The Seychelles Stock Market/Exchange as it would have been under the 1987/88 SIROP program

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The Seychelles Stock Market/Exchange as it would have been under the 1987/88 SIROP program

Post  Sirop14 on Sun Aug 05, 2012 1:00 pm

Proposed Stock Market/Exchange building

We visited that same Village Lawyer, {Everybody takes his best friend and put in on the fire place - at his practice they have hung him underneath the fire place} we have written about when we ran the Mondo Trading from  Headcorn - Kent, before the Earth quake and Tsunami of 2004/5 had some good old English Fish and chips/frits says the Belge to mark this monumental and historic moment - occasion after 36/7 years in exile of fighting top get a Stock Market/Exchange in Sechelles Seychelles- 30 years later, this is when we came to London/Britain from Austria, Strassbourg - Paris to seek political asylum. The important issues we brought over and endeavored to represent - fight for.{Kent where we have address this Historic thread is famous for its Pears, Apple and Plum, Cherry orchards - the grapes/Wine is terrible - place like Dover, Folkestones, the many Castles and Coastal Towns for the past 22 years we have grappled with those issues}

With in the plan/ those we had been in contact prior to the "South African/Mike Hoare attempted coup and later Bob Denard involvement, those others in London" born from the notion, part of the future economic plan based upon Western values, then Colonial system - economic models a Stock Market/Exchange and Free Economic Zone. The West Indies Small Island nations had already set in place such financial platform, structures and economic vehicles/systems - Then Offshore - what then President Mancham would talk about, his Ministers and political associates, business associates in Seychelles, like Mr Jack Custon, Mr Dug Scamel, the Mr Harwood, Cmdr  Tony Bentley Buckle, Mr Mike King Harmond, those from Cable and Wireless from the Expat, the Dalgety people/representation, Mr Norman Esselmont and their business Seychelles Trading - where that Pentecostal church is today, Mr Gerry Le Grand Family and Son in Law, Those expat that had the first Pest Control business in Seychelles, That British Banker who build Pirate Arms and also owned Beau Vallon Beach Hotel, Those from the Belombre Tyre Company, Mr Don Augustinus, The Osborn, that Jewish Insurance company base at Kings Gate house, Mr Peter Gill Partner - Builders Center, the Wilmott Family- Seychells Bakery, the Tobacco company, those form UCPS. Those from then Teemoljhee, the many Italian Families in then Seychelles/Developers, the Sawa Sawa Farm at Point aux Sel,  the German's Mr Bantely North East Point former Mrs Steven Properties and Mr Snitzenbaumer former German Banker - Beau Vallon development and Austrian Developers Von Oswald Family, others, Mr Schillinger German/fishing business. Mr Bill Pomeroy, Mr Hunt Deltel, North Island Developers,  those like Mr John Lacon and Mr Richard Petty of Beau Vallon Properties and Casurina Estate Development - beside several others. Mr Ali Parkar of then Premier building, his many Family Ventures. Those that ran then Seychelles Cold Storage form Denmark, the Belge Family that ran that nice and Famous -Refuge du Corsair.

We have added a few other names and families in the process of editing - Mrs Linblad of Linblad Travels, TSS Tours etc., Mr David Walsh Australian Lawyer, Mr Harry Benson - Australian, a very colorful and dynamic personality from the Old expat community, Mr Tony Duckworth represented a very Old Family in England, the Hitchcock Family furniture and Timber business did not support such idea,  Mr Cruise Wilkin of Belombre - the Treasure hunter. The Parson Family retired, Pilling Family - Jewelers, Oculist, etc.,  the Fayon Family. Talla - the Tailor, great place to converse and talk about such issues.

