30.2 C
City of Banjul
Wednesday, April 17, 2024
spot_img
spot_img

Court orders Gambia to pay over £20M for shrimp farms seized by Jammeh

- Advertisement -

The Gambia Government has announced that it has lost a litigation to the owners of a shrimp farming business in Pirang and Sanyang and has been ordered to pay over £20 million.

A statement issued by the government spokesman over the weekend said the verdict was delivered by the Paris-based International Centre for Settlement of Investment Disputes (ICSID).

On 3 June 2015, then president, Yahya Jammeh seized the West African Aquaculture Limited (WAA) shrimp farms in Pirang and Sanyang belonging to Mr and Ms Hansson.

- Advertisement -

“[I]n the wake of the change of government in 2017 followed by unsuccessful negotiations, WAA’s proprietors referred the matter to the ICSID for arbitration. After almost six years of deliberations, the tribunal ruled that former president Jammeh’s actions were unlawful and ordered The Gambia Government to compensate WAA £8,700,233 for damages. In addition, an 8% interest on the said sum compounded annually from 3 June 2015 to the date of payment plus cost and legal fees. The total award stands at more than £20 million,” the government statement detailed.

It added: “Crucially, this case exposes the consequences of Jammeh’s reckless disregard for the rule of law and his arbitrary decisions that continue to negatively haunt the current administration. In light of this development, The Gambia Government is considering various options including, but not limited to appealing the tribunal’s decision…”

Join The Conversation
- Advertisment -spot_img
- Advertisment -spot_img