Tourism: A new 12-day expedition through the Outer Seychelles and coastal Tanzania is launching from Mahé, bringing visitors to remote islands and Aldabra’s giant tortoises. Fintech: Seychelles is represented in the sixth Visa Africa FinTech Accelerator cohort, which brings together 21 companies from nine countries; the programme offers connections and mentorship to help startups grow. Pay and Currency: Seychelles ranked third in an African take-home salary comparison, at an estimated $790 a month. The World Bank also reported that the rupee was among currencies that depreciated by more than 5% at its worst point in Q2, though much of the pressure had eased by August. Investment: African finance experts meeting in Mauritius called for deeper capital markets and greater use of domestic savings, pension funds and insurance assets to lower the cost of development funding. Digital Economy: The AU and Seychelles’ president are pushing for investment and stronger governance to support Africa’s digital economy.
AGP Executive Report
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Currency Pressure: The World Bank says Seychelles was among seven of 22 African currencies to depreciate by more than 5% at its worst point in Q2 2026, as Middle East tensions and higher energy costs pressured exchange rates. Much of the pressure had eased by August. Financing: At a regional conference in Mauritius, experts urged African countries to mobilise domestic capital to lower borrowing costs. The UN Resident Coordinator for Mauritius and Seychelles called for transparent, accurate assessments to guide investment. Digital Economy: Seychelles’ president and the African Union are pushing for investment and stronger governance to advance the digital economy. Pay and Revenue: Seychelles ranked third in Africa for average monthly take-home pay, at $790, in a 2026 salary comparison. It also placed ahead of Kenya in a continental assessment of tax and revenue mobilisation. Crypto Regulation: Canada’s Supreme Court will hear a case over whether Canadian courts can freeze crypto assets held through Binance entities, including Seychelles-based Nest Services. The ruling could shape how cross-border fraud cases involving digital assets are handled.
Finance: African experts are urging deeper capital markets and greater use of pension funds, reserves and other domestic assets to reduce high borrowing costs and fund development. Currency Watch: The World Bank says Seychelles was among seven of 22 monitored African economies whose currencies fell more than 5% at their worst point in the second quarter; much of the pressure had eased by August. Digital Economy: The African Union and Seychelles’ president are calling for more investment and stronger governance to advance the continent’s digital economy. Pay and Jobs: Seychelles ranked third in Africa for average monthly net pay, at $790, in a 2026 comparison. Blue Economy: A debt-swap deal restructured $21.6 million in foreign debt to support conservation, helping Seychelles protect 410,000 square kilometres of ocean; fishing and tourism together provide jobs for more than a third of the workforce. Tourism Access: Seychelles is among 46 African countries whose citizens can visit the Philippines visa-free for up to 30 days.
Currency Pressure: Seychelles was among seven of 22 African countries whose currencies fell by more than 5% at their weakest point in the second quarter, the World Bank reported. Much of the pressure had eased by the end of August. Pay Rankings: Seychelles placed third in Africa for estimated average monthly take-home pay, at $790, behind Djibouti and South Africa, according to LiveGDP figures. Digital Economy: President Patrick Herminie called for digital transformation to widen access to technology and economic opportunities at a New York forum focused on investment, governance and Africa’s digital economy. Blue Economy: A debt-swap deal restructured $21.6 million in Seychelles’ foreign debt to fund ocean conservation, helping expand protected waters to 30% of the country’s marine zone by 2020. Fishing and tourism support more than a third of the workforce.
