CBS hosts board and management retreat with a focus on promoting inclusivity |18 February 2020
The Central Bank of Seychelles (CBS) hosted its board and management retreat for 2020 on Saturday February 15 and Sunday February 16, under the theme ‘Nurturing a culture of inclusive growth’. This took place at the Avani Seychelles Resort and Spa.
This is the second joint retreat following the first one in 2018, which led to the elaboration of the CBS’ 2019 – 2023 Strategic Plan document. Hence, the 2020 gathering was an opportunity to take stock of the achievements thus far, discuss the challenges and how to address them, to stay the course towards achieving the strategic goals. The importance of self-care and self-worth, recognition and appreciation of staff performance, as well as staff empowerment and capacity development, were some of the other topics of discussion on the first day.
The second day began with discussions on wealth creation and distribution, setting the stage for deliberations on promoting a culture of good governance. This was an opportunity for the CBS board directors and management teams to conduct a health check of the governance structure of the institution.
The sessions on cultivating an effective governance culture as well as personal branding and embodying integrity were led by a guest facilitator, Mohammed Nyaoga, the chairman of the Central Bank of Kenya board of directors, who has ample experience in the central banking environment.
The retreat saw fruitful debates and frank discussions on all issues presented, with the aim of producing tangible outcomes that will allow CBS to move forward and achieve its vision of becoming a model Central Bank delivering price stability and financial system soundness.
Speaking on the first day, the CBS Governor, Caroline Abel, noted that the way forward will not be without its fair share of challenges.
She highlighted the importance of the retreat as a means for the board and management team to come together and contribute ideas on how to collectively make a difference, not only within the Bank, but for the entire population.
“I sincerely hope that our interactions over these two days will stimulate our thinking on how to enhance the public’s access to affordable and safe financial services and products, encourage the use of technology while engaging the society at large to improve the level of financial literacy. I encourage you all to participate freely in frank and honest discussions. I am optimistic that the result will be firm decisions that will translate positively to the public, as this is crucial to obtaining the necessary buy-in to achieve our vision of becoming a model Central Bank delivering price stability and financial system soundness,” said Ms Abel.
At the end of the two days, each board director and member of the management team formulated a pledge revolving around the values upheld by the CBS, which they plan to work towards achieving throughout 2020.
In the broader sense, the retreat participants resolved to make positive and transformative change. This is expected to be achieved by addressing some key areas including a commitment to promote the value of inclusivity, cultivate a culture of inclusive growth as well as good governance, have a more simplified and focussed performance management process and enhance staff empowerment, as well as capacity development and training. All of these are to be done in line with the CBS Strategy 2019 – 2023.
Contributed by the Central Bank of Seychelles