Strategic Mobilisation Ghana Limited (SML) has clarified that it solely financed all its projects under the revenue assurance contract with the Ghana Revenue Authority (GRA), without any financial backing or guarantees from the government.
Addressing a press conference on Friday, November 7, SML’s solicitor, Cephas Boyuo, dismissed claims that the government bore any cost or risk related to the company’s operations.
He emphasised that payments to SML were strictly tied to performance, underscoring that the company’s model was self-funded and outcome-based.
“SML funded 100% of its projects from its own resources. SML paid all import duties, VATs, levies, and statutory charges exceeding GH₵500 million, and this excluded actual investments,” Mr. Boyuo stated.
He added that the company assumed all operational and financial risks, making it inaccurate to suggest that the government had any financial exposure.
“So if you want to rush to terminate, you will pay; we’re there. The government didn’t pay a pesewa. The government didn’t guarantee anything. The government didn’t provide capital or assume any risks.
“The government had zero exposure. Payments to SML were not guaranteed, and they were not fixed or automatic as mentioned. They were strictly performance-based. It’s untrue that SML didn’t do anything,” he emphasized.
The comments come in response to findings by the Office of the Special Prosecutor (OSP), which alleged that SML’s operations lacked transparency and technical competence in its dealings with the GRA.
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