President Nana Addo Dankwa Akufo-Addo has appointed KPMG to conduct an immediate audit into the transaction between the Ghana Revenue Authority (GRA) and Strategic Mobilization Ghana Ltd (SML).

A contract which was entered into to enhance revenue assurance in the downstream petroleum sector, the upstream petroleum production, and the minerals and metals resources value chain.

In a statement issued by the Director of Communication at the Presidency, Eugene Arhin indicated that the President also tasked KPMG to complete the assignment in two weeks and submit appropriate recommendations to him.

The President has directed the Ministry of Finance and GRA to provide KPMG with whatever assistance they will require for the conduct of the audit.

Meanwhile, when the mishaps of the contract were highlighted by the Fourth Estate, the Ghana Revenue provided an explanation in which they exonerated the Finance Minister.

Read the full story originally published on December 22,2023

The Ghana Revenue Authority (GRA) has said it followed due process in procuring the services of Strategic Mobilization Ghana Limited.

He said the Finance Minister cannot be blamed by the Fourth Estate since the contract went through a genuine PPA process and was duly approved

A statement issued by GRA on Wednesday, December 20, 2023, said the SML contract, which is performance-based will inject efficiency in revenue assurance services.

“GRA restate that the consolidated contract which is a risk-reward contract seeks to bring efficiency in Revenue Assurance Services provided to GRA. SML per the contract is required to provide resources for the execution of the contract. By implication, if there is no value addition, SML is not paid. In short, the principle of risk and reward is the fulcrum of the contract,” it said.

“The Contract is for five (5) years and is performance-based and approved under Section 40 of the Public Procurement Act, Act 663, 2003. The Board and Management www.gra.gov.ghaffirm that all legal and proper processes were followed in procuring the services of SML.”

“SML solely financed the capital expenditures and cutting-edge technology that is employed in the monitoring and auditing services provided to GRA in the Downstream Petroleum Sector,” the GRA added.