COCOBOD executives cut salaries 20%, senior staff 10% amid cocoa sector liquidity crisis
Ghana Cocoa Board (COCOBOD) executives and senior staff have reduced salaries by 20% and 10% respectively, effective February 16, 2026, to address liquidity challenges in the cocoa sector. The pay cuts, confirmed in a COCOBOD press release, aim to align spending with revenue for the remainder of the 2025/26 crop year. Combined with procurement savings and staff rationalization, these measures seek to maintain financial stability during declining cocoa prices and market pressures. Cocoa prices fell 44% in 2025 to $6,065/ton, with futures dropping below $4,000 in February 2026 amid West African production surpluses. COCOBOD's actions reflect sector-wide pressures from oversupply and price volatility.