Atlas Commodities Limited has denied allegations that Mr. Ato Boateng, Deputy Chief Executive of the Ghana Cocoa Board (COCOBOD), is pushing its interests.
The Minority, lead by Vincent Ekow Assafuah, Member of Parliament for Old Tafo, urged authorities to investigate Atlas for reportedly operating in Produce Buying Company (PBC) warehouses without sufficient authorization, citing probable regulatory violations and conflicts of interest.
In response, Atlas confirmed that Mr. Boateng resigned as Director and Managing Director of the company on January 20, 2025, and transferred his shares to a blind trust on the same day. His retirement and share transfer were completed prior to his appointment as COCOBOD Deputy CEO in February 2025. The business stated that he has had no involvement in Atlas’ management, decision-making, or operational activities since his resignation.
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Atlas, a fully Ghanaian-owned Licensed 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, emphasizing that no funds were received from COCOBOD for these operations.
The company also emphasized its independent operational strategy, stating that it maintains depots, hires employees, and purchases its own tools and logistics. Atlas emphasized that its collaboration with PBC, which was formalized through a Memorandum of Understanding and a Tripartite Sustainability Agreement signed in October 2023, predates Mr. Boateng’s appointment to COCOBOD and is meant for mutual benefit.
Atlas reaffirmed its commitment to openness, regulatory compliance, and support for cocoa farmers in Ghana, noting that its measures were intended to alleviate farmer pain and ensure that cocoa purchases went successfully.
Source: Citinewsroom
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