Crypto & Regulation: Texas regulators fined OKX and Singapore’s Triple A Technologies a combined $115,000 for receiving and transmitting stablecoins to Texas customers without a state money-transmission licence, underscoring that federal law doesn’t block state licensing. Digital Payments: Airtel Money plans a Kenya launch of a Mastercard virtual card that lets customers pay for international e-commerce directly from mobile wallets, aiming to challenge M-Pesa GlobalPay. Cybersecurity: New research says nearly 40,000 phishing URLs targeted US financial firms in H1 2026, with attackers using AI-driven lures and a Seychelles-based bulletproof hosting provider. Seychelles in the spotlight: A Canadian Supreme Court case will test jurisdiction in a cryptocurrency fraud dispute involving Nest Services Ltd., headquartered in Seychelles. Tourism & Mobility: The Philippines extended visa-free entry (up to 30 days) to citizens of 46 African countries, including Seychelles, while excluding Nigeria and others. Blue Economy & Conservation: A debt-swap backed by Leonardo DiCaprio’s foundation helped Seychelles expand protected ocean coverage to 30% by 2020. Digital Economy Policy: Seychelles President Netumbo Nandi-Ndaitwah pushed for stronger water investment to turn commitments into bankable projects.
Cybersecurity & Finance: Nearly 40,000 phishing URLs targeted US financial firms in H1 2026, up over 60% year-on-year, with attackers using AI-generated lures and a Seychelles-based “bulletproof” hosting provider to stay hard to trace. Digital Economy & Governance: Seychelles President Wavel Ramkalawan backed stronger governance and investment to make the digital economy deliver real jobs and opportunities, echoing calls from African leaders for tech growth tied to practical outcomes. Crypto & Law: A Supreme Court of Canada case could shape how cross-border cryptocurrency fraud victims pursue claims, involving Seychelles-linked Nest Services Ltd. tied to Binance-related allegations. Trade & Payments: XT Exchange launched XT Pay “Scan to Pay” to let users spend USDT via local QR networks, aiming to simplify stablecoin payments for merchants. Ocean Conservation Finance: Seychelles’ debt-swap backed by Leonardo DiCaprio’s foundation helped expand protected ocean areas to 30% by 2020, supporting marine spatial planning and blue-economy livelihoods. Regional Cooperation: Tanzania hosts COP12 to push Western Indian Ocean action on illegal fishing, pollution and coastal ecosystem protection—an agenda closely aligned with Seychelles’ marine priorities.
Crypto & Courts: Canada’s Supreme Court will test jurisdiction in a Binance-linked cryptocurrency fraud case involving Seychelles-based Nest Services, with potential fallout for Canadian victims seeking to freeze foreign-held virtual assets. Cybercrime & Finance: New research says nearly 40,000 phishing URLs targeted US financial firms in H1 2026, powered by AI-enabled switching across hundreds of hosting providers—raising the stakes for cyber resilience. Digital Economy & Governance: Seychelles President Patrick Herminie backed investment and stronger governance to turn Africa’s digital push into jobs and trade, stressing practical benefits for citizens. Banking & Crypto Services: Absa becomes Africa’s first bank to offer institutional crypto custody in South Africa, aiming to tap a growing digital-asset market and expand subject to approvals. Ocean Conservation & Debt: A DiCaprio-backed debt-swap helped Seychelles expand protected ocean areas to 30% by 2020, linking long-term conservation finance to marine spatial planning. Regional Environment: Tanzania hosts COP12 for the Nairobi Convention on marine protection, focusing on pollution, illegal fishing and coastal ecosystem degradation. US Travel Rules: The US visa-bond programme now covers 50 countries with deposits up to $20,000 for B1/B2 visas—Seychelles is not listed, but the policy signals tighter entry controls.
