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Employment

The PE sector employed a total of 6,470 persons for the year 2017, representing a 2% increase when compared to the year 2016. Employment in the PE sector represented 14% of the total average workforce for the years 2017 and 2016 respectively.

Net Profit/Loss

The transport sector was the least profitable for 2017, recording an aggregate net loss of mSCR 90 for 2017. There was a drop of 115% in profitability from 2016 to 2017 for the transport sector, principally due to the net loss of mSCR 195 recorded by Air Seychelles. SPTC was also loss-making for 2017, having recorded consecutive losses for the period 2013 to 2017.


The energy sector recorded the highest net profit amongst the five PE sub-sectors for 2017, surpassing the financial sector. This is principally due to a 13% and 59% reduction in net profit of Nouvobanq and Seychelles Pension Fund respectively as well as a 140% increase in net profit of SEYPEC.

  Energy Sector

The PE sector employed a total of 6,470 persons for the year 2017, representing a 2% increase when compared to the year 2016. Employment in the PE sector represented 14% of the total average workforce for the years 2017 and 2016 respectively.

 Transport Sector

Air Seychelles recorded a net loss of mSCR 195 for 2017, representing a decline of mSCR 201 or 3545% when compared to 2016. The profitability has decreased significantly, specifically from the year 2016 to 2017.

Financial Sector

Services and Development Sector

The AFS 2017 of STC, L'Union Estate, and Paradis des Enfants Entertainment has not been submitted to the Commission, the PE is therefore not represented in the following figure for that period.

Total Assets

The aggregate asset base of the PEs represented 138% of nominal GDP for the year 2017 or bnSCR 28. This represents a growth of 13% compared to the year 2016.

There was relative stability in the proportion of aggregate total assets to nominal GDP for the period 2013 to 2015 with an increase in 2016. There was a decrease in the proportion of total assets of the PE sector to the nominal GDP for 2017, indicating that the asset growth in the PE sector was lower than the GDP growth for the same period.

It is to be noted that data for the year 2017 has not been received from all PEs. The figure below presents the total assets of the PEs as a percentage of GDP for the year 2013 to 2017.

Trend in Total Assets per Sector from 2013-2017

The PEs in the financial sector carried the greatest value of assets (bnSCR12.6) which comprised principally of loans and advances to customers, investments in financial assets and cash and cash equivalents, followed by PEs in the energy sector (bnSCR 10). 

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Liabilities 

Total liabilities of the PEs amounted to bnSCR 13.4 for the year 2017, representing an increase of 4% when compared to the year 2016. Total liabilities of the PEs represented approximately 68% and 66% of GDP for the years 2017 and 2016 respectively.

Liabilities 

Total liabilities of the PEs amounted to bnSCR 13.4 for the year 2017, representing an increase of 4% when compared to the year 2016. Total liabilities of the PEs represented approximately 68% and 66% of GDP for the years 2017 and 2016 respectively.

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          Public Enterprise Monitoring Commission
           3rd Floor, Sunshine House, P.O. Box 593,

          Victoria, Republic of Seychelles

 

Email:info@pemc.sc

   

    Phone: +248 4303490