BUYERS OF JAMMEH’S SEIZED PROPERTIES REVEALED
Twenty-three individuals and 12 companies have shelled out over D1.1 billion to buy 44 properties belonging to former president, Yahya Jammeh, The Standard can reveal.
Jammeh was head of state of The Gambia from July 1994 to January 2017 when he was forced into exile after losing an election in December 2016.
Accusing him of grand corruption and systemic economic brigandage, in July 2017, the new government established a commission of inquiry which 20 months later submitted a report revealing that President Jammeh had acquired 281 landed properties out of which 61 were outright purchases from their owners.
In September 2019, the government issued a white paper which accepted the commission’s recommendations for Jammeh’s properties to be forfeited to the state and sold.
Appearing before the National Assembly last December, Justice Minister Dawda Jallow revealed that 44 properties belonging to President Jammeh and his close associates were sold for D1,148,997,985.
He however declined to publicly reveal the identities of the buyers and what they paid for what properties on the grounds of protecting their “privacy”.
Many Gambians including legal commentators like lawyer Lamin J Darbo, accused Minister Jallow of “erroneously employing privacy as a prophylactic against accountability”.
At the time, the erudite lawyer told this paper: “Without question, the minister was aware that politically, philosophically, ethically and legally his postulation was wrongheaded. The transaction implicates no legitimate privacy issues.”
The Standard learnt that following demands from some National Assembly Members, the Attorney General’s Chambers finally provided the list “in confidence” to the representatives around mid-March but it was given to them only a few days ago.
The national pension fund Social Security & Housing Finance Corporation, Gambia National Petroleum Company and Star Oil bought Jammeh’s shares at Gam-Petroleum for D551,250,000.
Balafon Company and Corendon Hotels bought Royal Atlantic for D110,051,885 while the Central Bank forked out D100,250,000 for the Futurelec property along Bertil Harding Highway. Gamfood Trading Company bought Gam Veg for D60 million and Shyben Madi bought the Kanifing Industrial Estate Garage for D33 million.
Jah Oil snapped a property on No 16 Kairaba Avenue for D41,750,000 and other “obsolete assets” in Brikama for another D7 million.
Muhammed Jah of QGroup bought back the former CFAO Supermarket in Bakau for D21 million and Jengdula Nightclub in the approaches to Bakau for D1.6 million. His bank, AGIB also bought the property at No 78A Hagan Street for D6 million.
GSM company Comium bought Jammeh’s shares in the telco for D5,750,000 while one Serign Gai bought four properties in Banjul and Senegambia Junction for a total D58.8 million.
A certain Fanta Touray bought two properties in Banjul for D19,150,000 while another woman, Catherine Jabang, bought two properties in Kotu and Kololi for D11 million.
Manex Ltd owned by Narendra Rajwani and Emkay Stores owned by Nandkishori Rajwani bought properties in Banjul for D15 million and D4 million respectively.
One Mahadi Touray also bought three properties on Banjul’s Hagan Street for a total D12.8 million, with importers Fouta Enterprise purchasing the property at No 72 Gloucester Street in Banjul for D12 million.
Editor’s note: For a full list of the buyers and reactions to this article, read tomorrow’s edition of The Standard.
Source: The Standard