The Ghana Cocoa Board (COCOBOD) is expected to save approximately GHS5 million each month following a decision to reduce salaries of its executive management and senior staff.

The Board’s Head of Public Affairs, Jerome Kwaku Sam, disclosed this during an interview on Accra-based Citi FM on Tuesday, February 17.

The salary reductions — 20 per cent for executive management and 10 per cent for senior staff — took immediate effect and will remain in place for the remainder of the 2025/2026 crop year.

The move was formally announced in a press statement dated Monday, February 16, 2026, as part of measures to address ongoing liquidity challenges within the cocoa sector.

Mr. Sam indicated that the decision underscores the commitment of the Board’s leadership under Chief Executive Officer Randy Abbey to manage the institution prudently.

“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,” he stated.

He estimated that the reductions could generate savings of no less than GHS40 million over the next eight months.

“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 added.

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 as part of efforts to stabilise the Board’s finances and restore sustainability to the cocoa sector.