Africa-Press – Ghana. Strategic Mobilisation Ghana Limited (SML) has generated GH₵ 20 billion in revenue for the government between May 2020 and December 2024 within the country’s downstream petroleum sector.
According to the company, over a four-year period, this amount was generated from 14 billion litres of petroleum products.
Dr Yaa Serwaa Sarpong, Director of Support Services at SML, made this known at an event to mark the company’s 5th anniversary celebrations in Accra.
The revenue generated year by year was GH₵ 2.5 billion in 2020, GH₵ 3.9 billion in 2021, GH₵ 3.8 billion in 2022, GH₵ 4.8 billion in 2023, and GH₵ 5.4 billion in 2024.
She said SML achieved this through real-time monitoring and digital surveillance across 25 fuel depots nationwide by strengthening institutional oversight and providing transparency in downstream petroleum operations.
The Director said prior to the organisation’s involvement in Ghana’s downstream sector, there was a recorded discrepancy of 3.2 billion litres of petroleum products.
She said this was due to differing records of petroleum products held by the Ghana Revenue Authority (GRA) and the National Petroleum Authority (NPA).
“Before the implementation of SML, from January 2019 to April 2020, both the NPA and GRA recorded the petroleum
products used in Ghana. The NPA recorded these products during lifting, and the GRA also recorded them for tax purposes.”
“However, the infographics show a significant discrepancy; the NPA recorded 6.387 billion litres, while the GRA recorded only 3.18 billion litres. This resulted in a gap of 3.206 billion litres between the two recordings,” she explained.
Dr Sarpong noted that the situation highlighted the potential consequences of not equipping the GRA with innovative solutions for accurate record-keeping.
She said SML’s innovative solution had helped to close critical revenue leakage gaps that were fast becoming a national security threat.
“Our innovation and its impact are proving to be not only forward-thinking but also a decade ahead of its time. Therefore, we at SML believe that it is only fitting to assert that SML is over 10 years ahead in the game of revenue assurance for tax mobilisation in Ghana,” she added.
She said the company’s successes in the downstream sector support its potential engagement in the upstream sector.
“It did not end there, in October 2023, a new milestone was reached and in recognition of our track record in revenue assurance through real-time monitoring, the GRA expanded our mandate once more, this time into the upstream petroleum and solid mineral sectors,” she said.
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