President Michel meets high level delegates of African Prosperity conference |11 November 2015

James Michel met three high level delegates of the African Prosperity Conference, at State House yesterday afternoon.

The conference is being held at Eden Bleu Hotel on Eden Island and has been organised by the Pan African Chamber of Commerce and Industry (PACCI) in partnership with the Seychelles Chamber of Commerce and Industry (SCCI). Present at the meetings were the chairman of the SCCI Marco Francis and the President’s diplomatic adviser, Ambassador Callixte D’Offay.

President Michel met the chief executive and president of PTA Bank, Admasu Tadesse. PTA Bank is the Eastern and Southern African Trade and Development Bank which has been active in Seychelles for almost a decade, through the financing of large projects such as Eden Island.

They discussed the collaboration of African businesses for the benefits of its peoples. 

Mr Tadesse also briefed the President about the positive developments in the bank’s partnerships with the Seychelles Pension Fund and the Development Bank of Seychelles, including the credit facilities that it has made available for Seychellois businesses through DBS.

They agreed that it is important for Africa to find a way to use its wealth and to generate it in a sustainable way.

The President also met the chairman of Badea’s board of directors and managing director of the Saudi Fund, Eng. Yousef Ibrahim Al Bassam. The President thanked Badea and the Saudi Fund for their continued support of various development projects in Seychelles, such as housing infrastructure for Ile Perseverance, the Maritime Training Centre, and the Seychelles Tourism Academy.

Mr Al Bassam commended Seychelles on its planning strategy and for being a committed partner in development.

They discussed future projects in the energy sector, infrastructure for the development of SMES and micro-finance projects.

The President met the director of Trade and Industry of the African Union Commission, Treasure Maphanga. They discussed the work of the African Union Commission to encourage the private sector to push for greater African economic integration, and the setting up of an African Business Council.

Ms Maphanga commended Seychelles for its leadership in promoting the Blue Economy agenda of the African Union. They agreed that the diversification of African economies lies in the sustainable use of all the continent’s ocean resources. This is an important component of Agenda 2063, alongside tourism, maritime and air connectivity and renewable energy.