There is the need to state and underline very many of the Seychellois white French Families did not just did not manage to grasp and understand, such/those economic issues then - Mr Tobby Murrey, Mr Harry Savy, then Bontard Family, Mr Morel du Boil Family, Mr Raoul Nageon des Lestempt - Mr Tieno Nageon was against such development he was old Fashion, then Mr Antony D'Offay was for it but with reservation and Mr Paul and Dr Michel D'offay were skeptics, Judge Souyave Family,  the Barallon Customs, Mr Lafortune of customs,  Mr Daddy Michel, Mr Robert  Delorier - Minister's Family, the Delhomme Family, the Mouniler Family who ran today's BIOT, Mr Petty of Petty and Dumbleton understood such workings, the Chenard/ Pool & Hunt Family, the De Cauvin Family - for instance Mr Duglas Bailey who had married the property heiress was against such economic approach - Mr Henri Gonthier was a skeptic, so to the Waster Green Family, The two Savy brothers of Agriculture Department and Survey were for and against, then Mr Hodoul the father of the current children or the Troyant or the Dauban Family, Mr Jeremy Puren, Mr Danny Bonte of East Africa Insurance, Mr Eddi Wester Green/ Savy Family, Mr Nicoleson Stravens ex Minister understood, Mr Paul Pillay ex Minister did not understand, even Minister Pragassen did not quite grasp the issues - Mr Chammery Chetty did - he had been briefed and many discussions -Those form the Golden Eggs/Australia Esparon Family. The Mancham Family themselves.   Had then Seychelles stayed as it was, meaning a government of Coalition then President Mancham and PM FA Rene - all the plans were in place that Seychelles would have its/a Stock Market and Offshore long before Mauritius or any other Indian Ocean nation - may be three years after our Independence.  Those governments in then East Africa, politicians, business acquaintance and institutions of then. Our then Australia or South African important connections and friendship - big and small business.

The list of those Seychellois families who could/would have got involved in an eventual Seychelles Stock Market under the 1st Republic.  The Parcou family - merchants, Mr Merlin ex East Africa, Captain Michel ex Seychelles Police, Mr Hurbert Jubb - he was a strong advocate of Seychellois Small business, Mr Conrad Grele Chartered Accountant, Mr Raymond Mathiot of Ray's Music, The Ernestine Family ex East Africa, the Frichot Family - Mr Robert Frichot clan, Mrs Mimi Lablache of Sun Set Hotel a formidable advocate of Small business, Jivan Jetha Family and company, Mr Ben Choppy of Aro Bingo then and close friend of then Mr JR Mancham, Adam Moosa and Co,. the two Albert Families - South Mahe - Praslin, Chaka Brothers again their support for small business, Kim Koon merchants - extended family in Mauritius, Mr Deltel of Anse Royal, Minister Phillippe Jumeau and Families for and against - politic, Mr Clement de Commarmond, Editor le Seychellois another formidable advocate of small Seychellois business, Mr Sadec Rasool Auctioneer, Mr Guy Lionnet ex Agriculture Dept, Mr Laustau de Lalland, the Bedier Family of St Louis and Seychelles Brewries, the Lefevre Family of St Louis and Beau Vallon, Mr Corgat - Auctioneer, Mr Marzzochi and Family ship repairs, the Robert Family - business and important member of Seychelles Club, Old man Poponeau - property, the Roullion Family - Le Niol left Seychelles early, Mr John Mascaranas of East Africa radio then a good friend of Mr JR Mancham, Mr Beaufond of Port and Marine, Mr Norrman Mancienne of Stevedore, the Head of Seychelles Tax and Revenue - chartered accountant,  the Desaubin family - custom, Chartered Accountant Mr Bill Jackson, the Laxmambhai Builders then, ex East Africa, the Larue Family Cascade, the Valabjhi family - their business was relatively small then.The Lau Tee Family of Anse Royal, transport, traders, exporters, restaurant. Captain Tregarden former Zamzibar his great conversation and his Sister House St Louis across the Delpech House - the husband worked in the Treasury - what they talked and discussed. Mr Gilbert Palmier Garage/mechanist - great place to chat about those issues. Mr Dolfus Delorier and his Family. Mr Yacent Payet - Waterloo Soft drink producer/supplier.

