The collaborative efforts between the Customs Division of the Ghana Revenue Authority (GRA) and the revenue and assurance audit firm, Strategic Mobilisation Ghana Limited (SML), have resulted in an impressive boost to Ghana's revenue by an extra GH¢3 billion over the past three years.
The significant additional revenue, which would have otherwise been lost to the state, was achieved through the digitalization of the measurement and reporting of petroleum product supplies from over 20 depots across the country by SML Ghana.
Since the initiation of the GRA/Customs and SML Ghana partnership in 2020, an average monthly volume of 400 million litres of petroleum products was recorded by SML meters, contributing to the extra revenue of GH¢3 billion between June 2020 and June 2022.
This achievement is reflected in the outstanding performance of the Customs Division of GRA, surpassing its target by mobilizing GH¢22.26 billion as opposed to the set goal of GH¢20.20 billion, exceeding expectations by GH¢2.06 billion.
The revelation came to light during a recent stakeholder engagement hosted by SML Ghana in Tema, where discussions focused on new initiatives and sought input on further enhancing the country's revenue.
In the fiscal year of 2022, GRA mobilized GH¢75.5 billion in domestic revenue, surpassing its target by GH¢3.60 billion and marking a 5% increase over the previous year's target of GH¢71.94 billion.
The successful collaboration with SML Ghana has contributed significantly to this accomplishment.
At the stakeholder engagement, SML Ghana presented the latest technologies employed in the sector, including the scanning of waybills and purchase orders, real-time reconciliation with meter volumes at depots, and the introduction of level sensors to monitor, manage, and measure petroleum stocks.
Christian Tetteh Sottie, Managing Director of SML Ghana, emphasized that the collaboration aimed to showcase how technology is being leveraged to improve the sector, dispel misconceptions, and establish a solid foundation for the partnership.
The next phase of the collaboration involves the installation of level sensors at all depot sites, a process currently underway. This move aims to eliminate manual stock level checks and further enhance efficiency.
Meshach Kwame Danso, Acting Head of the Petroleum Unit at GRA's Customs Division, praised the close collaboration, stating it was a step in the right direction to improve revenue collection efficiency and government accountability.
Sampson Anim, Assistant Commissioner of Petroleum Downstream at GRA Customs Division, lauded SML Ghana for its transformative technology, stating that the Electronic Metering Management System (EMMS) had shifted the unit from a manual to an electronic auditing system, providing real-time assurance and accuracy in revenue figures.
The success of SML Ghana's impact was acknowledged, emphasizing its role in maintaining transparency, enhancing the sector, and increasing revenue for the government. Danso called for more training sessions to keep up with evolving trends and information.
The SML Ghana system, known as the Electronic Metering Management System (EMMS), digitizes the entire process chain, offering end-to-end audit and assurance to GRA in the downstream petroleum sector.
SML, as a wholly-owned Ghanaian company, operates with strong financial backing from investors across various industries in Ghana.
The organization's impact is evident through its specialized divisions in Tema and Osu, focusing on the audit of downstream petroleum products and trade transaction pricing and business process audits, respectively.
