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By Phalonzy and published by heroesghnews.com
The Ghanaian cocoa industry is breathing a sigh of relief as stakeholders applaud the Ghana Cocoa Board’s (COCOBOD) decision to impose salary reductions on its staff, a move aimed at mitigating the sector’s pressing liquidity challenges.
In a bold step, COCOBOD’s Executive Management and Senior Staff have taken voluntary pay cuts of 20% and 10% respectively, effective immediately, for the remainder of the 2025/2026 crop year.
“We were expecting it to be 30 percent looking at their salaries. Now that they have come up with 20 percent, we are okay. It shows that they have considered our request, unlike before. So we are a bit okay,” said Stephenson Anane Boateng, President of the Ghana National Association of Cocoa Farmers, expressing cautious optimism.
This decisive action forms part of COCOBOD’s comprehensive cost-containment strategy, encompassing procurement reforms and staff rationalization, designed to fortify the Board’s financial foundations and ensure the long-term sustainability of Ghana’s cocoa industry.