Two very colorful individuals we left our Mr Soleil from Sir Lanka, his wife - later the Trianon Restaurant, Serette Str, children today, he worked in then Treasury and would have know of such issues and indeed his native country, we used to compare note between East Africa working and Seychelles then, events and approaching independence - what may and may not happen. Then we have/had the father of the two girls then, today Mrs Sara Rene former first Lady Father and Founder of the Baha'i Faith in Sechelles Seychelles. We used to converse a good deal on many issues and their support in our youth and young adult family life. Including Mr Norman Gardner the Founder of the Jehovah Witness in Seychelles, he was from East Africa and we talked about a great deal of things, business, and economy then, colonial system.   Mr Dawson Horeau - married to the sister of then Minister Chammery Chetty, what we talked about - his view of life and society, business.

Importance and impact of then education system - quality on such issues/business/thinking - White Brothers and Cluny nuns

The education quality, standard and system of Seychelles College and earlier White Brothers/Marius St Louis formed and impacted those young Seychelles of the 2nd and 3rd generation in their many approach of thinking, society, business, economy etc., the British Colonial system failed to understand them. In turn the Seychelles they helped build then.

The Regina Mundi convent, ran and managed by the Sisters of Cluny Order, the Old French, Reunion education values they gave, instilled in the young girls, later young adults and future mothers.

It is importantly due to these two education institutions which had formed previous generations, the notion of the world, regional issues and economy, Asia, Africa, Gulf Region, India, Australia and South Africa - Europe functioning.  It was not sheer arrogance as many have written and claim over the years, it was an education system to match,  prepare the young Seychellois against the world - to be competitive and to learn to strive higher and for the best.  This is today reflected in the aspiration in the Seychelles University and the very many who have  been educated across the world of Seychelles.

That was one of the positive point in the British Colonial legacy - they had wished/wanted to build/in plant  in  then Seychelles to replace the loss they were encountering in East African and Aden, Rhodesia and as such the need to have such Vehicles and Economic workings. They had talked of the Hong Kong of the Indian Ocean and East Africa, then Switzerland Model for the Indian Ocean. belong to those very few who understood such workings Then world economy 1981 - Britain was in the process of letting go its Colonies, Independence process, important/partner source of its cheap raw material, minerals, royalties, tax and agencies, companies and people that did business with then Colonial Britain. The Communist verses the Capitalist working of the Indian Ocean, Africa, Gulf Region and Asia.

What was/were discussed in then Seychelles Rotary Club, then Round Table club, then Seychelles Club and Yatch Club informal, Isolabella and Tobruk Club, Happy Youth Club - even Chez Nous Club at Point Larue/SPUP,  private, arguments over drinks and meals - radio bamboo and Sauve Souri. . Cocktail and Government parties, Young people Dances and parties - family and parents views. We had also ran one of the best and elite night Club - La Giolette for a stretch after we had resigned as the first Seychellois Deputy Manager of a large British Hotel over 125 beds.

There is the important requirement to note and take into account the views of Westminster/London how they had seen and viewed our future development, the serious ones not the cabbage heads and the such. Then Barclays Bank East Africa position,  Standard Charter what their officials, senior executives knew and discussed in private - eventually their Staffs.

