By: Fatou Krubally
The National Assembly yesterday heard gripping testimony from Alpha Kapital regarding the ongoing challenges in the sale of properties identified by the Janneh Commission.
The receiver detailed a series of obstacles ranging from legal complications to uncooperative occupants, shedding light on why several high-profile state assets seized from former President Yahya Jammeh remain unsold years after being put on the market.
Speaking before the Special Select Committee, Alpha Kapital highlighted multiple cases where properties were advertised, bids were received, and yet sales were stalled or cancelled. In Yarambamba, for instance, four properties had been sold, but buyers were unable to take possession due to squatters. “The properties were sold, but the buyers couldn’t access them. Funds had to be returned,” a representative explained. These properties remain listed on the government’s website pending further action.
Similar complications occurred with properties in Hamzabad and Carnaby, where occupants, including army personnel, refused to vacate. Buyers who had paid in full were forced to have their money refunded, delaying the sale process further. In other cases, bids were received but later requested to be transferred to third parties, raising questions about oversight and the verification of buyers.
Alpha Kapital also addressed issues with the collection and management of rental income from state-owned complexes such as Future Light, Traffic Light, and Sindola. While tenants were generally compliant, delays and disputes occasionally arose, complicating administrative control. In a move to improve transparency, the receiver described ongoing collaboration with the Auditor General’s office, providing full access to bank statements and property sale records to clarify queries and ensure accountability.
The committee also probed Alpha Kapital on properties where sales were initially advertised but never executed, citing the need for formal approvals and valuations before transferring ownership. Legal counsel prepared the necessary documentation, but delays in payments and administrative processes at the land office stalled some transactions.
“Some of these assets belong to former officials or associates, and sensitivity around ownership complicates verification,” Alpha Kapital testified. He emphasized that all funds collected were accounted for and that the receiver’s office was acting under the explicit instructions of the Attorney General.
The testimony underscores the intricate challenges of disposing of former state assets, where legal, administrative, and human factors intersect. The Special Select Committee will continue its review, focusing on properties that remain unsold or embroiled in litigation, as the government seeks to finalize the disposal of assets identified by the Janneh Commission.
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By: Fatou Krubally The National Assembly yesterday heard gripping testimony from Alpha Kapital regarding the ongoing challenges in the…
The post Alpha Kapital Exposes Hurdles in Jammeh Asset Sales appeared first on .
