Financial Sector

The governance of Public Enterprises in Seychelles is anchored in the Public Enterprises Act 2023, supported by national standards of transparency, accountability, and responsible management of public resources.
The Public Enterprise Monitoring Commission (PEMC) plays a key oversight role, ensuring that Public Enterprises meet statutory obligations, uphold good governance practices, and remain aligned with national policy objectives.

The framework promotes:

  • Transparency in decision-making
  • Accountability to government and the public
  • Sound financial management and sustainability
  • Efficiency and value for money
  • Ethical conduct and integrity
  • Alignment with national development priorities and the SDGs

 

Leadership Structure of Public Enterprises

Public Enterprises are governed through a dual leadership structure:

Board of Directors

The Board provides strategic direction, ensures effective oversight of management, and safeguards the long-term interests of the entity. Its responsibilities include:

  • Setting strategic goals and policies
  • Overseeing financial and operational performance
  • Ensuring compliance with legislation and governance standards
  • Managing key risks
  • Upholding ethical leadership and responsible stewardship

Board members are appointed by the office of the President as per Section 57 of the PE Act 2023.

Chief Executive Officer (CEO)

The CEO leads the day-to-day operations and ensures that the Board’s decisions and strategic priorities are effectively implemented. Key responsibilities include:

  • Driving operational performance
  • Leading and managing staff
  • Ensuring service delivery excellence
  • Maintaining financial discipline
  • Engaging stakeholders and customers
  • Promoting innovation and continuous improvement

CEOs are appointed through a competitive process as per Section 75 of the PE Act 2023.