Air Seychelles was established in 1978 and began long-haul service in 1983. The airline currently offers international flights to Abu Dhabi, Johannesburg and Mauritius, operated by its new A330-200 aircraft. Air Seychelles also offers more than 160 domestic scheduled flights a week throughout the archipelago, as well as domestic charter services. As the national airline of the Republic of Seychelles, Air Seychelles is a pillar of tourism, the island nation’s strongest and growing economic sector.
The Airline visions and mission is to be a profitable and high quality Airline and delivering to their guests a quality service with unique Creole warmth.
In 2012 and as part of a strategic partnership alliance, Ethihad Airways acquired a 40 percent stake in Air Seychelles at a cost of $20 million. The deal also called for the Seychelles government to pump in another $20 million into Air Seychelles. Ethihad also agreed to provide a shareholder loan of $25 million to cover the Airline cash needs and to fund the development of its network. The agreement also made for provision for a five-year management contract for Etihad Airways to see the implementation of strategic measures to encourage Air Seychelles’ long-term commercial growth.
In April 2014, Air Seychelles, announced a net profit of US$3 million for 2013, exceeding by 171 percent its profit of US$1.1 million reported in 2012. Revenue increased by 107 per cent to US$88.7 million (2012: US$42.8 million). The airline’s passenger numbers on its international network increased 100per cent to 195,857 (2012:97,576), while traffic on domestic services in 2013 increased nine per cent to 156,617 passengers.
For the future, it is the Airline plan to grow its operations, launch new routes, take delivery of new aircraft, expand the airline partnerships, hire more Seychellois, and bring in more travellers to the Seychelles.
Head Office: Air Seychelles Ltd, Head Office, International Airport, P.O.Box 386, Victoria, Mahé,
Tel: +248 4 39 10 00
Fax: +248 4 39 13 50
The Development Bank of Seychelles (DBS) was established in 1977 under Decree No.21 as a development finance institution with a specific mandate to assist in the economic development of the Seychelles.
The Government of Seychelles is the major shareholder of DBS with a 60.5% stake. The remaining shareholders include the Agence Francaise de Development with 20% shares, the European Investment Bank with 15.91% shares. The Novobank holds the remaining 1.59% share.
DBS mission is to provide financial assistance to SMEs, especially to the risky sectors of the Seychelles economy ensuring that finance is channeled where most needed, hence bridging the gap between commercial investment and economic development. The Bank’s vision is to remain a friendly and customer focused financial institution in meeting customers’ requirement in productive sectors of the economy.
Head Office: Development Bank of Seychelles, P.O. Box 217, Independence Avenue, Victoria, Mahe, Seychelles
Tel: +248 4294400
Fax: +248 4224274
Formerly known as the Seychelles International Business Authority (SIBA), the Seychelles Finnacial Services Authority is the regulator for offshore non-bank financial services in the Seychelles. Established under the Financial Services Authority Act, 2013, the Authority is responsible for the licensing, supervision and development of the non-bank financial services industry of the Seychelles. The Authority is also responsible for the registration of International Business Companies, Foundations, Limited Partnerships and International Trusts in the Seychelles.
While the SIBA, in the past, was also a service provider and facilitated international business, the FSA represents an evolution in international financial services in Seychelles, in that the new institution will concentrate solely on regulatory matters.
SFSA vision is to safeguard the interest of the Seychelles non-bank financial services sector, through the establishment of a sound and ethical regulatory environment.
Head Office: PO Box 991, Bois de Rose Avenue, Roche Caiman, Victoria, Mahe Republic of Seychelles
Tel: +248 438 08 00
Fax: +248 438 08 88
Housing Finance Company Limited (HFCL) is a financial body which was incorporated on 21 May 2003 under the Companies Act, 1972. Housing Finance Company (HFC) is a government owned company which provides financing to Seychellois for the purchase of land, the construction of houses and financing home improvements.
Its major role involves borrowing from banks at a reasonable interest rate and subsequently lending to clients. It has provided lending services to the low to middle income population for the past 10 years and it aims to continue providing affordable loans to the less income earners while operating a proficient company.
HFCL aims to provide innovative and affordable housing finance solutions to the low- and middle-income housing market and to be the leading provider of integrated solutions for the acquisition, development and improvement of property in Seychelles.
As part of its growth strategy, HFCL seeks to spread out its current successful trend by expanding the loan portfolio by acquiring a loan of SR150million from Barclays Bank. The funds will enable HFCL to meet customers’ demands and at the same time offer reliable financial returns.
HFCL is a company with lots of social responsibilities and is not intended to have large profits; however it should be able to sustain its operational costs.
Head Office: PO Box 1112, 1st Floor, Victoria House, Victoria, Mahé, Seychelles
Tel: +248 467 06 00
Fax: +248 461 06 63
IDC is a public enterprise wholly owned by the Government. The principal statutory objective of IDC is to manage the outer islands vested by the Government of Seychelles on a 99 year lease. The main activities of IDC are:
IDC mission is to manage, protect, develop, connect, and establish infrastructure facilities of Seychelles Islands in an environmentally friendly and socially responsible manner. IDC aims to achieve this objective by:
Website: Not Available
Head Office: New Port, PO Box 638, Mahé, Seychelles
Tel: +248 4 38 46 40
Fax: +248 4 22 44 67