By Fatou Sillah
Alpha Barry, Co-Partner of Alpha Kapital Advisory and Receiver of former President Yahya Jammeh’s assets, continued his testimony before the National Assembly Special Select Committee on the sale and disposal of Jammeh’s property on Thursday.
Barry testified on the disposal of vehicles linked to Jammeh, revealing that a total of 19 vehicles were sold, generating over D3 million.
According to Barry, the vehicles were sold in three separate batches, each with distinct circumstances and valuation methods.
He explained that the first batch of five vehicles was advertised in local newspapers beginning 11 September 2019, with a bidding deadline of 19 September 2019. The vehicles, which included Nissan Pathfinders and a Kia Sorento, were assessed and valued by MM Cooker and Sons. Twenty bids were received from 11 bidders, with most vehicles sold above their reserve prices, although a Range Rover in this batch received no bids.
“The total reserve price for these vehicles was 2,075,000, and the amount received was D2,168,000,” He Said.
The second batch comprised fully depreciated vehicles previously owned by KGI International and parked behind the Futurelec building. These vehicles were deemed only suitable for spare parts, so potential buyers were approached directly, mainly by garages. Two offers were received, with the highest bid totaling D310,000.
“These were vehicles that could only be used for spare parts, so garages were approached, and the highest bidder was awarded,” He Said.
The third batch consisted of ten vehicles formerly used by BPI, the previous managers of Ocean Bay. These vehicles were sold directly to West African Leisure Group, the new managers operating under Social Security, for D1 million. Barry said this batch was sold through direct negotiation rather than public advertisement, as the vehicles were still operational for hotel use. Additionally, four remaining vehicles were assessed by Momodou Mambureh and sold for D385,000.
Barry emphasized that the sales process was conducted transparently, involving advertisement, bid collection, evaluation, and formal notification of successful bidders. He noted that most of the vehicles were in poor condition, which is why mechanics and garages were the primary bidders. Only eight of the 19 vehicles were roadworthy. He also highlighted that one Range Rover remained unsold due to its age and the extensive repairs it required.
“I don’t think anybody would buy it because it is an old model requiring too much work,” He Said.
When questioned by Counsel Kah about the inclusion of vehicles still in active hotel use in the sale, Barry explained that the vehicles were owned by BPI Tourism, a separate legal entity from the hotel. Once the management lease ended, the vehicles reverted to receivership.
“These vehicles were owned by BPI, a separate legal entity from the hotel. When their lease terminated, the assets reverted to receivership,” He Said.
Barry confirmed that the total proceeds from all vehicle sales exceeded D3 million, with the sales process encompassing public advertisement, negotiations, and professional valuations.