The Ghana Revenue Authority (GRA) has clarified that its suspension of Strategic Mobilisation Ghana Ltd’s (SML) services in the upstream petroleum and mineral sectors remains in force.
It said the services, suspended in April 2024, remained in force pending further review.
“GRA has not instructed SML to activate nor resume operations under the 2023 Consolidation of Revenue Assurance Services Contract covering those sectors,” the GRA said in a statement issued by its Communication and Public Affairs Department in Accra yesterday.
The GRA said it, therefore, noted with concern publications in a section of the media yesterday, claiming that SML had unveiled an expansion of its revenue assurance oversight to cover the country’s upstream petroleum and solid minerals sectors.
“The authority wishes to assure stakeholders in the aforementioned sectors and the general public of its unwavering commitment to protecting the nation's revenue with integrity and transparency,” the statement added.
SML throws more light
In an interview, the management of SML explained that an event held in Tema last Wednesday was to celebrate its fifth anniversary of real-time monitoring and revenue assurance in the downstream petroleum sector.
It said the occasion was also used to make the guests and the public aware of its robust platform for monitoring systems for the solid minerals and upstream petroleum sectors.
The company also signalled its intent to expand beyond Ghana, positioning its model as a potential solution to illicit financial flows across Africa.
“African countries lose about $90 billion in illicit financial flows annually, according to the African Development Bank Group. SML is ready — with the expertise, the tools, track record and groundbreaking innovation — to support that continental transformation,” the company indicated.