Fintech & Compliance: Airtel Money operator Airtel Mobile Commerce pledged tighter anti–money laundering and counter-terror financing controls as the IFC backs its planned London Stock Exchange listing with £67.2m. Digital Economy & Policy: President Wavel Ramkalawan and AU, Seychelles president push for investment and stronger governance to drive the digital economy, while Seychelles President Netumbo Nandi-Ndaitwah urged turning water-sector commitments into bankable projects. Blue Economy & Conservation: A DiCaprio-backed debt-swap helped Seychelles expand protected ocean to 30% by 2020, and Tanzania is set to host COP12 for Western Indian Ocean marine conservation. Tourism & Travel Access: The UK’s ETA eligibility list names only Mauritius and Seychelles among African countries, potentially easing entry for their citizens. Finance & Markets: Absa became Africa’s first bank to offer institutional crypto custody in South Africa, targeting a $1.5bn market. Maritime Security: A report links Russia-trading “shadow fleet” tankers to a Hong Kong nominee structure, with Seychelles previously appearing in ownership chains. Seychelles in the Spotlight: Seychelles helped 17 stranded Indian fishermen after an engine failure, and local officials congratulated African Initiative on its third anniversary.
Ocean Finance & Conservation: A DiCaprio-backed debt-swap helped Seychelles convert foreign debt into long-term ocean protection, expanding marine safeguards from 0.04% of its EEZ to 30% by 2020, with Marine Protection Areas covering 410,000 sq km—bigger than Germany. Digital Economy & Payments: XT Exchange launched XT Pay “Scan to Pay” to let eligible users spend USDT balances via local QR networks, aiming to simplify stablecoin-linked retail payments. Seychelles in Global Policy: President Netumbo Nandi-Ndaitwah urged stronger, bankable investment in Africa’s water sector, linking funding to food security, poverty reduction and climate resilience. Visa & Mobility Watch: The UK’s ETA eligibility list names only Mauritius and Seychelles among African countries, while the US rolled out a visa-bond requirement for 50 nations (Seychelles not highlighted in the provided list). Crypto, Courts & Risk: Canada’s Supreme Court will review an Ontario crypto freeze order tied to alleged bitcoin fraud involving a Seychelles-based entity. Maritime Security & Trade Compliance: Windward’s analysis links 45 Russia-trading shadow fleet tankers through Hong Kong nominee structures, with most sanctioned vessels managed via a cluster in Azerbaijan. Regional Business & Governance: Absa became Africa’s first bank to offer institutional crypto custody in South Africa, targeting a growing digital-asset market.
UK Travel Rules: The UK published an Electronic Travel Authorisation eligibility list naming only Mauritius and Seychelles among African countries, giving island travellers a smoother pre-departure route while many others still need traditional visas. Digital Payments: XT Exchange launched XT Pay Scan to Pay, letting eligible users spend USDT balances via local QR payments without manually converting to cash first. Digital Economy & Governance: Seychelles President Patrick Herminie urged investment and stronger governance to turn Africa’s digital push into jobs and trade. Water Investment: Namibia’s Netumbo Nandi-Ndaitwah called for turning Africa’s water-sector commitments into bankable projects as the continent closes a major investment gap. Finance & Reforms: Somalia met Norway’s ambassador to discuss economic cooperation and financial-system reforms. Crypto & Courts: Canada’s Supreme Court will review whether an Ontario court had jurisdiction in a cryptocurrency fraud case tied to a Seychelles-based exchange. Maritime Safety: Seychelles helped 17 Indian fishermen after a high-seas engine failure. Banking Innovation: Absa became Africa’s first bank to offer institutional crypto custody in South Africa. US Visa Bonds: A new US rule requires refundable visa bonds for citizens of 50 countries; Seychelles is not listed in the coverage.
Stablecoin Payments: XT Exchange rolled out XT Pay “Scan to Pay,” letting eligible users spend USDT balances via local QR networks without manually converting to cash first. Digital Economy & Governance: Seychelles President Patrick Herminie urged stronger governance and investment links to turn Africa’s digital push into jobs and trade. US Visa Bonds: The US expanded a B1/B2 visa bond programme for 50 countries, requiring refundable deposits of $10,000–$20,000; India is not on the list. Regional Aviation Pressure: A US senator warned that China-linked tactics restricting Taiwanese presidential flights could endanger international travellers, citing Seychelles, Madagascar and Mauritius actions. Crypto & Courts: Canada’s Supreme Court will review whether an Ontario court had jurisdiction in an alleged cryptocurrency fraud case involving a Seychelles-headquartered entity. Banking & Crypto Custody: Absa became Africa’s first bank to offer institutional digital-asset custody in South Africa, with possible expansion pending approvals. Ocean Conservation Funding: Seychelles and Western Indian Ocean partners renewed calls for shared financing and cooperation to protect migratory marine life. Maritime Rescue: Seychelles helped 17 Indian fishermen after engine failure off the island nation’s waters.
