Strategic Mobilisation Ghana Limited (SML) has clarified that it fully financed all its projects under the revenue assurance contract with the Ghana Revenue Authority (GRA) without any financial support or guarantees from the government.
Speaking at a press conference on Friday, November 7, SML’s lawyer, Cephas Boyuo, refuted claims that the government had borne any cost or risk associated with the company’s operations, stressing that SML’s payments were entirely performance-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 risk. 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.
Source:Lovinghananews.com
