Role of PEMC in the Public Enterprise sector

Being the shareholder representative for the Government of Seychelles (GOS) and in line with the mission statement - “To have high performing and compliant Public Enterprises in the Seychelles” - PEMC operates under the following values:

  • Providing the best professional and ethical advice to the Ministers, Boards and Management of PEs, and other essential stakeholders.
  • Being accountable, transparent and operating with integrity in all dealings with the ministries, PEs and other essential stakeholders.
  • Promoting good governance and enforce compliance with the relevant laws, in particular the Public Enterprises Act 2023.
  • Promoting collaboration, through participation and involvement of staff and stakeholders, in decision-making.
  • Keeping abreast with the latest developments in the different sectors within which the PEs operate.

Our Responsibility

In performing our duty of overseeing Public Enterprises (PEs), the Public Enterprise Monitoring Commission (PEMC) aims to ensure the following:

  • Act as the principal agent for the Government as shareholder to monitor all aspects of the affairs of the public enterprises so as to ensure that the shareholder's wealth is being protected and maximised through the conduct of business by public enterprises
  • Agree on performance targets and to monitor and evaluate the overall performance of the public enterprises
    • Promote the efficient operation of public enterprises, taking into consideration the fiscal and benefit monitoring aspects
    • Promote ethics of good governance in all business affairs of the public enterprises, including financial matters such as, investment and budget
    • Report on the risk management strategies and governance of the public enterprises
    • Give recommendations to improve the performance and affairs of the public enterprises and thus increase the shareholder's wealth

PEMC perform these objectives with the main aim being that it ultimately serves as a catalyst in ensuring PEs ‘’are properly controlled and managed for the purpose of better performance, transparency and accountability, to improve efficiency and competitiveness of the economy, to foster and accelerate the macro-economic stability of the country and to provide for matters connected therewith”.