Renegotiate SML contract – Akufo-Addo to GRA, Finance Ministry

President Akufo-Addo has instructed the Ghana Revenue Authority (GRA) and the Ministry of Finance to renegotiate the revenue assurance contract with Strategic Mobilisation Limited (SML).

The decision to renegotiate the contract follows the President’s acceptance of the recommendation by KPMG after its audit of the deal.

The audit findings prompted the need for a review of the revenue assurance contract, highlighting areas where improvements are necessary to enhance its effectiveness.

However, it is important to review the contract for downstream petroleum audit services, particularly the fee structure

Other provisions of the contract worth reviewing include clauses on intellectual property rights, termination, and service delivery expectations.”

On January 2 of this year, President Nana Akufo-Addo commissioned KPMG to investigate the contract between SML and GRA, prompted by an exposé by the Fourth Estate.

President Akufo-Addo has since received the KPMG audit report regarding the revenue mobilisation contract between GRA and SML.