10-year SML/GRA contract remains suspended pending KPMG audit – Presidency

Christian Sottie is MD at SML

President Akufo-Addo has directed the commencement of an immediate audit into the contract between the Ghana Revenue Authority (GRA) and Strategic Mobilization Ghana Ltd (SML).

The contract was established to fortify revenue assurance in the downstream petroleum sector, upstream petroleum production, and the minerals and metals resources value chain.

However, the Minority in Parliament called for a full-scale Parliamentary probe into a contract between the government and a private entity.

As per an investigative report by the Fourth Estate, the contract is deemed questionable.

However, Finance Minister Ken Ofori-Atta has reportedly expanded it, resulting in a projected cost of $100 million to the state over the next decade.

The latest comprehensive audit, ordered by the president, aims to delve into various aspects of the agreement, ensuring transparency, legality, and adherence to industry best practices.

The esteemed Audit, Tax, and Advisory Services firm, KPMG, has been appointed to conduct the audit, with specific Terms of Reference outlined by the President.

It will also evaluate the contracting methodology, compliance with legal standards, and industry best practices in the procurement process for SML’s selection.

President Akufo-Addo has set a two-week timeline for KPMG to complete the assignment and submit a detailed report with appropriate recommendations.

During this period, the President has directed the Ministry of Finance and GRA to provide KPMG with any necessary assistance for the audit.

Find attached full details of the statement issued by the office of the president

President Akufo-Addo directs audit into SML GRA Contract




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