Business

We don’t have 10yr contract with govt; $100m deal claim false – SML

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Strategic Mobilisation Ghana Limited (SML) has debunked claims of being awarded a 10-year contract duration, insisting that it has been given a 5-year contract instead.

SML further dispelled claims that it takes $100 million annually from its contract.

The Fourth Estate team, in its documentary, alleged that SML has been awarded a 10-year contract.

However, the company, in a statement, challenged Fourth Estate to produce any contract that indicates it has been awarded a 10-year contract.

SML also vehemently denied being paid $100 million per year, stressing that it is ‘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.”

“Again, it’s not true that SML takes $100 million annually from its contract. The Upstream operations of the company have not yet begun, and no revenue has been realized. No monies have been paid to SML; the $100 million per year payment to SML that has been alleged is purely a figment of the author’s imagination and not factual.”

SML clarified that its engagement with the Ghana Revenue Authority (GRA) is “solely a risk-reward contract.”

“GRA invests nothing in the entire investment chain. There is no cost commitment from the GRA. SML is not exempted from the payment of duties and taxes.”

According to the company, its charging formula is standard in the industry, and the same is being used by other service providers in the industry.

The Minority in Parliament has called for the immediate suspension of the contract between the Finance Ministry and SML for revenue assurance services.

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