We accrued GH₵14bn for govt not GH₵2bn – SML hits back at KPMG

Yaa Serwaa Sarpong, the Director of Support Services at Strategic Mobilisation Ghana Ltd (SML), has refuted certain figures in KPMG’s report concerning the revenue they generated for the government.

According to KPMG’s report, SML boosted the government’s tax revenue to GHS2.45 billion during the period under review.

“Regarding the downstream petroleum audit services, KPMG determined that there was an incremental volume of 1.7 billion litres and an incremental tax revenue of GH₵2.45 billion for the period under review,” KPMG stated in its report.

However, in an interview with Bernard Avle on Citi TV’s Point of View, Madam Yaa Serwaa Sarpong claimed that the government generated GH₵14 billion through their efforts, not GH₵2 billion as stated in KPMG’s report.

 

“KPGMG is saying we increased tax revenue by GH₵2.45 billion, if you go to the revenue account, we have performed GH₵14.8 billion and not GH₵2.45 billion. From May 2020 to December 2023, within that period, the yearly accumulation translates into the revenue,” she said.

She reiterated their objections to KPMG’s report that they partially fulfilled the contract.

“The volume of works we have done is more than what KPMG reported, we have been underrepresented. The reason why we said we object to KPMG’s observation is that if we partially delivered on our obligations, this is a proven service that led us to the downstream petroleum.”

In response to the report, President Akufo-Addo instructed the GRA and the Ministry of Finance on April 24 to renegotiate the revenue assurance contract with SML.

The President stressed that the renegotiation should be closely monitored and evaluated periodically to ensure it meets expectations.

President Akufo-Addo commissioned KPMG on January 2 to audit the contract between the GRA and SML.

Following the submission of its report to the president, it revealed that SML received a total of GH¢1,061,054,778.00 from 2018 to the present.