The Ghana Revenue Authority (GRA) has affirmed that its board and management followed the right processes in procuring the services of Strategic Mobilisation Ghana Limited (SML).
In a statement issued on Wednesday, the GRA noted that “The Contract is for five (5) years and is performance-based and approved under Section 40 of the Public Procurement Act, Act 663, 2003.”
This follows the Fourth Estate’s report released on Monday, indicating that SML had been awarded a 10-year contract and that it takes $100 million annually from the contract.
The Fourth Estate also said its investigations have disproved wild claims by SML Company that it had helped save Ghana billions of cedis that would have been lost in the downstream petroleum sector but for its intervention.
GRA also noted that the consolidated contract, which is a risk-reward contract, seeks to bring efficiency in Revenue Assurance Services provided to GRA.
“SML per the contract is required to provide resources for the execution of the contract. By implication, if there is no value addition, SML is not paid. In short, the principle of risk and reward is the fulcrum of the contract,” it added.
READ THE FULL STATEMENT FROM GRA HERE