AGP Executive Report

Internet & Finance: A Seychelles company linked to businessman Lu Heng submitted 10 of Africa’s 16 applications in ICANN’s new domain-name round, drawing fresh attention to his separate role in the dispute over internet registry AFRINIC. Seychelles-headquartered Bitget says it will end services for some users in a one-off move, with affected clients notified and funds safe. Trade & Investment: Seychelles remains off the EU’s tax blacklist, recognised for cooperation on tax transparency. The UK has also added Seychelles to a general export licence covering specified dual-use technologies. Tourism: Seychelles mourns Mickey Mason, 82, co-founder of Mason’s Travel, whose business helped shape the country’s visitor industry and championed conservation on Denis Island. Local Economy: Golden Jubilee contracts directed about SCR 30 million ($2.18 million) to local spending, benefiting 339 Seychellois vendors and small service providers. Airtel Africa reaffirmed its commitment to Seychelles’ digital transformation through 5G investment, while the first shipment of dried sea cucumber to China under a zero-tariff arrangement points to new export opportunities.

Crypto: Seychelles-headquartered Bitget says it will end services for some users in a one-off move. The exchange says affected customers will receive withdrawal instructions, funds remain safe and the platform will continue operating. Financial Reporting: Seychelles is among the jurisdictions expected to automatically exchange financial information with the UK under the Common Reporting Standard in 2026, a requirement relevant to financial institutions reporting to HMRC. Tourism: Mickey Mason, co-founder of Mason’s Travel and a conservation-minded tourism pioneer, has died aged 82. His work helped connect visitors with the islands and shaped the sector. Trade and Travel: Kyrgyzstan’s parliament approved a visa-free agreement allowing citizens of both countries stays of up to 30 days per visit, capped at 90 days a year. Export Access: The UK added Seychelles to a general export licence covering specified dual-use goods and technologies, including some aviation, maritime and advanced technology products; exporters must still check whether the licence applies to each item.

Trade Protection: Seychelles’ National Assembly unanimously approved the Trade Remedies Bill, creating a framework for anti-dumping duties, countervailing measures and safeguards against harmful imports. Travel and Investment Links: Kyrgyzstan ratified a visa-free agreement allowing Seychellois and Kyrgyz citizens stays of up to 30 days per visit, capped at 90 days a year; lawmakers also advanced an investment-protection pact with Togo. Export Access: The UK added Seychelles to an expanded general licence for specified dual-use technologies, including some advanced and maritime equipment; exporters still need to check whether individual products qualify. Market Credibility: Seychelles remains among the African jurisdictions the EU recognises as meeting tax-governance standards, with no outstanding corrective measures. Blue-Economy Trade: A first shipment of dried sea cucumber to China under zero-tariff access signals a new export opportunity.

Travel Links: Kyrgyzstan’s parliament approved a visa-free agreement allowing Seychellois and Kyrgyz citizens to stay in each other’s country for up to 30 days per visit, capped at 90 days a year. Trade Access: The UK has added Seychelles to an expanded export licence for specified dual-use technologies, including some advanced technology, aviation and maritime equipment. Trade Protection: Seychelles’ National Assembly unanimously approved a bill setting rules to counter dumping and other unfair import practices, aiming to protect local businesses. Market Standing: Seychelles remains among seven African countries recognised by the EU for meeting tax-governance standards, with no outstanding commitments.

Travel Links: Kyrgyzstan’s parliament ratified a visa-free deal allowing Seychellois and Kyrgyz citizens stays of up to 30 days per visit, capped at 90 days a year. Export Access: The UK added Seychelles to an expanded export licence covering certain dual-use technologies, including selected maritime, IT and advanced equipment. Trade Rules: The National Assembly unanimously passed a Trade Remedies Bill to protect local businesses from dumping and other harmful import practices. Digital Investment: Airtel Africa reaffirmed plans to invest in Seychelles’ network and services, with talks covering 5G, affordable internet and digital finance. China Trade: Seychelles marked its first shipment of dried sea cucumber to China under zero-tariff terms, opening a boost for local exporters. Business Climate: Seychelles remains among the African countries recognised by the EU for tax cooperation, with no outstanding commitments.

