Renegotiate SML contract - Akufo-Addo to GRA, finance ministry

President Nana Addo Dankwa 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).

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," he wrote.

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.

On January 2, 2024, President Nana Akufo-Addo commissioned KPMG to investigate the contract between SML and GRA, prompted by an exposé by media outfit, the Fourth Estate.

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