US Visa Bonds: The US has added 50 countries to a B1/B2 visa bond programme requiring deposits of $10,000–$20,000; India is not on the list, meaning Indian passport holders are not subject to the bond under this rule. Digital Economy & Governance: Seychelles President Patrick Herminie joined African policymakers at the Forward Africa Leaders Symposium to push stronger governance and investment links to turn digital ambitions into jobs and trade. Somalia–Norway–Seychelles Talks: Somalia’s finance minister met Norway’s ambassador (also covering Seychelles) to discuss economic cooperation and financial reforms to strengthen public financial management. Russia–Africa Media & Co-operation: Russia’s embassy in Madagascar congratulated Seychelles-linked African Initiative on its third anniversary, while African Initiative also held a Russia–Africa co-operation session in Moscow focused on trade, investment and energy. Crypto & Courts: Canada’s Supreme Court will review whether an Ontario court had jurisdiction in an alleged cryptocurrency fraud case involving a Seychelles-based exchange entity. Seychelles Maritime Support: Seychelles helped 17 Indian fishermen after a high-seas engine failure, with India also noting prior defence and maritime equipment support. Currency Snapshot: Seychelles’ rupee ranked among Africa’s stronger currencies in September 2026, with the Tunisian dinar top.
Seychelles Economy Boost: The African Development Bank approved a $34m loan to back Seychelles’ economic resilience, public services, private-sector growth and greener recovery, bringing total support under the programme to $84m since 2024, with reforms targeting better business conditions, climate resilience and digital public financial management. Tourism Connectivity Test: Seychelles tourism is adapting after Middle East aviation disruptions highlighted route dependence, with officials saying the priority is keeping air links open as visitor numbers were hit when connectivity faltered. Crypto & Compliance Watch: Canada’s Supreme Court will review whether an Ontario court had jurisdiction to freeze cryptocurrency in an alleged fraud case tied to a Seychelles-based company, underscoring cross-border legal reach. Regional Finance Innovation: Absa became Africa’s first bank to offer institutional crypto custody in South Africa, aiming to tap a growing digital-asset market. Sanctions & Shadow Banking: The US Treasury sanctioned Russia-linked A7 Network after FinCEN traced over $17bn in transactions, with a proposed move to restrict US transfers tied to A7 sub-agents. Maritime Cooperation: India thanked Seychelles for life-saving help to 17 fishermen after an engine failure in high seas off Seychelles.
Seychelles Economic Financing: The African Development Bank has approved a $34m loan for Seychelles’ Economic Resilience and Green Recovery Support Programme, the third phase of a wider $84m package since 2024, targeting economic governance, a better business environment, and climate resilience, with digital public financial tools like e-invoicing and e-procurement plus a one-stop investment portal. Crypto & Courts: Canada’s Supreme Court will review whether an Ontario court had jurisdiction to impose a statutory freeze in an alleged cryptocurrency fraud case tied to Seychelles-based Nest Exchange Ltd. Banking & Digital Assets: Absa says it has become Africa’s first bank to offer institutional crypto custody in South Africa, aiming to tap a $1.5bn market and expand across Africa subject to regulators. Seychelles in Maritime Response: India credits Seychelles with swift life-saving help for 17 fishermen after an engine failure off the Seychelles high seas. Tourism Connectivity Test: Seychelles tourism officials say aviation disruptions have reinforced the need to keep routes open, noting many visitors connect via Gulf hubs. Cybersecurity & Crypto Exchanges: Bitget says withdrawals resumed after a $388m hack, with customer withdrawals stabilising as it processes phased exits. Global Sanctions Watch: The US Treasury sanctioned Russia-linked A7 Network after tracing over $17bn in transactions, moving funds outside normal channels.