Travel and Trade: Kyrgyzstan’s parliament ratified a visa-free travel agreement with Seychelles, allowing stays of up to 30 days per visit, capped at 90 days a year. Export Access: The UK added Seychelles to an open general export licence for certain controlled dual-use technologies, including selected maritime, aviation and advanced technology products; exporters must still check whether individual items qualify. Trade Protection: Seychelles’ National Assembly unanimously approved the Trade Remedies Bill, establishing tools to respond to dumping, unfair subsidies and harmful import surges. Tax Standing: Seychelles remains among seven African economies recognised by the EU as meeting tax-cooperation standards, with no outstanding corrective commitments. Blue Economy: The first shipment of dried sea cucumber to China under zero-tariff terms was marked on October 9, opening a potentially valuable route for local fisheries.

Trade Policy: The National Assembly unanimously approved the Trade Remedies Bill, creating tools to counter dumping and other unfair trade practices affecting Seychelles’ small economy. Financial Services: Seychelles-based BitMEX faces a UK claim seeking about £20 million over alleged unauthorised derivatives trading; the allegations have not been tested in court. Digital Economy: Airtel Africa reaffirmed plans to invest in Seychelles’ network infrastructure, following its 5G rollout, and discussed improving internet affordability and competition. Blue Economy: Seychelles sent its first shipment of dried sea cucumber to China under zero-tariff access, opening a new export opportunity. Business Climate: Seychelles ranked 50th globally in the Global Capitalism Index, second in Africa behind Mauritius. Tourism: Cheval Blanc Seychelles was named the world’s top resort in Condé Nast Traveller’s 2026 readers’ awards, offering a boost to the country’s luxury-tourism profile.

Trade Policy: The National Assembly unanimously approved Seychelles’ Trade Remedies Bill, creating a framework to counter dumping, unfair subsidies and harmful import surges. China Trade: Seychelles shipped its first batch of dried sea cucumber to China under zero-tariff terms, opening a new opportunity for the blue economy. Digital Economy: Airtel Africa says it will continue investing in Seychelles’ network and services after its 5G rollout, with talks also covering affordable internet and infrastructure sharing. Corporate Legal: BitMEX’s Seychelles-based operator faces a £20 million UK lawsuit over alleged unauthorised derivatives trading; the claims have not yet been served on the company. Regional Investment: Dangote Refinery plans to raise $1.6 billion in an IPO, with Botswana selected as the southern African trading venue. Business Climate: Seychelles ranked 50th globally and second in Africa in a new capitalism index assessing market openness and institutions.

Digital Investment: Airtel Africa says it will continue investing in Seychelles’ network, innovation and customer services after its 5G rollout. Talks with Vice-President Sebastien Pillay also covered internet affordability, competition, infrastructure sharing and digital financial inclusion. Tourism & Regional Risks: Mauritius’s worst unrest since 1999 has disrupted business and threatens tourism earnings in an economy reliant on visitors and financial services—an important regional watchpoint for Seychelles. Business Climate: Seychelles ranked 50th globally and second in Africa in a new capitalism index, behind Mauritius, which placed 48th. Blue-Economy Trade: Seychelles marked the first shipment of dried sea cucumber to China under zero-tariff access, a step toward expanding exports to the Chinese market. Investment: Recent Seychelles-UAE discussions have highlighted opportunities in renewable energy and other sectors, with officials stressing the need for bankable projects and stronger investor confidence.

Digital Investment: Airtel Africa reaffirmed plans to invest in Seychelles’ network and digital services after its 5G rollout. Talks with Vice-President Sebastien Pillay focused on stronger competition, more affordable home internet, infrastructure sharing and digital financial inclusion. Blue-Economy Trade: Seychelles has shipped its first batch of dried sea cucumber to China under zero-tariff terms, opening a new export opportunity for the fisheries sector. Tourism: Cheval Blanc Seychelles was named the world’s top resort in Condé Nast Traveller’s 2026 readers’ awards, adding a high-profile boost to the country’s luxury tourism brand. Business Climate: A new Global Capitalism Index ranked Seychelles 50th worldwide and second in Africa, behind Mauritius, assessing factors including banking, competition and capital flows. Regional Risks: Mauritius’ worst riots since 1999 have disrupted schools and prompted the main business lobby to urge remote work, amid water shortages and rising living costs. The unrest is an unusual shock for a regional economy reliant on tourism and financial services.

Tourism: Cheval Blanc Seychelles on Mahé was named the world’s top resort in Condé Nast Traveller’s 2026 Readers’ Choice Awards, putting the islands’ luxury offering in the global spotlight. Investment: Seychelles is positioning itself as a gateway for UAE investment, citing the country’s location, stability and blue-economy opportunities. The Seychelles Investment Board is advancing $24.5 million in UAE-funded projects. Island Development: The Islands Development Company says resort partnerships on outer islands—including Waldorf Astoria on Platte and Four Seasons at Desroches—help fund its operations while balancing commercial development with environmental care. Blue Economy: Regional decisions at the Nairobi Convention’s COP12 include new strategies for plastics, seagrass and mangroves, supporting marine ecosystems vital to Seychelles’ fisheries and tourism.

