Strategic Mobilisation Ghana Ltd (SML) received GH¢720 million from the GH¢2.45 billion revenue raised through the Energy Sector Levy Act (ESLA) in its transaction with the Ghana Revenue Authority (GRA), according to a recently released KPMG audit report.
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The report highlighted that the GRA-SML deal resulted in an increase in volume liftings and tax revenue amounting to GH¢12.98 billion from May 1, 2020, to December 31, 2023.
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“Based on analysis using ESLA reported liftings as the pre-SML, the incremental reported volume that is attributable to the involvement of SML is determined as 1.70 billion litres for the period. This works out to a monthly average of 38.6 million litres per month.”
“The incremental revenue attributable to the involvement of SML is GH¢2.45 billion for the period.”
“The fee of GH¢720 million paid to SML for the same period constitutes 29.41% of the incremental tax revenue,” the report stated.
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