By Fatou Dahaba
Alpha Kapital Advisory, the Gambian boutique financial advisory firm tasked with managing the sale of properties forfeited by former President Yahya Jammeh, has outlined a rigorous and transparent methodology designed to uphold the integrity and accountability of the asset sales in its first appearance at the National Assembly select committee hearing in Banjul.
Speaking before the Special Select Committee on the Sale and Disposal of Assets Identified by the Janneh Commission on Wednesday, September 10, 2025, the firm’s chairman, Alpha Barry, provided a comprehensive overview of the structured process, addressing challenges and emphasizing operational efficiency.
“The size of the team wasn’t critical, but competence and integrity were essential,” Barry told the committee, explaining how Alpha Kapital carefully selected staff to execute the high-stakes assignment. He said the firm collaborated closely with public institutions, including the Office of the Sheriff, the Gambia Police Force, and the Ministry of Lands, to identify and secure properties, some of which were occupied by squatters or public officials.
In cases where properties were unlawfully occupied, authorities intervened to remove occupants, while families were given adequate time to relocate, Barry noted.
Barry told the committee that the sales process was methodical and transparent, designed to prevent irregularities and ensure public trust.
Assets identified by the Janneh Commission, established to investigate financial misconduct during Jammeh’s 22-year regime, were first approved for sale by a ministerial subcommittee.
Following approval, he said, Alpha Kapital advertised the properties in three local newspapers and on its official website to attract prospective buyers. “Bids could be submitted either physically at designated offices or through secure online platforms… All online bids were password-protected to ensure confidentiality,” Barry explained, adding that passwords were only revealed during the bid-opening process to safeguard against vulnerabilities.
He said to enhance transparency further, bid envelopes were opened in the presence of the Attorney General and Solicitor General, who verified the authenticity of submissions before evaluation and awarding. This rigorous approach, he added, aimed to eliminate any potential for favoritism or manipulation, ensuring that the process adhered to the highest standards of accountability.
For specialized assets, such as shares in GAM Petroleum and properties under Royal Atlantic, he explained that Alpha Kapital implemented additional safeguards.
“Interested investors were carefully shortlisted and required to sign non-disclosure agreements before gaining access to a virtual data room containing detailed asset information. Evaluations for these assets involved consultations with relevant agencies, including the Gambia Tourism Authority and GAM Petroleum’s CEO, to assess bidders’ operational and development plans. This ensured that buyers were not only financially capable but also aligned with the strategic interests of the assets.”
Despite the structured approach, Barry acknowledged challenges encountered during the process. Some properties, including Hamza Barracks and a Carnegie site occupied by the Gambian army, required intervention to resolve disputes. ‘In certain instances, sales were canceled due to unresolved issues.’ Barry emphasized that the firm took decisive action to address such obstacles, prioritizing compliance with legal and ethical standards.
He informed the committee that all proceeds from completed sales were deposited into designated bank accounts, with receipts issued to buyers and title deeds or bills of sale provided to finalize transactions.
The sale of Jammeh-era assets is a critical component of Gambia’s efforts to recover wealth amassed through corruption during the former president’s tenure. The Janneh Commission, established in 2017, identified numerous properties and assets linked to Jammeh, who fled into exile in 2017 following his electoral defeat.
As the committee continues its oversight, Alpha Kapital’s detailed account provides a roadmap for ensuring that future asset sales adhere to principles of fairness, transparency, and accountability, contributing to Gambia’s broader journey toward economic justice and governance reform.
