(COCOBOD) has announced salary reductions for its Executive Management and Senior Staff as part of measures to address ongoing financial pressures in the cocoa sector.
In a press release dated February 16, 2026, the Board said the decision takes effect immediately and will run for the remainder of the 2025/2026 crop year.
According to the statement, Executive Management will take a 20 percent pay cut, while Senior Staff will accept a 10 percent reduction in their respective salaries.
READ ALSO:
COCOBOD explained that the move is in recognition of current liquidity challenges facing the cocoa industry. The Board noted that the salary adjustments form part of broader cost-cutting measures, including procurement controls and a staff rationalisation exercise.
Management says the aim is to reduce overall expenditure and better align operational costs with revenue.
