An international ruling ordering Gambia to pay $33 million to foreign investors has been overturned.
The state described the ruling as a major legal victory.
Written by: Ayman Ragab
The Gambian government has announced the cancellation of an international arbitration ruling that required it to pay approximately US$33.2 million to foreign investors, in a move it described as a major legal victory that puts an end to a dispute concerning the seizure of a shrimp farm during the previous regime.
The Gambian presidency said on Tuesday that the annulment panel of the International Centre for Settlement of Investment Disputes (ICSID) had overturned the arbitration ruling issued in March 2024, which had ordered the state to pay compensation to investors.
The decision, issued on July 17, explained that the arbitration panel did not adequately demonstrate the legal basis proving the Gambian state’s consent to resort to arbitration, which the annulment committee considered a fundamental flaw affecting the arbitration panel’s jurisdiction, leading to the complete annulment of the ruling.
Origin of the conflict
The dispute stems from the seizure by authorities, during the previous president's term, of a shrimp farm belonging to foreign investors. In March 2024, an international arbitration panel ordered Gambia to pay approximately $33.2 million in compensation.
According to the presidency, President Adama Barrow, upon being informed of the ruling by Attorney General and Minister of Justice Daouda A. Jallow, directed that the decision be challenged “by all legal means,” a move that was unanimously approved by the Cabinet.
Gambia's defense was handled by a legal team that included Gambian lawyer Eddie Mo Fall and British lawyer Cherie Blair, the King's advisor at Omnia Strategies, with support from the Attorney General's office and legal experts.
Refund of approximately $213,000 in arbitration fees
The government confirmed that overturning the ruling would save the public treasury more than $32 million, in addition to recovering about $213,000 in arbitration fees, noting that these resources could be directed to vital sectors such as health, education and infrastructure.
Attorney General Daouda A. Jallow welcomed the decision, saying it reflected Gambia’s ability to effectively defend its interests before international judicial and arbitration bodies. He also praised President Barrow and the members of the legal team who had managed the case for nearly two years.
The government concluded its statement by affirming that it will continue to protect the interests of the state and public funds, while adhering to its international commitments and respecting the principles of justice and fairness in dispute resolution.
