The Ghana Cocoa Board (COCOBOD) head office in Accra
Following the ongoing crisis in Ghana’s cocoa sector, the Ghana Cocoa Board (COCOBOD) has outlined several internal and external reforms to address challenges facing the industry.
Farmers, industry stakeholders, and the Minority Caucus in Parliament have raised concerns about sector growth, farmer payments, and other pressing issues.
Cocoa remains a historical backbone of Ghana’s economy, as the world’s second-largest producer, contributing about 15 to 20 percent of global supply and generating significant foreign exchange. However, the sector has faced periods of downturn in recent years.
Here are 10 key reforms to revive Ghana’s cocoa industry
As part of broader efforts to stabilise the industry and meet farmers’ needs, COCOBOD has introduced key reforms, including payments to farmers and salary reductions to offset some of the organization’s debt.
Key reforms by COCOBOD:
1. Salary reductions:
On February 16, 2026, COCOBOD reduced executive management salaries by 20 percent and senior staff salaries by 10 percent. The move is intended to help pay off arrears owed to cocoa farmers for the remaining months of the 2025/2026 crop season.
2. Payment of GH¢237 million to cocoa farmers:
On February 18, Jerome Kwaku Sam, Head of Public Affairs at COCOBOD, announced that GH¢237 million has been paid to cocoa farmers for 50,000 metric tonnes of cocoa. The payment aims to cushion farmers against falling global cocoa prices.
3. Additional payment of GH¢854 million to Licensed Buying Companies (LBCs):
On February 19, COCOBOD disbursed GH¢854 million to LBCs. Combined with the earlier GH¢237 million payment, total disbursements now amount to GH¢1.091 billion.
4. Suspension of sitting allowances:
On February 20, 2026, COCOBOD announced the suspension of sitting allowances for its Board of Directors for the 2025/26 cocoa season. The measure is intended to support financial reforms, enhance sector efficiency, and ensure long-term sustainability.
COCOBOD also disclosed that the salary reductions could save the organization an estimated GH¢5 million monthly, helping strengthen its financial position while supporting farmers and the wider cocoa sector.
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