Seychelles Economic Boost: The African Development Bank has approved a $34m loan for Seychelles’ Economic Resilience and Green Recovery programme, the third phase of support since 2024, targeting economic governance, a better business environment and climate resilience, with digital public financial tools like e-invoicing and e-procurement. Crypto Court Watch: Canada’s Supreme Court will review whether an Ontario court had jurisdiction to freeze and manage bitcoin in an alleged fraud case, where investigators traced BTC to a Seychelles-linked company. Tourism Connectivity: Seychelles says tourism is adapting after Middle East aviation disruptions, noting that around 60% of visitors connect via Doha, Dubai or Abu Dhabi and route stability is now a key resilience lesson. Regional Trade & Competition: Turkish and African competition authorities met in Istanbul to discuss cooperation on competition law and policy. Finance & Markets: Bitget resumed withdrawals after a major hack, with the CEO saying withdrawals stabilized after phased restarts. Business Risk & Data: A US court case highlights how mishandling data subject requests can escalate into major legal action affecting core digital assets. Corporate Deal: Diageo booked a Sh5.57bn charge tied to its sale of stakes in EABL and UDV Kenya to Asahi. Currency Snapshot: Seychelles’ rupee ranked among Africa’s stronger currencies in September, listed at about 13.82 per US dollar.
Seychelles Economic Boost: The African Development Bank has approved a $34m loan for Seychelles’ Economic Resilience and Green Recovery programme, the third phase of support since 2024, targeting stronger governance, a better business environment, and climate resilience through reforms like e-invoicing and e-procurement. Tourism & Connectivity: Seychelles says it’s learning to stay resilient as Middle East aviation disruptions test route access; with around 60% of visitors arriving via Gulf hubs, keeping routes open is now as important as keeping the destination attractive. Digital Finance in the Spotlight: Seychelles-based WOO X launched WOO X EU, built for MiCA-aligned trading with asset safeguarding and a Europe-ready setup. Crypto Risk Management: Bitget, also linked to Seychelles, resumed withdrawals in phases after a $388m hack, with customer withdrawals stabilising after an initial rush. Regional Competition Cooperation: Turkey and African competition authorities met in Istanbul to share policy and strengthen cooperation on competition law. Business Climate & Trade: The EU reported that its trade agreements are improving market access and resilience for European firms, with preferential deals supporting faster growth in agri-food exports. Currency Watch: A new Africa currency ranking puts the Tunisian dinar top and places the Seychellois rupee among the continent’s stronger performers against the US dollar. Travel Policy Signals: Passport Index data shows Seychelles among Africa’s strongest passports, reflecting growing visa-free mobility across the continent.
Seychelles Economic Boost: The African Development Bank approved a $34m loan for Seychelles to strengthen economic resilience, public services, private-sector growth and greener development, bringing total support under the programme to $84m since 2024, with reforms aimed at better governance, a stronger business environment and climate resilience plus digital upgrades like e-invoicing and e-procurement. Tourism Resilience: Seychelles says it is adapting faster after aviation disruptions exposed route dependence, noting that about 60% of visitors arrive via Gulf hubs and that the March 2026 drop in arrivals reflected connectivity shocks rather than a decline in the destination itself. Regional Mobility & Visas: Passport Index data puts Seychelles among Africa’s strongest passports, while separate reporting highlights visa-free access to the UAE for Seychellois travellers, supporting easier travel for tourism and business. Crypto & Financial Risk: Seychelles-linked Bitget news continues to ripple as the exchange resumes withdrawals in phases after a major hack, underscoring ongoing cyber risk for financial platforms. Competition Cooperation: Turkish and African competition authorities met in Istanbul to discuss closer cooperation on competition law and policy, relevant for regional trade and market fairness.
