State House

Office of the President of The Republic of Seychelles


Committee for Financial Assistance to Businesses holds first meeting

President Danny Faure met with members appointed on the Financial Assistance to Businesses High Level Committee to clearly establish procedures and guidelines that will enable private businesses in need of support to receive the necessary assistance, given the economic impacts of the COVID-19 outbreak. This is following the announcements made by the President last Friday.

Discussions centred on delivering Government’s guarantee that salaries of all employees in the private sector would be covered, for both Seychellois and non-Seychellois over the next 3 months. The committee has been tasked with establishing the criteria for eligibility and the level of assistance that businesses will be able to receive by the end of this week, giving businesses ample time to make their application.

The committee also discussed the mandatory supporting documents applicants would be required to submit to the Department of Finance for further processing as part of their request. 

Speaking to the press, the Chairperson of the Committee, Secretary of State for Finance Mr Patrick Payet, said to ensure proper coordination and effective dissemination of information in this process, three Focal/Liaison Offices will be set up for Mahe, Praslin and La Digue by Monday 30th March 2020 to ensure vital information is being shared to prospective businesses wishing to apply for the special assistance. He further stressed that more information will be made available to the private sector in the coming days and urged them to work with the Seychelles Chamber of Commerce who will be working to ensure the process is swift and the necessary financial relief for private businesses being affected is provided.

Present for the meeting at State House was the Minister of Finance, Trade and Investment, Mr Maurice Loustau-Lalanne, the Secretary of State for Finance, Mr Patrick Payet, the Principal Secretary for Department of Finance, Mr Damien Thesee, the Deputy Governor of the Central Bank, Jennifer Sullivan, the Commissioner of the Seychelles Revenue Commission, Mr Fred Morel, the Director General for Tax Payer Services, Louisa Woodcock and DICT Official Medawa Herath.