Ghanaian Cocoa Giant COCOBOD Investigates Deputy CEO Over Alleged Conflict
Documents have emerged challenging conflict of interest allegations against Ato Boateng, Deputy Chief Executive of COCOBOD, concerning his past ties with Atlas Commodities Limited. Mr. Boateng refutes the claims, citing his resignation, share transfer, and official asset declaration, while COCOBOD's operational structure also disputes the feasibility of such manipulation. He welcomes investigations by oversight bodies.
Allegations of a conflict of interest against Mr. Ato Boateng, Deputy Chief Executive for Finance and Administration at the Ghana Cocoa Board (COCOBOD), have been challenged by documents obtained by Adomonline.com.
The claims, made by Hon. Vincent Ekow Assafuah, MP for Old Tafo and Minority in Parliament, accused Mr. Boateng of favoring Atlas Commodities Limited and called for a criminal investigation into the company’s operations, particularly concerning warehouses registered under the Produce Buying Company (PBC).
Mr. Boateng has strongly denied the allegations, describing them as false and baseless. Key points from the documents include:
• He resigned as Board Director of Atlas Commodities Limited on January 20, 2025, prior to his COCOBOD appointment.
• All his shares in Atlas Commodities were transferred to two trustees, Edinam Yao Cofie and George Ofori, to prevent any potential conflict.
• His previous interests and transfers were fully disclosed in his official Declaration of Assets and Liabilities, submitted to the Auditor-General.
Evidence indicates that COCOBOD holds no shares in PBC Limited, and therefore has no control over its operations.
Decisions regarding Licensed Buying Companies (LBCs), grading, quality control, and seed money allocation are handled by separate directorates with multiple approval layers.
No officer, including Mr. Boateng, can unilaterally influence allocations or management decisions.
For the past two years, COCOBOD has not provided seed money to LBCs, requiring them to seek private financing, further undermining claims of manipulation.
Mr. Boateng has welcomed investigations by the OSP and CHRAJ, expressing confidence in constitutional and institutional processes to provide clarity.
Observers suggest that the resolution of these allegations will ultimately rest with these official bodies, rather than public speculation or political commentary.