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.
Nana Aduna II, the spokesperson of the Ghana Farmers Association, has questioned the fairness of the cocoa price reduction.
Speaking on JoyNews AM Show, Nana Aduna II quizzed why only cocoa farmers are taking the hit and not COCOBOD staff salaries too.
According to Nana Aduna II, if COCOBOD staff are also taking a hit on their salaries, too, it would create a fairer system and a level playing field for farmers.
Nana Aduna II on the show stated, “The question we would like to ask is, why are only farmers taking the hit? When you look at the trajectory of our cocoa system, there’s the farmer, the haulage system, licensed buying companies, and COCOBOD. That’s before the beans are even exported. So why is the farmer alone taking the hit?”
“The first step should have been to reduce the salaries of staff and the margins that the government makes by the same amount,” he stated.
“If COCOBOD staff were also affected, it would create a fairer system and a level playing field for farmers.
“Farmer groups have been made poor and weakened over time. There is very limited collective bargaining. So how do we fight back? What tools do we have? Do we just put our hands behind our backs?” he asked.
Also, Andy Appiah-Kubi, a former member of parliament for Asante Akim North, has said management of the Ghana Cocoa Board (COCOBOD) must cut salaries by 28% to show commitment following the crisis in the cocoa sector.
According to him, COCOBOD management’s slashing of salaries by 28 per cent will demonstrate they are finding solutions to the crisis.
Speaking on TV3 Key Points on Saturday, February 14, Andy Appiah-Kubi stated, “I want to wake up to the news that COCOBDO management has received sales of 28 per cent”.
He further debunked claims that COCOBOD problems started just eight years ago, arguing that COCOBOD are historic, dating back to Nkrumah’s time.
See the post below:
Press Release: COCOBOD Management and Senior Staff Pay Cut pic.twitter.com/P2K1K2jXsQ
— Ghana Cocoa Board (@ghcocobod) February 16, 2026