The Ghana Cocoa Board (COCOBOD) is expected to save an estimated GH¢5 million each month following salary reductions for its executive management and senior staff, according to the Board’s Head of Public Affairs, Jerome Kwaku Sam.

The pay cuts, 20 per cent for executive management and 10 per cent for senior staff, take immediate effect and will remain in place for the rest of the 2025/2026 crop year. The decision was announced in a press release dated Monday, 16 February 2026, as part of measures to address liquidity challenges in the cocoa sector.

Speaking on Tuesday, 17 February, Mr Sam said the move underscores the leadership’s commitment to prudent financial management under Chief Executive Officer Dr Randy Abbey.

“The most important thing is that the leadership under Dr Randy Abbey has taken a step,” he said. “We have reduced the salaries of executive management as well as senior staff by 20 per cent and 10 per cent respectively.

“From where I sit, tentatively, at least GH¢5 million can be saved on a monthly basis. With about eight months to go, we are looking at no less than GH¢40 million, which can be used to defray some of the debt on COCOBOD’s books,” he said in an interview with Citi FM.

The salary adjustments form part of broader cost-containment measures aimed at aligning expenditure with revenue. Management has also initiated procurement reforms and a staff rationalisation exercise to help stabilise the Board’s finances.