The Board of Directors of the Ghana Cocoa Board (COCOBOD) has announced that its members will forgo their sitting allowances for the remainder of the 2025/26 cocoa season.
The decision, according to a public notice issued by the Board, is in support of ongoing reforms in Ghana’s cocoa industry and forms part of broader efforts to ensure the long-term sustainability of the sector.
The Board stated that its members have unanimously resolved to waive all sitting allowances until the end of the current crop season.
“This gesture reflects our commitment to prudent financial management, shared sacrifice, and responsible leadership as COCOBOD navigates critical reforms to address the recent challenges facing the cocoa industry,” the statement read.
The move comes amid heightened financial pressures on COCOBOD, including liquidity constraints, legacy debts, and the need for cost-cutting measures across the organisation to stabilise its operations.
The Board emphasised that it remains fully committed to initiatives that will enhance operational efficiency, strengthen accountability, and protect the welfare of cocoa farmers nationwide.
It further reaffirmed its dedication to collaborating closely with the government and other key stakeholders to build a more resilient and sustainable future for Ghana’s cocoa sector, which remains a major pillar of the national economy.
The waiver of sitting allowances is the latest in a series of austerity and reform measures introduced by COCOBOD and the government in response to mounting concerns over the financial health of the Board and the broader challenges in the cocoa value chain.