President Dr Patrick Herminie chaired a scheduled meeting of the Cabinet on Wednesday8th July, during which a number of legal and policy memoranda were approved.

Cabinet approved amendments to the Stamp Duty Act (Cap. 227) to modernise stamp dutyadministration, improve efficiency, strengthen revenue collection, and enhance legalcertainty. The reforms introduce automatic exemptions for transfers between spouses andbetween parents and children, extend exemptions to transfers involving companies with atleast 90% common ownership, and allow independent property valuations to be considered.Cabinet approved the establishment of the Seychelles Sovereign Investment Fund (SSIF) asa national investment institution to support strategic investments, strengthen fiscalresilience, and build long-term savings for future generations. The Fund will be establishedunder a dedicated Act and governed in accordance with international best practices toensure transparency, accountability, and sound financial management.

Cabinet approved the integration of disability-inclusive provisions into the ongoing review ofthe Employment Act to strengthen the protection and promotion of the employment rightsof persons with disabilities. The approved measures include enhanced anti-discriminationprotections, the introduction of a definition of disability, provisions for reasonableaccommodation, improved workplace accessibility, stronger monitoring and enforcementmechanisms, and better collection of disability-disaggregated employment data.

Cabinet approved the development of a comprehensive policy framework to strengtheninclusive employment opportunities for persons with disabilities in Seychelles. Theapproved policy directions include exploring public sector employment targets, incentivesfor private sector employers, supported employment programmes, enhanced vocationaltraining and skills development opportunities, workplace accessibility and accommodationsupport, and a review of disability benefit arrangements to remove disincentives toemployment.

Cabinet approved the implementation of the July 2026 Fuel Cost Adjustment, ensuring thatno tariff increase will apply to the first 400 kWh of monthly electricity consumption for alldomestic customers. The cost of this measure will be recovered through a modestadjustment to electricity consumption above 400 kWh for domestic customers, as well asthrough revised tariffs for commercial and Government consumers. This approach providesbroad-based protection for households while maintaining the financial sustainability of thePUC.

Cabinet approved amendments to the International Business Companies Act to strengthencorporate transparency and enhance Seychelles' compliance with international anti-moneylaundering and counter-terrorism financing standards ahead of the 2027 ESAAMLG MutualEvaluation. The amendments will provide public access to information on current companydirectors, require the appointment of first directors within 30 days of incorporation, andintroduce new disclosure requirements for nominee directors, reinforcing Seychelles'commitment to maintaining a transparent, credible and internationally compliant financialservices sector.

Cabinet approved the proposed policy amendments to the Trusts Act, 2021, and the draftingof the Trusts (Amendment) Bill, 2026, to strengthen Seychelles' anti-money laundering andcounter-terrorist financing framework. The amendments will enhance the transparency oftrust arrangements, improve access to beneficial ownership information for regulatory andcompliance purposes, address recommendations made by the Eastern and Southern AfricaAnti-Money Laundering Group (ESAAMLG), and reinforce Seychelles' compliance withinternational standards ahead of the 2027 Mutual Evaluation.

Cabinet approved the establishment of the African Continental Free Trade Area (AfCFTA)Digital Trade Corridor headquarters in Seychelles, positioning the country as theadministrative and operational hub for a continent-wide digital trade ecosystem. Theinitiative aims to strengthen Seychelles' role as a regional centre for digital trade, logisticsand innovation by facilitating cross-border commerce, supporting the Africa CommoditiesExchange, enhancing supply chain connectivity, and creating new opportunities forinvestment, skilled employment and economic diversification.

Cabinet approved the proposed administrative process for the Government's considerationof the recommendations contained in the Final Report of the Commission of Inquiry into theLease and Development of Assomption Island. Cabinet further approved the referral of therelevant recommendations to the respective Ministries, Departments, constitutional bodiesand statutory authorities for examination and the submission of their observations withinthirty days.