Atlas Commodities denies allegations of exploiting public office for business gain

Atlas Commodities Limited has firmly rejected allegations that it exploited the public appointment of its founding Chief Executive, Ato Boateng, to gain unfair access to state infrastructure or financial advantage, describing the claims as “misleading and mischievous.”

In a statement dated February 24, 2026, the company said documents in its possession show that its working relationship with the state-owned Produce Buying Company (PBC) predates Boateng’s appointment as Deputy Chief Executive (Finance and Administration) of the Ghana Cocoa Board (COCOBOD) in February 2025.

“It would therefore be misleading and mischievous for any entity that is party to these agreements to suggest otherwise,” the company stated.

According to Atlas, it signed a Memorandum of Understanding with PBC in October 2023, more than a year before Boateng assumed public office.

The company also referenced a tripartite Sustainability Cooperation Agreement involving PBC, Atlas, and the Rostoff Foundation, signed on October 11, 2023.

It added that Boateng signed both agreements on behalf of Atlas in his capacity as Chief Executive at the time.

“The agreements permitted Atlas to utilise PBC’s operational infrastructure across cocoa-buying districts in exchange for providing financing support, international offtaker connections, and funding for certification under the Rainforest Alliance programme.

Assafuah, others accused of smear campaign against COCOBOD's Ato Boateng

“This was a purely commercial arrangement, not a political favour,” the company stressed.

The clarification follows allegations by the Minority in Parliament, led by the Member of Parliament for Old Tafo and Minority Spokesperson on Governance and Accountability, Vincent Ekow Assafuah, that Atlas had been operating in PBC warehouses without proper authorisation, contrary to COCOBOD regulations, which prohibit the transfer of warehouse certificates between companies.

The Minority argued that Atlas’s access to PBC facilities suggested undue influence arising from Boateng’s position at COCOBOD and called on the Office of the Special Prosecutor and the Commission on Human Rights and Administrative Justice (CHRAJ) to initiate a full criminal investigation.

Assafuah described the situation as a “clear conflict of interest,” stating, “You cannot be a referee and be a player at the same time,” in reference to provisions of the Ghana Cocoa Board Act.

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

Atlas however acknowledged that it temporarily used PBC depot facilities in the Volta Region in December 2025 but insisted this occurred within the framework of its pre-existing relationship with PBC.

The facilities, it said, were made available at the invitation of PBC’s District Manager in Hohoe, and jute sacks borrowed at the time were fully replaced.

While defending its conduct, the company conceded that authorisation for the facility use may not have passed through the highest corporate channels.

“Admittedly, access to the PBC facilities was granted at the district level within the context of established operational relationships,” the statement noted.

In a related statement, Atlas also denied claims that Ato Boateng was using his position at COCOBOD to advance the company’s interests.

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

It explained that Ato Boateng resigned as Director and Managing Director on January 20, 2025, several weeks before his appointment as Deputy Chief Executive on February 5, 2025. On the same day he resigned, Atlas said he executed a Deed of Blind Trust, transferring his shares and completing all documentation ahead of his public appointment.

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

In a separate response, Ato Boateng said he had fully complied with public sector transparency requirements, declaring his interest in Atlas Commodities and the blind trust arrangement as part of his Assets and Liabilities Declaration submitted to the Auditor-General.

He further clarified that his department does not supervise Licensed Buying Companies (LBCs). 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.

Atlas maintained that it does not dispute the importance of avoiding conflicts of interest in public service but insisted that Ato Boateng’s resignation and transfer of shares removed any potential conflict before he entered public office.

The company concluded that the said allegations, taken together, do not reflect the facts and expressed confidence that a proper review would vindicate its position.