SMB becomes Seychelles Trading Company |01 December 2007

A communique from the Office of the President said yesterday that this follows an internal review of SMB’s activities.
According to the communiqué, the remaining SMB entities which are not included in this new company will be put up as part of Government’s announced privatisation plan.

The Seychelles Trading Company will be headed by Patrick Vel while Errol Dias will be taking over as the chief executive officer (CEO) of  SMB to oversee this process.
 
The communiqué said that the Seychelles Trading Company will be engaged in some areas of production which have been identified as non-priority for privatisation and most importantly in guaranteeing the import of basic commodities.  More details regarding the reorganisation of SMB will follow later.

Meanwhile, the Office of the President has also announced that Jude Padayachy will take over as the new CEO of the National Statistics Bureau.

These appointments take effect today, December 1, 2007