SML challenges Fourth Estate’s 10-year contract claim and $100M annual payment allegation

Strategic Mobilisation Ghana Limited (SML) has vehemently denied allegations made in a documentary by the Fourth Estate team, which claimed that the company was awarded a 10-year contract and receives $100 million annually.

In a statement, SML challenged the documentary makers to produce any contract indicating a 10-year duration.

The company clarified that, according to the approval of the 5th Public Procurement Authority (PPA) Board, the contract duration is five (5) years, not 10. SML expressed concern about the misrepresentations in the documentary and urged the Fourth Estate team to provide evidence supporting its claims.

Furthermore, SML strongly refuted the allegation that it receives $100 million annually, labelling it as “purely a figment of the author’s imagination and not factual.” The company emphasized that its Upstream operations have not yet commenced, and no revenue has been generated. SML challenged the documentary makers to substantiate their claims with verifiable evidence.

SML also clarified its engagement with the Ghana Revenue Authority (GRA), stating that it operates under a “risk-reward contract.” The company stressed that GRA invests nothing in the entire investment chain, and SML is not exempt from the payment of duties and taxes. The company highlighted that its charging formula is standard in the industry, similar to other service providers.

The Minority in Parliament has called for the immediate suspension of the contract between the Finance Ministry and SML for revenue assurance services. The controversy surrounding the contract raises questions about the accuracy of the documentary’s claims and the need for a thorough investigation into the matter.

Read the full statement from the company.

SOURCE: DAILY MAIL GH

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