Innovative Financing in Action: Seychelles Launches its SDG Investor Map to Boost Private Sector Investment for Development
July 13, 2023
13 July 2023, Mahé, Seychelles – The Government of Seychelles, in partnership with the United Nations Development Programme (UNDP), has launched the Seychelles SDG Investor Map, in the presence of the President of the Republic of Seychelles, the Vice-President, Cabinet Ministers, senior representatives from the public and private sector, and Development Partners.
This market intelligence tool will attract private capital to investment opportunities aligned with the Sustainable Development Goals (SDGs) and the government's development agenda. It identifies nine Investment Opportunity Areas (IOAs) across five priority sectors namely renewable resources, alternative energy, services, food and beverage, infrastructure, and technology and communications.
The Seychelles SDG Investor Map also provides valuable insights and data to private stakeholders, enabling them to make informed investment decisions that generate positive impacts and financial returns. Additionally, it highlights emerging IOAs such as waste management and circularity, local agricultural production, semi-industrial commercial fishing, and digital transformation.
The launch of the Seychelles SDG Investor Map reflects Seychelles government's recognition of the need for collaboration with the private sector to achieve the ambitious goals outlined in the country's National Development Strategy. By strategically directing capital towards areas of priority, the government aims to make substantial progress in realizing the development targets.
Mr. Wavel Ramkalawan, President of the Republic of Seychelles, acknowledged that both national and international partnerships will play a vital role in achieving the goals of the National Development Strategy and the SDGs. “The private sector has a fundamental role to play if we are to achieve the SDGs and ensure sustainable economic growth and poverty reduction. Let us therefore recognize this valuable partner; let us create an environment that will allow the private sector the space to operate in order to get its rightful place as the driver of sustainable growth,” said the President.
Ms. Devika Vidot, Minister of Investment, Entrepreneurship and Industry reiterated the Government’s commitment to support the Private sector in the operationalization of the Seychelles SDG Investor Map. “Government will take the advantage of the momentum gathered to establish formal engagement structures to find solutions and overcome forthcoming challenges”, said Minister Vidot.
"For the Seychelles private sector, this map is a promising opportunity to mobilize resources and technology, expand their businesses, and tap into emerging markets, including those within the African Continental Free Trade Area.” said Ms. Amanda Serumaga, UNDP Resident Representative for Mauritius and Seychelles. The Resident Representative acknowledged the country’s political commitment to achieving the SDGs demonstrated by the endorsement of the SDG Investor Map at cabinet level.
Mr. Oliver Bastienne, Chairman of the Seychelles Chamber of Commerce and Investment (SCCI), echoed the words of the President, calling for enhanced partnerships between the Government and the private sector for a successful implementation of the Seychelles SDG Investor Map. “To empower the private sector to drive this impactful development, we need serious engagement about the operationalization of the map and unblocking the constraints in private sector development”, said Mr Bastienne.
The Seychelles SDG Investor Map promotes transparency and accountability by supporting the private sector in directing capital towards SDG priority areas. It enables public-private financing dialogues and facilitates private participation in SDG-aligned public investments, such as SDG corporate bonds and public-private partnerships. These mechanisms help translate national development priorities into investor language and optimize the use of limited public resources.
The development of the Seychelles SDG Investor Map was supported by UNDP's Africa Sustainable Finance Hub, SDG Impact, and the UNDP Istanbul International Centre for Private Sector in Development (ICPSD). It is part of UNDP's wider efforts to develop SDG Investor Maps for multiple countries in Africa, including Seychelles.
The findings of the country-specific investment information are freely available on the global SDG Investor Platform at https://sdginvestorplatform.undp.org and its Seychelles Country Page: https://sdginvestorplatform.undp.org/country/seychelles.
Download the summarised prospectus of the Seychelles SDG Investor Map:
Download the Seychelles SDG Investor Map Summary of Findings (technical report): https://www.undp.org/mauritius-seychelles/publications/seychelles-sdg-investor-map-summary-findings
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