Skip to main content

COCOBOD announces salary cuts, cost controls as revenue pressures mount

 COCOBOD’s Executive Management and Senior Staff have announced salary reductions for the remainder of the 2025/26 crop year, citing liquidity challenges in the cocoa industry.

In a statement issued Monday, February 16, 2026, COCOBOD said its Executive Management has taken a 20% pay cut, while Senior Staff have accepted a 10% salary reduction.

The institution said the move is part of a broader cost-cutting drive to reduce expenditure and align operational costs with revenue.

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 statement said.

COCOBOD added that the pay cuts, alongside other measures, are intended to ease pressure on its finances.

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 statement added.

The announcement comes at a time when the cocoa sector is under growing strain, with rising operational costs, concerns over farmer welfare, and intensified public scrutiny over cocoa pricing and COCOBOD’s financial position.

In recent weeks, the cocoa industry has been at the centre of national debate, following tensions over producer prices and the broader sustainability of cocoa farming. Industry watchers have also pointed to the burden of financing cocoa purchases, operational costs, and the impact of global price volatility on revenue flows.

COCOBOD’s decision to cut salaries at the top is therefore being framed as an internal response to cash pressures affecting the sector, while management is pushing to contain costs through procurement reforms and workforce adjustments.

The statement, issued by the Chief Executive, did not provide details on the size of the liquidity gap or the amount of savings expected from the salary reductions.

However, it signals leadership's effort to demonstrate shared sacrifice as the institution pursues broader restructuring measures during the crop season.

COCOBOD also indicated that the salary cuts will remain in place until the end of the current crop year.

Labels:

Comments

Post a Comment

Popular posts from this blog

UK-Ghana Trade & Investment Summit: Trade Resource Centre to help businesses maximise UK-Ghana trade opportunities

 In a significant boost to UK-Ghana trade and investment relations, the UK-Ghana Chamber of Commerce (UKGCC), in partnership with the UK-Ghana Jobs and Economic Transformation (JET) Programme, has launched the UK-Ghana Trade Resource Centre, a practical market-access platform designed to help businesses identify opportunities, navigate export requirements and build commercial partnerships between Ghana and the United Kingdom. The UK and Ghana enjoy strong trade relations, with total bilateral trade reaching approximately £1.6 billion in the year to Q1 2026. Yet, despite this progress, significant untapped opportunities remain for businesses in both countries. The Trade Resource Centre has been established to help bridge information gaps, connect businesses with the right partners, and support firms to take greater advantage of opportunities under the UK-Ghana Trade Partnership Agreement. The launch formed one of the major outcomes of the UK-Ghana Trade & Investment Summit 2026,...
Post a Comment
Read more

NESCAFÉ Launches Real Vibes Text & Win Promo to Reward Coffee Consumers Across Ghana

 NESCAFÉ has launched the Real Vibes Text & Win Promo, an exciting consumer promotion designed to reward loyal coffee lovers and bring the brand’s My Coffee, My Vibe experience even closer to consumers across the country. Running from September to December, the promotion gives consumers the opportunity to enjoy their favourite NESCAFÉ coffee while standing a chance to win exciting prizes, including phones, motorcycles, airtime and the ultimate grand prize—an electric SUV. Speaking at the launch, Lily Ntim, Category Development Manager for NESCAFÉ, said the promotion reflects NESCAFÉ’s commitment to creating, rewarding and memorable experiences for consumers. “Today, we are excited to introduce the NESCAFÉ Real Vibes Text & Win Promo, a campaign designed to bring the My Coffee, My Vibe experience even closer to our consumers,” she said. She added that the campaign is not only about prizes, but also about celebrating the everyday moments consumers enjoy with their coffee. “T...
Post a Comment
Read more

Ghana Home Loans

With interest rates declining, a more liquid environment and a macroeconomic stability, mortgage financing is expected to see an ease of credit. And Ghana Home Loans being a leader in this industry is expected to lead the way. Ghana Home Loans (GHL), a leader in home mortgage, continues to be the frontier in fulfilling dreams of many Ghanaians in homeownership. Since starting business in 2006, it has also provided many existing homeowners with Equity Release mortgages to support their businesses, pay educational fees, improve their properties, or simply pursue other personal hobbies and interests. Ghana Home Loans is a mortgage finance institution which operates under Bank of Ghana’s supervision as a non-bank financial institution. At present, the Company remains the only such institution that focuses exclusively on the provision of mortgage product. Through the Home Completion mortgage and Home Construction mortgage products, Ghana Home Loans has enabled many qualified applican...
16 comments
Read more