10,000 staff are each productive and efficient in what they are doing, that is fine”.
“But if, upon a forensic or Human Resource audit, it is revealed that we can operate effectively with 5,000, 1,000 or even 500 people, and that will ensure the sustenance of the industry, then so be it”.
He added, “The HR audit will ascertain whether we indeed have over 10,000 permanent staff, as the Chief Executive was presented with. Beyond that, it will determine whether all these staff members warrant the portfolios they currently occupy. This is important, and it will be done”.
COCOBOD’s planned audit comes on the heels of the CEO implementing economic measures in response to liquidity challenges within the cocoa sector.
The announcement comes on the heels of heightened strain in the cocoa industry, with some key persons questioning COCBOD’s commitments.
Also, 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”.
Meanwhile, Jerome Kwaku Sam 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.”