The Board of Directors of the Ghana Cocoa Board (COCOBOD) has taken a decisive step toward restoring stability and confidence in the cocoa sector by resolving to forgo all sitting allowances.
This waiver will remain in effect for the remainder of the 2025/2026 cocoa season. According to a public notice issued on February 19, 2026, the move is a symbolic and practical demonstration of leadership commitment aimed at restoring stability and confidence in the cocoa sector amidst ongoing reforms.
The Board emphasized that this sacrifice is part of a broader strategy for restoring stability and confidence in the cocoa sector through prudent financial management. By forgoing these payments, members hope to signal a shared sense of responsibility with farmers who are navigating recent industry challenges.
- COCOBOD Releases GH¢4.2 Billion to Clear Outstanding Cocoa Farmers’ Arrears
- COCOBOD Assures Farmers of No Further Cocoa Price Cuts for 2026 Season
- COCOBOD Slashes Executive and Senior Staff Salaries Amid 2026 Revenue Strain
- Minority Urges Dismissal of COCOBOD CEO Randy Abbey Following Cocoa Price Reduction
- Government Announces Revised Cocoa Producer Price for the 2025/2026 Season
In addition to the allowance waiver, COCOBOD is undertaking critical structural changes focused on restoring stability and confidence in the cocoa sector. These reforms are designed to enhance operational efficiency, promote transparency, and safeguard the livelihoods of those within the value chain.
The statement reiterated that the Board’s primary objective remains restoring stability and confidence in the cocoa sector to ensure long-term sustainability. Collaborative efforts with the government and international stakeholders are expected to further bolster this resilience.
Industry analysts suggest that such high-level fiscal discipline is a necessary component for restoring stability and confidence in the cocoa sector. It sets a precedent for responsible governance within state-subvented agencies during periods of economic transition.
As the season progresses, the Board remains dedicated to the task of restoring stability and confidence in the cocoa sector. The public notice concluded by reaffirming their commitment to securing a prosperous future for the millions of Ghanaians dependent on the industry.
