NEWS
COCOBOD STAFF SALARIES REDUCED BY 20% EFFECTIVE FEBRUARY 16 FOLLOWING LIQUIDITY CHALLENGES IN COCOA INDUSTRY
COCOBOD’s Executive Management and Senior Team have declared salary cuts for the rest of the 2025/26 crop year, pointing to liquidity issues within the cocoa sector.
In a release dated Monday, February 16, 2026, COCOBOD announced that its Executive Management is undergoing a 20% salary reduction, while Senior Staff have agreed to a 10% pay cut.
The organization stated that the decision forms part of a wider effort to lower costs and match operational expenses with income.
“The Executive Management and the Senior Staff of COCOBOD have, effective today, Monday, February 16, 2026, reduced their salaries for the remainder of the 2025/26 crop year in recognition of the current liquidity challenges in the cocoa industry,” the statement said.
COCOBOD mentioned that the salary reductions, along with additional actions, aim to alleviate strain on its financial situation.
“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 costs with revenue,” the statement added.
The announcement comes as the cocoa industry faces increasing pressure, marked by escalating operational expenses, worries about farmer well-being, and heightened public examination of cocoa pricing and COCOBOD’s financial situation.
Source: NKONKONSA.com
