Seychelles President Dr. Patrick Herminie recently visited the Seychelles Trading Company (STC), marking the first presidential tour in several years. He was accompanied by Finance Minister Pierre Laporte and STC Board Chairperson Lekha Nair. The visit follows the President's announcement to personally lead the STC portfolio, aiming to reduce the cost of living for Seychellois families. This move demonstrates the government's commitment to addressing economic concerns.
During the visit, President Herminie toured STC's facilities, including the sorting area, bakery, Gift Shop, and warehouses. He met with staff and observed daily operations firsthand. The management briefed him on plans to make STC Seychelles' leading trader while maintaining low prices for essential commodities and ensuring national food security. The President emphasized preventive maintenance to extend equipment life and avoid costly breakdowns.
Discussions focused on STC's ageing infrastructure, with much of its equipment over 25 years old. The President stressed the importance of regular upkeep to prevent disruptions in essential goods supply. The management outlined plans to modernize and digitalize STC's services, invest in new business areas, and expand into the hotel sector. These initiatives aim to enhance STC's competitiveness and efficiency.
President Herminie expressed his full support for STC's new management team, led by Chief Executive Iouana Pillay and Deputy Chief Executive Ronny Brutus. He reiterated STC's core mandate to anchor prices and vowed to do everything in his power to reduce the cost of living and provide better value for money for citizens.
The President encouraged STC's management to look beyond Seychelles and learn from experiences in the region and across Africa. He emphasized the importance of benchmarking against international best practices to drive growth and improvement. This approach will help STC stay competitive and adapt to changing market conditions.
President Herminie's vision for STC is ambitious, with a goal to transform the company by 2030. He wants to see a modernized STC that effectively balances competitiveness with social responsibility. The President's commitment to leading the STC portfolio personally underscores the government's focus on addressing economic challenges and improving living standards.
The President's visit and vision for STC have significant implications for Seychelles' economic landscape. By prioritizing cost reduction and efficiency, the government aims to enhance the quality of life for its citizens. The success of STC's modernization efforts will be closely watched, as it may serve as a model for other state-owned enterprises in the region.
Key points
- President Herminie aims to transform STC by 2030, focusing on modernization and competitiveness.
