Management and senior staff at Ghana Cocoa Board (Cocobod) have agreed to take pay cuts aimed at, among others, reducing the overall expenditure of the state’s cocoa management body.
Taking effect from Monday, February 16, the move will see management members take a 20 percent cuts while senior staff take a 10 percent cut in their salaries.
A press release issued by the Chief Executive, Dr Randy Abbey, noted that the reduced salary is for the remainder of the 2025/26 crop year.
“This decision and other cost-cutting measures in procurement and a staff rationalisation exercise are aimed at reducing the overall expenditure of Cocobod and aligning cost with revenue.”
The decision comes after Cabinet met last Wednesday to roll out reforms aimed at boosting the country’s cocoa sector.
Among there reforms is the reduction in the price for a bag of cocoa from GH¢3,625 to GH¢2,587.