The Ghana Revenue Authority (GRA) has dismissed reports suggesting that Strategic Mobilisation Ghana Ltd. (SML), a private firm contracted to monitor revenue flows, has been granted authorization to extend its operations to Ghana’s upstream petroleum and solid minerals sectors.
In a statement released, the GRA described such claims as “inaccurate” and clarified that no such directive had been given for SML to resume or commence activities in those sectors.
“The Ghana Revenue Authority (GRA) has noted with concern reports in the media claiming that Strategic Mobilisation Ghana Ltd. (SML) has unveiled an expansion of its revenue assurance oversight to cover Ghana’s upstream petroleum and solid minerals sectors.”
The Ghana Revenue Authority (GRA)
The announcement follows recent publications in local media outlets, including Graphic Online and Business and Financial Times, which reported that SML had unveiled a broadened oversight role covering the extractive industries.
The regulator made it clear that SML’s activities in the upstream petroleum and mining sectors were suspended in April 2024, and that the moratorium remains in effect pending a full review.
“GRA has not instructed SML to activate nor resume operations under the 2023 Consolidation of Revenue Assurance Services Contract covering those sectors.”
The Ghana Revenue Authority (GRA)
The temporary halt in SML’s services was initiated amid growing concerns regarding the transparency and governance of revenue monitoring in Ghana’s natural resource sectors.
Critics have questioned the extent of third-party involvement in Ghana’s resource revenue management, raising concerns about potential conflicts of interest and the effectiveness of outsourced oversight mechanisms.
SML’s contractual arrangement with the government has drawn public scrutiny, prompting discussions about the firm’s influence on state revenue assurance and its regulatory limitations.
The company’s involvement was initially championed as a move to plug leakages in government revenue, particularly from petroleum transactions.
However, its foray into more sensitive upstream oil and mining operations raised red flags among industry watchers, civil society groups, and policy analysts, who have called for stronger regulatory oversight and public accountability.
GRA Commits to Revenue Integrity
The Ghana Revenue Authority reaffirmed its dedication to maintaining a transparent and accountable revenue monitoring system, reassuring the public that revenue oversight remains a priority.
“The Authority wishes to assure stakeholders… of its unwavering commitment to protect the nation’s revenue with integrity and transparency.”
The Ghana Revenue Authority (GRA)
The statement emphasized that any future adjustments to revenue monitoring mechanisms will be subject to careful review and due process, ensuring that Ghana’s natural resource wealth is properly accounted for and safeguarded.
Given the complexity of the nation’s extractive industries, stakeholders are calling for comprehensive sector-wide reforms to ensure fair and efficient revenue collection processes.
As the government continues its review of SML’s role, many await further clarity on how future revenue monitoring agreements will be structured to maximize state earnings and protect Ghana’s natural resource revenues.
With Ghana’s energy and mining sectors remaining key contributors to national revenue, the debate over third-party involvement in revenue monitoring is expected to persist.
As the review of SML’s activities progresses, the GRA’s position underscores the government’s intent to strengthen internal regulatory frameworks while ensuring that revenue mobilization efforts align with national interests.
For now, the suspension remains in effect, and any discussions on SML’s potential reactivation in the upstream petroleum and solid minerals sectors will hinge on the outcome of the ongoing government assessment.
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