The state owned company, Societe Seychelloise D’Investissement, SSI, received more than R260 million as dividends in 2017.

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The state owned company, Societe Seychelloise D’Investissement, SSI, received more than R260 million as dividends in 2017. Empty The state owned company, Societe Seychelloise D’Investissement, SSI, received more than R260 million as dividends in 2017.

Post  Sirop14 on Tue Mar 05, 2019 9:16 am

The state owned company, Societe Seychelloise D’Investissement, SSI, received more than R260 million as dividends in 2017.

The company is responsible to manage investments made by the Government.

The Government of Seychelles has shares in companies such as Indian Ocean Tuna Limited, Seychelles Cable Systems Limited, Nouvobanq, and Seychelles Commercial Bank. These companies are partly owned by the Government.

The Government has 40% shares in the Indian Ocean Tuna Limited, 41% shares in the Seychelles Cable Systems Limited, 78% in Nouvobanq and 60% in the Seychelles Commercial Bank.

On the other hand, SSI also directly controls many companies which the Government of Seychelles is the sole owner and they include Bois de Rose Investment, 2020 Development (Seychelles) Ltd, Island Development Company, L’Union Estate Company, Paradis des Enfants Entertainment Limited, Petro Seychelles Limited, Seychelles Trading Company, and Seychelles Petroleum Company.

SSI’s financial report for the year 2017 shows that the investment company received R191, 100,000 from subsidiaries, R59, 036, 186 from its associates and R11,760,000 from other investments.

In total, the revenue from dividends received for the year 2017 was R261, 896, 186, which is a decrease from the previous year when SSI received dividends of R279, 684,00.

According to the report, in 2016, SSI received the majority of its dividend revenue from the subsidiaries which totaled R269, 100,000.

SSI did not receive any dividends from its associates in 2016 and it got R10,584,000 from its other investments.

At the end of 2017, SSI declared a profit of R261,444,425, compared to R280,879,592.

A dividend of R141, 170, 427 was paid to the Government compared to R250, 600,000 in the previous year.

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Sirop14

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