Beside Tourism and Property Development - that was to be part/one of the Pillar of then Sechelles Seychelles Economy, the advocacy, debate by the internal and strategist of then DP party/government. The importance/emphasis cannot be enough underline.  As such then laws, international regulations, judiciary mechanism - their experts. We recall the many discussions with Mr Nicolson Stravens and Mr Paul Pillay on how they view and saw a future Seychelles Economy after independence. The Fishing Industry/possibilities was then an unknown entity - in its very early form/stage of setting up - those involved. They had also been banking on Oil/Gas energy exploration. As well as Bunker-age/Transhipment and Servicing large vessels, tankers, liners etc.,

For any Political faction, Groups wishing to change then Seychelles after 1977 be it in Seychelles or in Europe, South Africa, Australia, their challenges - pose how and what economic model they would adopt and set in place. Be it the South African/USA - then British Model or the French model. Particularly those International soldiers taking part had call/ask for a very clear economic Plan supported by the USA, South Africa, the UN or the French speaking entity, government - the very serious ones did not want a mess on their hands, the notion of they just going in and killing, avenging is very wrong - they wanted to take part in serious economic and political, social system change. On that they would make their fortunes and fame.

"Then Mr Gerrard Horeau ex Seminarian, future Leader of Opposition in exile, SNM/MPR,  worked in the Town Planning Department under Mr Rene who was a gifted person - as such he must have come into contact with many of the above mention person, as in Old Seychelles how we talked and conversed over issues and possibilities, eventualities."

History of our Stock Market/Exchange

Many who do not understand such aspiration and economic issues will judge it an obsession on our part for the near crusade we undertook, became involved, engaged in - those who understood the notion of crusade in proper term/definitions. To date beside the issues we have presented above 1970's onward eventually those who know and entertained such ideas/visions,  being the very first and serious attempt/formulation at government and national, regional and international level. It would be interesting for those youth of today, future executives to search the archives, those wishing to study and work in this field to carry due research, discuss, dig around not take up, lap up all the crap, garbage that the Communist/Socialist - SPPF government have harvested and deposited as our national archives information.

In fact if they are diligent and search deep enough they may encounter documents and British Policy formulation as far back as 1950/60 giving hints, indication what those Colonial administrators had in mind and planned for the future. If and when  Independence came to East Africa and Eden.

Though we were young and coy, what discussions we undertook in Austria, Germany France, Belgium 1978 onwards, the view of those who worked and ran such entities. We had kept in mind, endeavored to remember those issues particularly when addressing government officials, diplomats, the media and important business man. Let alone those involved in the Intelligence Services and such Operation/activities.

Particularly our discussions, debate with then officials of UNIDO and World Bank in old Vienna building on the Ring near the palace and later the International conference Center itself. Those from East Africa - Kenya, then Economic and political block. Particularly the then Head of the UN/UNIDO/World Bank for the Indian Ocean Mr David Rakotopare - having worked as the Head of the Malagasy Central Bank and related to the President  of Madagascar.

What drove us/driving us to research and present that concept for "Indian Ocean Industrial Investment and Promotion Center" those form the South African many officials, the USA, French, British, African, Austrian who wondered what was driving us. Those from  Dr Ferrari Ministry, President FA Rene himself, his associated Mr G M Ricci and many others, be they the then USSR, COMECON friends.

What about those form the then Creditanstalt Vienna, Central Office, the First, the Private banks the efforts we had made  to meet and discuss with them such ideas and possibilities, those from the USA Stock Market in Vienna workings, those we had began out Training with in this field, Austrians and South Africans. Then investment and market regulations - workings and benchmarks. Those form University of  Vienna - High Management Faculty.

As such when we came to London/forced compel to come to London and seek political asylum, the very few form the exile faction we have have shared some of knowledge and what we had learnt. We made it a point to work/share our knowledge with those who worked in the Sector and business - became involved and engaged.

Given that there were at least four strong official political factions in exile, SNM/MPR,  DP, Mr Phillippe Boulle Faction, our Own faction as well as linkage to other  factions what those-they did understand in such greater workings in the Seychelles of pre Independence, in the exile after 1977 and through out our exile until 1991.

Over the past 21 years much of the Policy formulation with regards to SNM/MPR working have been made public - if any notes is available of meeting for serious long term economic formulation for Seychelles changes and eventualities and the serious/hard debate of a proposed Stock Market/Exchange and Offshore Vehicles, Mechanism.

