Marking five years of operations, SML revealed this next phase of growth during a launch event where Dr. Yaa Serwaa Sarpong, Director of Support Services, recounted the company’s journey from subcontractor to a trusted leader in real-time revenue monitoring.

“Our story began with a bold vision: to support governments in safeguarding national revenue through end-to-end audit and revenue assurance services,” she noted.

SML began operations in 2018 and, by 2020, had secured two major five-year contracts from the Ghana Revenue Authority (GRA) for transaction audits and downstream petroleum monitoring.

The GRA has since consolidated all of SML’s audit services—including upstream and solid minerals—under a unified contract approved by the Public Procurement Authority (PPA).

So far, SML’s digital monitoring systems have contributed to GH¢20 billion in additional tax revenue by raising the average monthly taxable petroleum volumes from 208 million to 450 million litres between May 2020 and December 2024.

SML’s model differs from typical public-private partnerships by operating on a risk-reward basis, with zero upfront government financing. “SML fully bears the cost of investment,” Dr. Sarpong emphasized.

The company now aims to scale this model across Africa. “African countries lose about US$90 billion annually to illicit financial flows. SML is ready—with the tools, track record, and innovation—to support a continental transformation,” she added.

Experts like Professor Douglas Boateng and COPEC’s Duncan Amoah have endorsed the platform’s potential to reshape revenue governance in Africa’s extractive industries, citing it as a first-of-its-kind innovation in any emerging economy.

As it celebrates its fifth anniversary, SML paid tribute to the many partners and institutions that have supported its journey.

“This milestone is not just about systems and numbers; it’s about perseverance and a united vision for Ghana’s future. We wholeheartedly recommit ourselves to excellence, to innovation, and to the shared prosperity of our nation, Ghana

,” Dr. Sarpong added.

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