Financial Holding company set up in Seychelles

Seychelles Nation, 27.02.2008

The Ministry of Finance has announced the creation of a holding company, the Societe Seychelloise d’Investissement (SSI).

This follows President James Michel’s announcement in his February 12 State-of-the-Nation Address that a holding company will be set up this year.

The main purpose of the SSI is to hold all participations of the Government of Seychelles in public and private enterprises.

“The creation of the SSI will help in meeting the development targets set up by the Government. It will be responsible for the management and commercialization of assets, shares and investments belonging to the State,” says a communiqué from the Ministry of Finance.

“In line with the President’s vision to double Seychellois wealth by 2017, the company, once operational, will sell some of its shares to the public,” adds the communiqué.

The chairman of the company’s board is Captain Guy Adam and the directors are Mr Ahmed Afif, Mr Jean-Paul Adam, Dr Peter Larose and Mr Albert Payet.