Ghana Cocoa Board Executives to Face Salary Cuts

The Ghana Cocoa Board (Cocobod) announced that its executives and senior staff will face salary reductions effective February 16, 2026, as a response to liquidity challenges impacting the cocoa sector. This decision was confirmed in a press release issued by the Chief Executive of Cocobod.

The salary cuts are part of a wider strategy to align the board's spending with available revenue for the remainder of the 2025/26 cocoa crop year, aiming to maintain financial stability during a period of declining cocoa prices. The press release highlighted that the salary reductions for executives and senior staff are combined with other cost-saving actions, including a staff rationalization exercise, to reduce overall spending.

The cocoa market has experienced significant volatility, with a year-to-date loss of 10% and a notable decline of 29% in January. As of February 9, 2026, cocoa inventory levels reached a 3.25-month high, further pressuring prices, which have fallen 37% in the global commodity market.