Seychelles Trading Company Ltd-STC starts operations |03 March 2008

The company has its own logo and does not enjoy monopoly and other privileges as did its predecessor, the SMB, which was a parastatal board formed under an Act of Parliament.

STC’s chief executive officer, Patrick Vel, said this in an interview on Friday, explaining that the key features in the logo are “arrows pointing in all directions which internationally denote multidirectional trading.”

Mr Vel said that STC has been created to ensure the availability of basic commodities at reasonable and affordable prices and will mainly venture in imports, wholesale and retail as well as light manufacturing and value-adding activities.

He said that the company will make use of the former SMB’s warehouses and other facilities and also continue to manage the abattoir on behalf of the Ministry of the Environment, Natural Resources and Transport.

The company will also continue to trade in tea and related products, toilet paper, bottled water, sauces and squashes.
Mr Vel said that STC will adopt a more commercial approach and seek to be more customer-focused, and confirmed that certain structures have been put in place by government to facilitate the importation of basic commodities.

“Our goal is to ensure the availability of basic commodities at fair and reasonable prices, within the reach of every Seychelles household and we will direct our activities towards enhancing the general well-being of our citizens,” Mr Vel said adding that STC’s key roles are to contribute towards maintaining a decent cost of living for the average citizens by anchoring prices, importing quality products and delivering good value to the households.

“We will also provide services and opportunities for third parties through collaboration where our infrastructure and expertise supports it and engage in light manufacturing of basic essential products, which save foreign exchange for the country and develop local expertise.

“STC also hopes to make available goods and services within our portfolio, throughout the country and identify and develop foreign exchange earning opportunities, while being self-supporting in all our activities as we assume responsibility as a good corporate citizen,” Mr Vel said.

Besides dealing in basic commodities, STC will also trade in other products which prove competitive and also act for third parties.

With regard to trade in building materials, he said STC will not habitually be involved, but since it has the capacity and connections, could deal in them if government asked it to, if a need arose.

Mr Vel said that all STC letterheads carry the company’s new logo, and the gradual replacement of the SMB banners will be done.

Meanwhile, STC has put out advertisements saying that its sales outlets, namely the supermarket and all warehouses including the fruit and vegetable units, will be closed today and will resume business tomorrow.