SML breaks silence on alleged US$100 million government contract

Strategic Mobilisation Ghana Limited (SML) has strongly refuted allegations of being awarded a 10-year government contract, asserting that the duration of the contract is, in fact, five years.

Dismissing claims made in a documentary by an Accra-based media outfit, SML challenged them to produce any contract evidence supporting the assertion of a 10-year agreement.

In a released statement, SML categorically denied receiving $100 million annually from its contract, labeling such claims as "purely a figment of the author’s imagination and not factual."

"The documentary represents a set of misrepresentations, false claims, and a general lack of understanding of the entire operations of the company. We challenge Fourth Estate to produce any contract anywhere that is for a 10-year period. The 5th PPA Board at its 46th Board meeting in a letter referenced PPA/CEO/09/2286/23 approved a contract duration of five (5) years," the statement read.

SML clarified that its engagement with the Ghana Revenue Authority (GRA) is based on a "risk-reward contract," emphasizing that GRA does not make any financial commitment in the investment chain, and SML is not exempted from duties and taxes.

Addressing the allegation of a $100 million annual payment, SML emphasized that its upstream operations have not commenced, and therefore, no revenue has been generated. The company pointed out that the $100 million per year payment allegation is entirely fictional.

The controversy surrounding the contract has led to calls from the Minority in Parliament for the immediate suspension of the contract between the Finance Ministry and SML for revenue assurance services.

Read the full statement by SML below:



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