By Hadram Hydara
The International Centre for Settlement of Investment Disputes has ruled that the government of The Gambia must pay West African Aquaculture Limited (WAA) more than £8 million in compensation.
This sum will accrue an 8% annual compounded interest from June 3, 2015, until the payment date. Additionally, costs and legal fees are included, bringing the total compensation for damages to £20 million.
The legal issue pertains to the expropriation of the WAA Shrimp Farming business, owned by Mr and Ms Hansson, in the West Coast villages of Pirang and Sanyang by former President Yahya Jammeh on June 3rd, 2015.
The Gambia Government says it is “considering various options including, but not limited to appealing the tribunal’s decision.”
Following this development, the government of The Gambia has confirmed that it is compensating for similar cases as awarded by international tribunals.
“The Barrow government still paying damages for similar cases awarded by international tribunals against the Government among them, ALIMANTA S.A., former operators of The Gambia Groundnut Corporation whose foreign management were arbitrarily arrested and expelled by Mr. Yahya Jammeh in 1998,” the presidency says in a press release.
In the wake of various legal disputes and compensations made by the government over time, the Barrow Administration has advised government officials to consistently act in good faith and maintain respectfulness while performing their official duties.
“As the Government acknowledges these colossal financial losses, President Adama Barrow, determined to guard against executive overreach particularly as they relate to operations of international businesses in The Gambia, reminds Government officials and Agencies to be always guarded by good faith, restraint and respect for the due process in the execution of their official duties.”
