Sometimes, you just know when it’s time. Maybe you’ve built something beautiful, and now you’re ready to pass it on. Maybe life’s calling you in a different direction. Maybe you’re chasing peace or new challenges. Whatever the reason — selling your company in The Gambia is a serious move, and it deserves a thoughtful, fully human approach. This isn’t just a transaction. It’s the handing over of your blood, sweat, and vision. Here’s the full breakdown, step-by-step, human to human.
Get your house in order
Before anything else, take a breath and look inward. Your company — is it clean? Is it tidy? Not physically, but on paper. This means your financials need to be straight. Balance sheets, profit-and-loss statements, tax filings, debt records, and employee contracts — all need to be up-to-date and honest.
Buyers aren’t just buying your logo and furniture. They’re buying your history. So if there’s clutter, clean it up. If there’s confusion, sort it out. You’ll save yourself stress and build trust before you even meet a buyer.
Company valuation
This part stings a little for some owners — pricing your company. It’s like putting a number on your baby. But it’s essential. You can’t sell what you can’t define in value.
Most people in The Gambia either hire a local financial consultant or business broker to do this, or they lean on trusted accountants. The process considers your net profit, your assets, goodwill, intellectual property, brand reputation, future earning potential — and of course, your industry and market conditions.
A basic business valuation can cost GMD 10,000 to GMD 30,000, depending on complexity. It’s money well spent. It helps you set a fair price — one that honors your work without scaring buyers off.
Find the right buyer
This is delicate. You don’t just want anyone taking over what you built. Maybe you want someone who shares your vision, or someone with experience to take things further.
In The Gambia, there are a few routes people usually go:
- Private networks (friends of friends, business circles)
- Business brokers
- Online platforms (local classifieds, business listing websites)
- Word of mouth (still powerful, still real)
Be discreet at first. You don’t want to spook employees, clients, or partners before a deal is close. Keep things close to your chest until you’re ready.
Letter of Intent (LOI)
Once a serious buyer is on board, they’ll submit a Letter of Intent. This isn’t binding, but it’s a formal expression of interest that says: I’m serious, here’s my offer, and here are the terms I’m proposing.
Review it carefully. Don’t rush. This is where negotiation truly begins. You may go back and forth a few times — on price, payment terms, included assets, transition periods, and so on. That’s completely normal.
Due diligence
Once the LOI is signed, things get real. The buyer will start due diligence. This is a deep dive into your business — legal documents, contracts, accounts, taxes, licenses, customer lists, liabilities, and staff arrangements.
It can feel invasive, even frustrating. But this is part of the process. Be transparent. Be organized. Be ready. The smoother this goes, the faster the sale closes.
Drafting the sales agreement
Now it’s time to put it all in black and white. You’ll need a lawyer — a good one. You’ll sit down and draft the Share Purchase Agreement (SPA) or Asset Purchase Agreement, depending on the kind of sale you’re making.
This legal document will include:
- Final purchase price
- Payment structure (lump sum or installments)
- What’s included in the sale (shares, assets, licenses, client lists)
- Timeline for transfer
- Liabilities being assumed
- Non-compete clauses, if needed
Legal fees in The Gambia for this can range from GMD 15,000 to GMD 50,000, depending on the complexity. Don’t cut corners here. This is your protection.
Government filings and approval
Now comes the official part. You’ll need to notify:
- The Registrar of Companies
- The Gambia Revenue Authority (GRA)
- Any relevant licensing bodies or local councils
This step ensures your name is legally removed from ownership and all tax and regulatory records are updated. The cost for this paperwork is usually minimal — GMD 1,000 to GMD 3,000, excluding any license transfer fees that may apply.
Informing employees and clients
This step is emotional. It’s real. You’ve got a team. You’ve got loyal customers. Telling them you’re moving on isn’t just about professionalism — it’s about respect. Be honest, be kind, and make sure everyone understands what the change means and how they’ll be taken care of.
Transition period
Some deals require you to stay on for a few weeks or months to help with the handover. This helps ensure continuity and prevents chaos. Set boundaries, but be present if asked. It’s the last piece of your legacy.
Final thoughts
Selling your company in The Gambia is more than just a business move — it’s a deeply human one. It’s letting go of something you built with your own hands, trusting that it will keep growing in someone else’s. Take your time. Lean on good people. Protect yourself. And when it’s all done, give yourself a quiet moment to appreciate how far you’ve come. You earned it.
You may also find these articles helpful
Types of legal business structures in the Gambia
Guide on Company Registration in the Gambia
Guide on Company Registration in Gabon
