SML paid GH¢1billion since 2018 – KPMG audit report reveals

Following an extensive audit conducted by KPMG, it has been 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.

The findings were disclosed in a press statement issued by Eugene Arhin, the Communications Director of the Presidency, on Wednesday, April 24, 2024.

President Nana Addo Dankwa Akufo-Addo initiated the audit of the contract between the Ghana Revenue Authority (GRA) and SML on January 2, 2024.

Originally scheduled to conclude by January 16, 2024, the audit period was extended to February 23, 2024, due to its complexity.

Upon completion of the report, public demand for its release increased, 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."

Subsequently, President Akufo-Addo endorsed the recommendation to terminate the upstream petroleum and minerals audit services previously provided to the GRA by Strategic Management Limited (SML).

He directed the GRA and the Ministry of Finance to enter renegotiations concerning the contract.