President John Dramani Mahama has directed the immediate cancellation of all contracts between the Government of Ghana and Strategic Mobilisation Limited (SML), following the conclusion of investigations by the Office of the Special Prosecutor (OSP).
The cancellation affects SML’s engagements in the downstream petroleum, upstream petroleum, and mining sectors, contracts that entitled the company to fixed revenue. The consolidated deal, valued at over $500 million for the first five years and renewable for another five, will no longer be implemented under the current administration.
The decision fulfills a key 2024 campaign promise by President Mahama and the National Democratic Congress (NDC), who vowed not to recognize or continue what they described as “shady” SML deals.
Journalists Adwoa Adobea-Owusu and Evans Aziamor-Mensah, who played pivotal roles in exposing the alleged irregularities surrounding the SML contracts, have expressed appreciation for the government’s swift action.
“I thank President Mahama for keeping his word to the people of Ghana and ensuring accountability in public financial management,” they noted in a statement, adding that the cancellation reinforces the administration’s commitment to transparency and fiscal discipline.
The SML contracts had sparked widespread public debate over their legality and value for money, with many civil society organizations and industry experts calling for a full-scale review. The latest move by the President is seen as a step toward restoring confidence in the management of the nation’s extractive and petroleum sectors.
Written By Bernard Nii Ade Quaye | Kobby Kyei News
