According to the decision, members of Executive Management will accept a 20 per cent salary reduction, while Senior Staff will take a 10 per cent pay cut. These adjustments will remain in force for the rest of the 2025/26 cocoa crop year.
The move is intended to ease financial pressure on the institution at a time when the cocoa industry is facing significant economic constraints. By cutting salaries at the top levels of management, COCOBOD aims to reduce operational costs while demonstrating leadership responsibility and shared sacrifice in difficult times. This approach is also meant to help stabilize the organization’s finances without immediately resorting to more drastic measures that could affect lower-level workers or disrupt core operations.
The salary reductions reflect COCOBOD’s broader commitment to ensuring the sustainability of Ghana’s cocoa sector, which plays a vital role in the national economy and the livelihoods of millions of farmers. Management believes that the temporary pay cuts will contribute to improving liquidity, restoring confidence, and positioning the institution to better support cocoa production and marketing in the long term.
To conclude with, the decision underscores COCOBOD’s recognition of the financial realities confronting the sector and its willingness to take internal measures to address them responsibly while working toward long-term recovery and stability. 