SAP has partnered with GTZ (Deutsche Gesellschaft fur Technische Zusammenarbeit) GmbH, acting on behalf of the German Federal Ministry for Economic Cooperation and Development to support Ghana in meeting the global standard for transparency in the oil and mining industries as set by the Extractive Industries Transparency Initiative (EITI). SAP is donating an enterprise performance management (EPM) solution from its SAP BusinessObjects portfolio, which the Ghanaian Ministry of Finance will use to monitor and analyze payments and revenue flows from its hard minerals industry as well as from future oil and gas production. The solution will enable Ghana to efficiently quantify revenue flows to government and other stakeholders, identifying reasons for any shortfalls or overshoots.
SAP and GTZ took part in a two-day workshop in Accra on May 19 and 20 with the Ghana EITI National Steering Committee, a multi-stakeholder group that comprises representatives of the Ghanaian Ministries of Finance and Economic Planning, Lands and Natural Resources, and Energy, together with revenue agencies, mining companies, the Minerals Commission and representatives of Ghanaian civil society. The workshop agreed on project scope, governance and the implementation timeline, and nominated representative team members who will drive implementation over the next four months.
Ghana’s Deputy Minister of Finance, Seth E. Terkper stated, “The EITI process is a useful tool in augmenting the government’s efforts to improve existing structures on accountability and transparency. Successfully introducing an IT system to the EITI process will be a very significant addition to the process in Ghana.” Terkper added that the Ghana EITI process will tie in very well with the Ministry’s own agenda on Public Financial Management Reforms (PFM), particularly the Ghana Integrated Financial Management Information System (GIFMIS).
The support project for the EITI process in Ghana is closely connected to the GTZ Good Financial Governance program (GFG). Program manager Dr. David Nguyen-Thanh stated, “The immediate aim of our joint effort is to assist and speed up the EITI implementation in Ghana, thus helping to meet EITI’s standards for transparency in Ghana’s extractive industries. The project’s outcomes could also be relevant to other countries with a large extractive industries sector, so from our perspective it is an excellent opportunity.”
To improve financial oversight, SAP is providing the SAP® BusinessObjects(TM) Financial Consolidation application for budgeting, forecasting and reporting, together with SAP BusinessObjects business intelligence (BI) solutions. These applications give the world’s largest commercial and public organizations the insight, speed, agility and breadth of analysis needed to complete financial reporting cycles efficiently and in compliance with international accounting standards such as IFRS.
“SAP aims to not only help businesses run better, but help the world run better,” said Jim Hagemann Snabe, co-CEO of SAP AG and member of the Executive Board. “The Ghana EITI project is one such project where we’re pleased to bring both our software and our industry and business process expertise to help Ghana meet the global standard for transparency in the oil and mining industries.”