An extensive audit by KPMG uncovered that Strategic Mobilisation Ghana Limited (SML) has received a total of GH¢1,061,054,778 from 2018 to the present for its revenue mobilization services.
The findings were made public in a press statement released by Eugene Arhin, the Communications Director of the Presidency, on Wednesday, April 24.
President Nana Addo Dankwa Akufo-Addo initiated an audit of the contract between the Ghana Revenue Authority (GRA) and SML on January 2, 2024.
The audit was originally set to conclude on January 16, 2024, but the period was extended to February 23, 2024.
Upon the report’s completion, calls from the public for its release heightened, prompting the president to make the findings public.
According to the April 24 statement from the Presidency, “the total fees paid under the contracts from 2018 to the date of suspension amount to GH¢1,061,054,778. No fee has been paid for the upstream petroleum audit and minerals audit services.”
Additionally, it mentioned that “the total fees estimated to be paid to SML under the 2023 Contract for five years is GH¢5,173,091,857, which averages to about GH¢1 billion per year.”
Following the audit, President Akufo-Addo approved the recommendation to end the upstream petroleum and minerals audit services previously offered to the GRA by Strategic Management Limited (SML).
He instructed the GRA and the Ministry of Finance to renegotiate the contract.
