President John Dramani Mahama has issued an order for the immediate cancellation of all contracts awarded to Strategic Mobilisation Ghana Limited (SML). This decisive action follows the completion of an investigation conducted by the Office of the Special Prosecutor into the agreements. The scope of the cancellation is broad, impacting SML’s contracts across the downstream petroleum sector, the upstream petroleum sector, and the mining sector. These contracts were significant as they entitled SML to fixed revenue streams, with the initial five-year consolidated deal valued at over $500 million, subject to a potential five-year renewal.
The President’s directive fulfills a key campaign promise made during the 2024 election cycle, where he stated that the incoming National Democratic Congress (NDC) administration would not uphold the controversial agreements. The deals being terminated were reportedly masterminded during the tenure of the former Finance Minister, Ken Ofori-Atta, who is now described as a fugitive. This immediate halt to the lucrative arrangements brings to an end the revenue guarantees previously secured by the company across critical segments of the nation’s resource economy.
The SML Saga Sankofaonline’s view
Journalists who were involved in investigating the details of the agreements publicly acknowledged the President’s action. Specifically, colleagues Adwoa Adobea-Owusu and Evans Aziamor-Mensah thanked President Mahama for acting on the findings and upholding his commitment to rejecting the deals deemed dubious by the investigative team.
Ruth Abla ADJORLOLO
