Benson Afful
Duncan Amoah, Executive Secretary of the Chamber of Petroleum Consumers (COPEC), believes Ghana’s upstream operations could unlock significantly more revenue than the downstream sector. After witnessing SML’s impact in the downstream sector, generating GH¢20 billion in four years, Amoah said: “If the downstream is able to give us GH¢20 billion within 4 years, I can assure the upstream can do three times more.”
Verification of Production Volumes
Amoah urged political leaders to prioritise verifying reported production volumes from international oil companies to maximise revenue potential.
SML’s Revenue Impact
SML’s operations have increased taxable petroleum volumes and generated over GH¢20 billion in additional tax revenue since 2020. The company’s Director of Support Services, Dr. Yaa Serwaa Sarpong, attributed this success to its technological systems and risk-based business model.
SML is expanding into upstream petroleum and solid minerals sectors, positioning itself as a potential solution to illicit financial flows across Africa. The company’s model, operating on a full risk-reward basis, sets it apart from conventional government contracts.
Expert Endorsement
Professor Douglas Boateng, a supply chain governance expert, praised SML’s platform as “a generational innovation” with the potential to reshape Africa’s revenue governance.