Investment & Trade: Seychelles is positioning itself as a gateway for UAE investment, highlighting opportunities in renewable energy, the blue economy and other priority sectors. The Seychelles Investment Board is advancing $24.5 million in UAE-funded projects, while officials say bankable proposals and stronger investor confidence are key to unlocking growth. Business & Innovation: A Seychelles startup has joined the sixth Visa Africa FinTech Accelerator cohort — the first time the programme includes a company from the country. Local profiles also spotlight Vijay Construction, Islands Development Company, PUC, SEYPEC and Seychelles Postal Services, with themes including infrastructure, island partnerships and financial resilience. Blue Economy: Nairobi Convention members adopted regional measures on plastics, seagrass, mangroves and marine pollution, reinforcing cooperation on coastal protection. Seychelles’ fisheries and tourism depend on healthy marine resources, making implementation and sustainable funding important to the economy.

Blue Economy: Western Indian Ocean countries at COP12 adopted regional plans on plastic pollution, seagrass, mangroves and marine habitats, backing conservation that supports Seychelles’ fisheries and tourism. Investment: Seychelles is deepening ties with the UAE, with $24.5 million in UAE-funded projects highlighted alongside efforts to attract investors to renewable energy and other priority sectors. Business: Local firms are positioning for growth: Islands Development Company is expanding resort partnerships across outer islands, SEYPEC is pursuing regional opportunities, and Seychelles Postal Services is focusing on e-commerce and logistics. Infrastructure: Public Utilities Corporation says its priority is a resilient, future-ready power, water and sewerage network, while Vijay Construction points to its role in major projects including Eden Island. Fintech: A Seychelles startup has joined the latest Visa Africa FinTech Accelerator cohort, gaining access to mentorship and industry connections.

Blue Economy: Western Indian Ocean nations at COP12 adopted regional plans on plastics, seagrass, mangroves and marine pollution, reinforcing the environmental base for Seychelles’ fisheries and tourism. UAE Investment: Seychelles is pitching itself as a gateway to African markets, with the UAE cited as having invested more than $118 billion across Africa since 2020; the Seychelles Investment Board is also driving $24.5 million in UAE-funded projects. Tourism and Outer Islands: Islands Development Company is expanding resort partnerships, including on Platte, Desroches, Alphonse and Silhouette, while relying on commercial revenue rather than government funding. Fintech: Seychelles joined the latest Visa Africa FinTech Accelerator cohort for the first time, giving local startups access to mentorship and connections across the continent’s financial sector.

UAE Investment: Seychelles is seeking to turn closer ties with the Emirates into investment, with officials highlighting the country’s location, stability and access to African markets. The Seychelles Investment Board is advancing $24.5 million in UAE-funded projects, while the Vice-President says the priority is to develop bankable proposals. Island Economy: The Islands Development Company is growing partnerships with resort operators while balancing commercial development and environmental care. Seychelles Postal Services is also focusing on e-commerce and logistics to support imports and exports. Energy and Blue Economy: SEYPEC is pursuing regional partnerships and investment in renewable energy, while the government says sustainable management of marine resources is vital to fisheries and tourism. Essential Services: Public Utilities Corporation says resilience and reliable electricity, water and sewerage are central to the country’s development.

Blue Economy: Tanzania called for stronger cooperation and sustainable funding to tackle marine threats across the Western Indian Ocean, a region whose seas support fisheries and tourism. Currency Watch: Seychelles was among seven African economies whose currencies fell by more than 5% at their worst point in the second quarter, the World Bank reported; much of the pressure had eased by August. Fintech: A Seychelles startup joined the latest Visa Africa FinTech Accelerator cohort, connecting it with mentors, investors and financial institutions across the continent. Air Connectivity: African airline capacity rose 8.8% year on year in August, but industry leaders say slow implementation of the Single African Air Transport Market is holding back growth; the sector’s projected 2026 profit margin is just 1%. Development Finance: Experts meeting in Mauritius urged African countries to mobilise more domestic capital and strengthen local financial markets to reduce high funding costs, with the UN Resident Coordinator for Mauritius and Seychelles highlighting the impact on infrastructure, businesses and jobs.