Atlas Commodities Limited has rejected claims that Mr Ato Boateng, Deputy Chief Executive of the Ghana Cocoa Board (COCOBOD), is advancing its interests.
The Minority, led by the Member of Parliament for Old Tafo, Vincent Ekow Assafuah, had urged authorities to probe Atlas for allegedly operating in Produce Buying Company (PBC) warehouses without proper authorisation and raised concerns about potential regulatory breaches and conflicts of interest.
In response, Atlas clarified that Mr. Boateng resigned as Director and Managing Director of the company on January 20, 2025, and placed his shares in a blind trust on the same day. His resignation and the share transfer were completed before his appointment as COCOBOD’s Deputy CEO in February 2025. The company emphasised that he has had no involvement in Atlas’ management, decision-making, or operational activities since his resignation.
Atlas, a fully Ghanaian-owned Licenced Buying Company operating under COCOBOD regulations since 2018, also defended its recent operations in the Volta and Oti Regions.
The company explained that it deployed staff to assist cocoa farmers who were unable to sell their produce due to a lack of active Licenced Buying Companies in those areas.
Atlas purchased around 3,000 bags of cocoa to prevent spoilage and temporarily used PBC depot facilities with approval from the PBC District Manager, emphasising that no funds were received from COCOBOD for these operations.
The company also highlighted its independent operational model, noting that it maintains depots, employs staff, and procures its own tools and logistics. Atlas stressed that its partnership with PBC, formalised through a Memorandum of Understanding and a Tripartite Sustainability Agreement signed in October 2023, predates Mr. Boateng’s appointment at COCOBOD and was intended for mutual benefit.
Atlas reaffirmed its commitment to transparency, regulatory compliance, and support for cocoa farmers across Ghana, stating that its actions were aimed at alleviating farmer distress and ensuring cocoa purchases proceeded smoothly.
