COCOBOD CEO Randy Abbey
The Ghana Cocoa Board (COCOBOD) has announced a 20% salary cut for its executive management and a 10% reduction for senior staff as part of cost-cutting measures to address liquidity challenges in the cocoa sector.
A statement issued by COCOBOD on Monday, February 16, said the salary reductions will remain in effect for the remainder of the 2025/2026 crop season.
The Board indicated that the decision, along with other cost-cutting measures in procurement and a staff rationalisation exercise, is aimed at reducing overall expenditure and aligning costs with revenue.
