The Head of Public Affairs of the Ghana Cocoa Board (COCOBOD) Jerome Kwaku Sam has revealed that COCOBOD is likely to save GH¢5 million every months following salary cut for its Executive management and senior staff.
On Monday, February 16, 2026, COCOBOD announced in a statement that it has made a 20% and 10% Salary cut for its Executive management and Senior staff respectively for the remaining 2025/2026 crop year. The move according to COCOBOD forms part of measures to address liquidity challenges within the cocoa sector.
However, speaking on Citi FM on Tuesday, February 17, Kwaku Sam said the decision demonstrates the leadership’s commitment to manage the sector prudently under Chief Executive Officer Dr. Randy Abbey.
“But the most important thing is that, at least, the leadership under Dr. Randy Abbey has taken a step. And the step is that we have reduced the salaries of executive management as well as senior staff by 20% and 10%, respectively.
“From where I sit, tentatively, at least some 5 million cedis can be saved on a monthly basis. So, if you have about eight months to go, you are talking about no less than 40 million Ghana cedis, which can be used to defray some of the debt that sits on the books of COCOBOD,” he said.
The salary adjustments form part of broader cost-containment efforts aimed at aligning expenditure with revenue. Management has also initiated procurement reforms and a staff rationalisation exercise to help stabilise the Board’s finances.
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