The Gambian government has sold assets seized from former President Yahya Jammeh, generating a staggering 1,421,995,100 Gambian Dalasi (GMD) in revenue, according to a detailed report released by the state. The sales, part of an effort to recover wealth allegedly amassed through illicit means during Jammeh’s 22-year rule, surpassed guide prices by 507,733,600 GMD, a 55.5% increase, with significant gains driven by high-value properties and shares.
The asset sales, categorized into phases and types, included properties, livestock, tractors, vehicles, and scrap items. While the documented total covers only categories with clear financial summaries, additional revenue from individual vehicle and scrap sales likely pushes the overall figure higher. The report highlights the government’s approach to liquidating Jammeh’s sprawling portfolio, with the largest financial windfall coming from the “Other Properties” category, which alone accounted for 1,098,828,000 GMD in sales against a guide price of 654,806,500 GMD—a 67.8% increase.
Among the standout transactions was the sale of the Royal Atlantic property and shares in Gam Petroleum, which significantly boosted the revenue. Phase I properties, sold for 96,350,000 GMD against a guide price of 62,720,000 GMD, achieved a 53.6% increase. Phase III properties also performed strongly, fetching 129,100,000 GMD, a 15.9% rise over the guide price of 111,350,000 GMD. Phase II properties saw a more modest gain, with sales of 78,140,100 GMD, up 4.3% from the guide price of 74,915,000 GMD. However, not all categories exceeded expectations—returned properties sold for 9,875,000 GMD, falling 5.7% below the guide price of 10,470,000 GMD.
Beyond real estate, the sale of 725 cattle brought in 8,302,000 GMD, while 14 tractors sold to local councils added 1,400,000 GMD to the coffers. The report notes that vehicle and scrap sales, though significant, were recorded as individual transactions without aggregated totals, making it challenging to include them in the overall documented figure. Nonetheless, their contribution underscores the breadth of Jammeh’s former holdings, ranging from luxury assets to agricultural equipment.
The financial asset sales mark a significant milestone in The Gambia’s efforts to address the legacy of Jammeh’s regime, which ended in 2017 when he fled into exile following electoral defeat. The recovered funds are expected to bolster public coffers, potentially supporting development projects and reparative measures for victims of Jammeh’s rule. The government has emphasized transparency in the process, with the report providing a detailed breakdown of guide prices, sale prices, and percentage differences to ensure public accountability.
Analysts criticise the government’s handling of the sales, particularly its ability to secure prices below the values in most categories. The 55.5% overall increase reflects strong market demand for high-value properties and strategic negotiation by state authorities. However, questions remain about excluding vehicle and scrap sales from the total and whether additional assets linked to Jammeh remain unaccounted.