Crypto & Security: Bitget, the Victoria, Seychelles-based exchange, said withdrawals resumed in phases after a $388m hack linked to North Korean patterns, with more than 4,000 BTC (over $334m at current prices) pulled in the first hour of the restart as customers’ requests were processed. Digital Assets Regulation: WOO X officially launched WOO X EU from Mahe, built to align with Europe’s MiCA rules, with Payward Services providing custody and infrastructure for a MiCA-aligned trading venue. Tourism Resilience: Seychelles said it is keeping routes open as aviation disruptions test connectivity, citing lessons from COVID-19 and noting that around 60% of visitors arrive via Gulf hubs. Development Finance: The African Development Bank approved a $34m loan for Seychelles’ Economic Resilience and Green Recovery programme, backing economic governance, business reforms and climate resilience, with digital public financial management upgrades planned. Regional Mobility & Travel Links: UAE travel data shows Seychelles passport holders enjoy visa-free entry for up to three months, supporting tourism and business travel. Regional Disruption Watch: Mauritius denied landing clearance for an Air Seychelles flight from Israel, forcing cancellation and highlighting how diplomacy can quickly disrupt air links. Energy Cost Pressure (Africa): Reports on high petrol and diesel prices across Africa show how fuel costs can ripple into transport, logistics and household prices.
SIDS DOCK Presidency: Seychelles President Dr Patrick Herminie has been elected to lead the SIDS DOCK Assembly’s Tenth Session, with Seychelles set to take the Presidency through December 2027, aiming to push sustainable energy, climate resilience and financing priorities for small island states. Regional Diplomacy & Aviation: Mauritius denied landing clearance for an Air Seychelles flight from Israel, forcing cancellation and highlighting how political and diplomatic considerations can quickly disrupt tourism and travel links. Crypto & Financial Risk: Seychelles-based Bitget paused withdrawals after a major hack linked by investigators to North Korea’s Lazarus Group, with phased restoration planned as the exchange works to recover assets and resume services. Competition Policy: Turkish and African competition authorities met in Istanbul to strengthen cooperation on competition law and policy, reflecting growing economic ties between Türkiye and Africa. Tourism Recognition: Seychelles secured an award at the World Travel Awards Asia, Oceania & Indian Ocean Gala in the Maldives, taking “Indian Ocean’s Leading Beach Destination.” Wealth Concentration Watch: A new global wealth map shows the richest 0.1% hold more wealth than the bottom 80% in 27 countries, with Russia and South Africa leading—an inequality signal relevant to policy debates.
SIDS Leadership: Seychelles will take over the SIDS DOCK Assembly presidency through December 2027 after President Dr Patrick Herminie was elected to lead the Tenth Session, with priorities spanning sustainable energy, climate resilience, ocean governance and international financing. Crypto Security: Seychelles-based Bitget resumed withdrawals in phases after a hack that saw about $387.5m moved to attacker-controlled addresses, with CEO Gracy Chen saying private-key compromise was ruled out and funds are covered. Regional Aviation & Diplomacy: Mauritius denied landing clearance for an Air Seychelles flight from Israel, forcing cancellation; organisers cited “political and diplomatic considerations,” with reports linking the decision to Mauritius’ absence from Netanyahu’s UN address. Tourism Recognition: Seychelles picked up an award at the World Travel Awards Asia, Oceania & Indian Ocean Gala in the Maldives, winning “Indian Ocean’s Leading Beach Destination.” Trade & Markets: EU says its trade agreements are boosting exports and economic security, while India’s GRSE plans to expand shipbuilding capacity to build 32 vessels concurrently and target global markets. Mobility & Travel Access: UAE lists Seychelles as visa-free for ordinary passport holders, and Qatar offers a free 90-day tourist visa to Seychelles as the only African country on its list.
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