Africa-Press – Gambia. Alpha Barry, the receiver of assets seized from former president, Yahya Jammeh, has said the government is receiving millions in dividends from shares of former president, Jammeh, at GT Bank. He said these were shares belonging to KGI.
In his testimony yesterday, Barry informed lawmakers that following the hiring of Alpha Kapital as the receiver of the frozen assets, he had a meeting with the chief executive officer of GT Bank informing him of his appointment but the CEO said he needed confirmation from the government which was subsequently provided by the Attorney General’s Chambers.
Barry said he then worked with the bank’s CEO to establish the outstanding dividend which they eventually paid to the government.
“Subsequent to that, we conducted a valuation and the bank also brought to our attention a clause of offering the shares to existing shareholders before offering it to outsiders.
We did an offer but we did not get the price that we anticipated so the shares are still available,” he said. Mr Barry said Jammeh had 4,767,556 at D2.78 to D3.20 bututs per-share.
When asked to explain why it took his firm six years to dispose of these shares, Barry replied: “This is a bank that is fairly strong and performing. The challenge is to find a buyer because it has to be somebody within the existing shareholders and the existing shareholders have not offered sufficient amounts.”
He said they are currently challenged in trying to address certain bottlenecks regarding payment of fees of the assets but once that is activated there will be a second valuation as well as discussions with existing shareholders and the bank.
“If we do not have a breakthrough, we will have to go public but that will be subjected to the approval of the ministerial sub-committee.”
Asked how much was the outstanding dividend, Mr Barry said; “We do follow when dividends are due. In fact there is one that is due for payment but the bank is reluctant to pay because of these parliamentary proceedings but the attorney general is going to write to them,” he said.
Barry confirmed that the dividends are paid directly into an Ecobank account and then transferred to the government account at the Central Bank.
Asked how often these transfers are done, he said it depends on what is collected. “The government is always in need of money. From the top of my head, I know we have transferred an amount of D100 million. We also transferred an amount of D250 million and there was an amount of D340 million but now it is trickling down and the last amount was D15 million made on 31st August 2025.”
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