Ms Boakye, who campaigned for the failed re-election bid of Mr Mahama, said in a broadcast interview she has met the former president twice and that she doubt if he will be able to identify her in public.
During the 2016 election campaign, political opponents of the former president speculated that he is dating Ms Boakye.
But speaking on Accra FM's Entertainment Capital, the actress said the claim is not true, describing the rumour as funny.
She said: “This question is not funny. What is going on on social media is not funny.
"He is a statesman; you can’t just say something simple like that, let’s respect our elders. I have seen many stories that say I’m dating him but I decided to ignore because I ask myself’ ‘Is this even funny?’
"He is a decent elderly man who respects himself, so how is it possible? This is the [former] president we are talking about.
"He doesn’t know me, I only endorsed him. He saw me in Kumasi once or twice, I don’t even know if he will recognise me today but then you say I’m dating him, how? It’s impossible.”
Asked by the show host if she will campaign for John Mahama again in 2020, she responded: "why not?"
“But I won’t campaign for anybody if a different person is chosen,” she added.