Atlas Commodities says Ato Boateng cut all ties before joining COCOBOD

Atlas Commodities Limited has denied claims that its founding Chief Executive Officer, Ato Boateng, is using his position at the Ghana Cocoa Board (COCOBOD) to advance the company’s interests.

In a press statement dated February 24, 2026, the company said Mr Boateng had completely severed ties with the business before assuming public office.

“Mr. Ato Boateng has not used his position at COCOBOD to advance the interests of Atlas Commodities Limited,” the statement said.

The company explained that Mr Boateng resigned as Director and Managing Director on January 20, 2025, several weeks before he was appointed Deputy Chief Executive in charge of Finance and Administration at COCOBOD on February 5, 2025.

According to Atlas Commodities, he also executed a Deed of Blind Trust on the same day he resigned, transferring his shares and completing all documentation ahead of his public appointment.

“Since his resignation, Mr Boateng has had no involvement in the management, decision-making, or operational activities of the company,” the statement added.

The response follows allegations made by Old Tafo MP and Minority Spokesperson on Governance and Accountability, Vincent Ekow Assafuah, at a press conference on February 23.

Mr Assafuah called on the Office of the Special Prosecutor and the Commission on Human Rights and Administrative Justice (CHRAJ) to launch a full criminal investigation into Atlas Commodities and its links to Mr Boateng.

He alleged that COCOBOD was deliberately depriving Produce Buying Company (PBC) of funds while Mr Boateng channelled support to Atlas.

He also cited documents from the Registrar-General’s Department, which he claimed showed Mr Boateng’s ownership and directorship of the company.

Describing the situation as a “clear conflict of interest,” Mr Assafuah argued that “you cannot be a referee and be a player at the same time,” referencing provisions in the Ghana Cocoa Board Act.

Atlas Commodities, however, insists the allegations do not reflect the facts.

The company maintains that Mr Boateng’s resignation and transfer of shares removed any potential conflict before he entered public office.

In a separate statement, Mr Boateng also addressed the matter, saying he had fully complied with public sector transparency requirements.

He said he declared his interest in Atlas Commodities and the blind trust as part of his Assets and Liabilities Declaration and submitted the documents to the Auditor-General.

Mr Boateng further clarified COCOBOD’s internal structure, noting that his department does not supervise Licensed Buying Companies.

According to him, regulatory oversight of LBCs falls under the Deputy Chief Executive for Operations, while grading, sealing, and cocoa quality supervision are handled by the Deputy Chief Executive for Agronomy and Quality Control.

“This means my office has no direct role in regulating buying companies,” he explained.

The company said it does not dispute the importance of avoiding conflicts of interest in public service, but insists that Mr Boateng no longer has any stake in Atlas Commodities.

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