Seychelles: President Ramkalawan Leads High-Level Dialogue on Business Financing Solutions

President Wavel Ramkalawan convened a pivotal meeting this morning at State House, bringing together senior representatives from the Bankers Association, the Central Bank of Seychelles, and the Ministry of Investment, Entrepreneurship and Industry. The forum aimed to tackle pressing challenges surrounding business financing and to explore innovative solutions for local enterprises.

The discussions centered on improving access to affordable funding, with a particular focus on empowering small and medium enterprises (SMEs). Participants evaluated a range of financing mechanisms to bolster business growth and economic resilience across the Seychelles.

Several actionable proposals were tabled during the meeting, which will undergo further consultation with commercial banks and the Ministry of Finance. This dialogue represents a significant first step in a collaborative effort to address the capital access barriers faced by local investors.

To sustain momentum, a follow-up session has been scheduled for early 2025. This expanded forum will include input from a wider array of stakeholders, such as the Ministry of Finance, commercial banks, and the Chamber of Commerce, ensuring a comprehensive and inclusive approach to formulating viable solutions.

Among the key attendees were Vice President Ahmed Afif, Minister for Investment, Entrepreneurship and Industry Devika Vidot, First Deputy Governor of the Central Bank Brian Commettant, Principal Secretary for Investment Michael Nalletamby, and CEOs from pivotal institutions including the Seychelles Investment Board (Anne Rosette), Enterprise Seychelles Agency (Lisa Lautoy), and the Development Bank of Seychelles (Jean Preira). Also present were Audrey Pothin, Chairperson of the Seychelles Bankers Association, and Karine Benstrong of the Seychelles Investment Board.

This coordinated initiative underscores the government’s commitment to fostering a supportive financial ecosystem for the growth and sustainability of local businesses.

Distributed by APO Group on behalf of State House Seychelles.