SML marks 5 years, expands revenue assurance to mining and upstream oil

Strategic Mobilisation Ghana Ltd. (SML) recently celebrated five years in the petroleum sector. The company is expanding its revenue assurance services into Ghana’s upstream petroleum and solid minerals sectors. SML has a strong track record in digitising fuel audits and reducing revenue leakages.

SML started operations in 2018 under a subcontract from the Ghana Revenue Authority (GRA). It has helped close gaps in taxable petroleum product volumes, boosting government revenue. “Our story began with a bold vision to support governments,” said Dr. Yaa Serwaa Sarpong, Director of Support Services at SML.

By 2019, SML became a primary contractor for the GRA. In 2020, it secured two five-year contracts for transaction audits and downstream monitoring. These contracts were approved by the Public Procurement Authority (PPA).

SML's systems integrate data from the GRA, National Petroleum Authority (NPA), and depots to improve tax collection. Data shows that SML increased taxable monthly petroleum volumes from 208 million litres to 450 million litres. This resulted in an additional GH¢20 billion in tax revenue from May 2020 to December 2024.

Dr. Sarpong noted that GRA can now meet its annual targets more easily than before. The gains continued even during economic disruptions like COVID-19.

The company replaced manual processes with real-time monitoring systems, improving compliance and accountability. “This has eliminated errors and strengthened controls,” Dr. Sarpong added.

SML's funding model sets it apart from other government contracts. “We bear all investment costs without government mobilisation,” she explained. In October 2023, GRA consolidated all of SML’s audit services under one contract approved by the PPA.

“This new era brings transparency and real-time oversight,” Dr. Sarpong stated about their technological innovations. She emphasized their commitment to excellence and innovation for Ghana's future.

SML also aims to expand beyond Ghana to combat illicit financial flows across Africa. According to the African Development Bank Group, Africa loses about US$90 billion annually due to these flows.

Duncan Amoah, Executive Secretary of COPEC, initially doubted SML’s effectiveness but changed his mind after visiting their facilities. He believes upstream operations could yield even greater returns than downstream ones.

Professor Douglas Boateng praised SML as a generational innovation that can reshape governance in Africa. He highlighted its potential for deployment across various countries beyond Ghana.

As it celebrates its fifth anniversary, SML acknowledges its partners who supported its journey toward success and innovation for Ghana's future.