Inauguration of Caravelle House & new MCB Seychelles Premises-A highlight of sustained investor confidence |04 July 2005

It is also proof of MCB's commitment to further contribute to the economic progress of the country while providing high quality service to the bank's customers.

This was said by Mr Gerard Hardy, chairman of the Board of MCB Ltd during the inauguration attended by Vice-President Joseph Belmont, who was the guest of honour.

Mr Hardy, who later joined Vice-President Belmont to unveil the plaque marking the official opening of the complex, said that the building epitomises the long-standing and successful cooperation between Seychelles and the Mauritius Commercial Bank.

Stating that Seychelles ranks very high in the bank's diversification strategy of regional expansion, Mr Hardy noted that MCB Seychelles becomes the first subsidiary incorporated outside Mauritius to bear the Mauritius Commercial Bank brand.

"The dedication of the government to unleash the huge economic potential of this heavenly country reinforces our conviction that new profitable ventures would emerge in the near future," Mr Hardy said.

In this respect, he expressed the bank's appreciation for the commendable efforts undertaken by the authorities to implement reforms advocated by the International Monetary Fund (IMF) towards enhancing business and investment climate in Seychelles.

Mr Hardy also paid a special tribute to the devoted staff of MCB Seychelles for "their hard work over the years." This, he said, "has been a keystone in the remarkable achievements of the bank."

Calling the Caravelle House a "flagship building in our central business district", Vice-President Belmont said that it is a testimony of the importance that government attaches to the strengthening of public-private partnership in order to enhance the economic environment of our country.

Stating that the R70 million project started some 20 months ago when many investors were somewhat hesitant to invest here, Vice-President Belmont said that today, "this building is a shining example which makes us realise that being visionary and bold pays off."

The Caravelle House, which has a Creole architecture, is situated  at the junction of Manglier Street and 5th June Avenue. 

Construction work on the three-storey building, which also houses the Emirates Airlines office, was undertaken by Laxmambai.

Mascareignes Properties Ltd and the Mauritius Commercial Bank have played the leading role in financing the construction of the office complex. The Seychelles Pension Scheme (SPS) will be taking a long term lease of 2,606 square metres of the remaining office space with a view to obtain a higher rate of return on its investments. The SPS will in turn rent some of the space to other government departments.

The main entrance of the building will be turned into an art gallery and Vice-President Belmont has called on Seychellois artists to take the opportunity to display their wide range of art works.

Friday's ceremony was also attended by officials from the Mauritius Commercial Bank, government ministers, Speaker of the National Assembly, Chief Justice, Leader of the Opposition, members of the diplomatic corps, Members of the National Assembly, other government officials, representatives of the business community here as well as staff of MCB Seychelles.