Akufo-Addo directs GRA, Finance Ministry to renegotiate deal with SML

President Nana Addo Dankwa Akufo-Addo has directed the Ghana Revenue Authority (GRA) and the Ministry of Finance to renegotiate its deal with Strategic Mobilisation Ghana Limited (SML).

This is in a press statement from the presidency on the findings of the audit conducted by KPMG on the deal.

In the statement, the President said, “Given that the upstream petroleum and minerals audit services could prevent significant revenue leakages, the President has directed that the Ministry and GRA conduct a comprehensive technical needs assessment, value-for-money assessment, and stakeholder engagements before implementing such services.”

President Akufo-Addo further directed that SML's performance in any renegotiated contracts should be monitored and evaluated periodically to ensure that it meets expectations.

The President also ordered that any renegotiated contract should be compliant with section 33 of the PFMA.

"The Ministry of Finance and the Ghana Revenue Authority are to give effect to the above directives of the President immediately and provide the Office of the President with an update on the steps taken,” parts of the statement from the Presidency said.

In the press statement, the Presidency revealed that the audit by KPMG revealed that Strategic Mobilisation Ghana Limited (SML) received a total of GH¢1,061,054,778 from 2018 to the present, for its services in revenue mobilisation under the deal with GRA and the Ministry of Finance.