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CBS launches fair on ‘Digital Transformation in Seychelles’ |07 December 2022

CBS launches fair on ‘Digital Transformation in Seychelles’
  • Organisations showcase various digital products


Over a dozen financial institutions and companies are taking part in a two-day fair at the Camion Hall organised by the Central Bank of Seychelles (CBS) to showcase the Digital Transformation in Seychelles.

The fair, coinciding with CBS’ 44th anniversary, was launched yesterday morning by the Second Deputy Governor of the organisation, Jenifer Sullivan, during a short ceremony at the Camion Hall grounds.

When addressing the invitees and participants, Mrs Sullivan said the theme chosen, ‘Digital Transformation in Seychelles’, resonates with the work being done by CBS to lead the implementation of the National Payment System Modernisation Plan, which promotes a national payment system that is convenient, affordable, reliable, efficient and safe.

“We all stand to benefit from a more modern payment system; a digital financial system which will not only serve the financial sector but underpin the economy as a whole through increased transparency in payment, that should positively impact competition, minimise costs and mitigate fraud,” she said.

Mrs Sullivan added that technology pervades every aspect of people’s lives and this was further enhanced during the Covid-19 pandemic, which created a landscape that encouraged innovation and technological adoption.

She said during that period, the use of Seychelles Electronic Funds Transfer System increased by 141% in 2020, with a further 56% in 2021.

“Be it for health and safety reasons or convenience, many private sector businesses and public organisations have accelerated their move to some form of digital platform over the past few years. This includes the launch of the National Digital ID, PUC’s online payment portal, the SPTC mobile application and bus cards, as well as the numerous digital solutions introduced by the telecommunications and banking community,” she said.

Mrs Sullivan encouraged companies to adapt their products for use by all segments of the society, including the elderly, to ensure active participation in the digital environment, and called on everyone to work together to push the digital agenda, so that Seychelles could become a leading digital economy among island states.

There are sixteen organisations providing digital services in Seychelles that are taking part in the fair, including banks, telecommunication, insurance and public transport services, as well as policy makers.

Among the banking institutions was the Mauritius Commercial Bank (Seychelles), which was pushing its newly introduced Juice platform, among other digital services.

Its managing director, Bernard Jackson, said digital banking was the way forward for banks and this was further highlighted during the Covid-19 pandemic, with customers coming forward seeking these types of services.

“Today our customers are paying their bills online without issuing cheques or physically queuing for a long time to do their transactions. So clients are using cards and we need to encourage this further, and get those who are not yet on board and are still scared to use cards or our juice platform, to understand how these new channels work and that it is very easy,” said Mr Jackson.

For his part, Christophe Edmond, the chief executive of the Seychelles International Mercantile Banking Company, Nouvobanq, said they also have a wide range of digital products that customers need to make use of in 2023.

“We have online platform, mobile app among others and we want our customers to be aware of these services. These products are faster and more efficient, and you save time while doing your transactions,” he said.

Yesterday’s launch was attended by the principal secretary for the Department of Information Communications Technology, Benjamin Choppy, the principal secretary for Investment, Entrepreneurship, and Industry, Michael Nalletamby and other government and CBS officials.

The fair will start at 10am today and go on throughout the day until late afternoon.

Our selection of photos show some highlights of the launch ceremony yesterday.


Patsy Canaya

Photos by Joena Meme

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