Akufo-Addo orders GRA and Finance Ministry to renegotiate SML contract

Ghanaian

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

The was disclosed in a press statement by Eugene Arhin, the Communications Director of the Presidency.

The decision stems from the President's acceptance of KPMG's recommendation following its audit

Read full articleinto the contract, prompting the need for improvements in areas highlighted by the findings.

In particular, the President highlighted the necessity to review the downstream petroleum audit services provided by SML, citing significant benefits observed, including increased tax revenue and enhanced monitoring capabilities.

The renegotiation will focus on areas such as the fee structure, intellectual property rights, termination clauses, and service delivery expectations.

The audit, commissioned on January 2, 2024, was initiated following revelations by the Fourth Estate, and the report was submitted to President Akufo-Addo on Wednesday, March 27.