At least half a dozen subsidiaries of a supposedly multi-million dollar company in The Gambia “have not taken off the ground yet,” according to a shareholder, Ansumana Jammeh.
Royal Africa Holding has a microfinance institution, airline, media agency and an investment firm as subsidiaries but none of it was operational.
Ansumana Jammeh is a minority shareholder of the company and the brother of Gambia’s ousted leader, Yahya Jammeh, who is the subject of a probe into mismanagement of state resources.
The probe has so far seen the freezing of all companies associated with the former ruler, including Royal Africa Holding and all of its subsidiaries.
Every company affiliated with Royal Africa Holding that Ansumana was asked about, he responds: “It has not operational yet….. It has not taken off the ground yet.”
The Chief Executive of the company, Ebrima Sanyang has disavowed Jammeh and distanced his company from the illicit activities of the former ruler.
Sanyang was a supporter of Jammeh and is the self-described son of the former strongman. He had clashed with activists, who were bent on seeing the end of Jammeh’s reign.
Activists accused Sanyang and President Jammeh of using Royal Africa Holding to scam unsuspecting investors of millions of dollars, accusations that Sanyang strongly refuted.
Jammeh is accused of emptying the Gambia’s treasury after his elections defeat and then fleeing to Equatorial Guinea. His domestics have been frozen by the Justice Department.
His close associates and business partners are now facing the Janneh Commission, which is seeking to unearth the extent to which he had his hands deep into the state coffers.