We knew and was very aware that DP, then led by Minister David Joubert and his supporters had such a Plan and objective, later then quasi independent President Mancham own formulation his Mouvement Pour La Democracy - certainly would have kept/held on to the Economic formulation - what was being discussed on the Streets, Hotel lounges, Restaurants, night clubs other clubs and embassy.

Even though we have had very many meetings and discussions with Mr Phillippe Boulle did not get to hear his views on a greater Seychelles Economy in the events of any change - beside what he share with his activist and supporters. Those who were attempting endeavoring to lead such factions and change usually kept such important issues and formulation very closely guarded and tight lips.  Fear that one Faction would get a better advantage and be one step ahead of the game - endeavors.

In our case we had publicized that UN/World Bank and UNIDO research however brief. This in the face of then Communist Block. Seychelles workings, the Military important network, support and resources a big not to be underestimated everywhere one went and worked and whatever one did. Chinese, COMECON Block/Warsaw Resources, that of OAU and the Pan African   workings, the Arab Region, North Africa, Asia and Latin America. Beside Europe.

Since the return of Multiparty in 1991 based upon that SIROP exile/refugee program its economic part/entity - the then formulation of a Stock Market/Exchange, Offshore and Economic Zone. Yet again all those who had met in Germany and had return to Seychelles, the debate, constitutional changes and economic changes they were demanding.

Most important - for the world and we mean world to take due note - though this was part of the SIROP plan/program, president FA Rene was opposed so to very many of those politicians who had accepted and agreed to the return of Multi party politic. It was the very nature of his Political belief, Society, doing business and economy - the formulation of the Socialist thinking and workings.  Individual like Mr Giovanni Mario Ricci was for as he had helped set up the Central bank, Seychelles Development Bank and the Economic Free zone - Seychelles Offshore later. Mr Guy Morel the first historic Governor of Seychelles Central Bank supported the idea.

It took the mega economic meltdown of 1995 to convinced President FA Rene that to make that SIROP program work, "THE CHANGES HE HAD EMBARKED UPON" - and certainly no return, the need to have a Stock Market/Exchange for Seychelles, then Privatization in ex USSR, in China not even dared discussed, India, Germany former East Germany, North Africa and Arab Countries namely Iraq - the dynamic changing and driving the world and regional Indian Ocean Economy, that of Asia he had partnered with and made Friends.

Most important for History, those young graduates and future who have been fed with so much lies and crap and propaganda. By 1995 it was like a big orgy of blood drinking and carnivorous feasting all those form former Communist USSR, COMECON who had changed their belief for the sake of acquiring big fortunes and wealth not because they were convinced, they were Communist and face with the situation in the world - no options and those who were in power, they used such individuals to carry, front for them in the so call process of privatization.  They were the same individuals safe in  the form of so call Capitalist and they want ted to develop their Stock Markets, Exchanges and such national and international mechanism, Finance and banking mechanism.

Over the past 21 years one have talked very little of the Old debts from the USSR and COMECON era - we were and have been part of those who formulated the options if/in the eventual change the Economic and Financial formulation of USSR, Germany those ex COMECON countries their debts be it by the International Credits Establishments, Grantors, Doners etc.  Those involved then in such big multimillion business and transaction and the Western, Asian and African banks.  All those who had not been involved in such formulation and as such did not know the management mechanism - it had been easy to cash in acquire a state owned business very cheap/net to nothing but to manage them/it was another issue/entity.  That was when the mega global melt down came about.  Seychelles President FA Rene had many such friendsOver the past 21 years one have talked very little of the Old debts from the USSR and COMECON era - we were and have been part of those who formulated the options if/in the eventual change the Economic and Financial formulation of USSR, Germany those ex COMECON countries their debts be it by the International Credits Establishments, Grantors, Doners etc.  Those involved then in such big multi-million business and transaction and the Western, Asian and African banks.  All those who had not been involved in such formulation and as such did not know the management mechanism - it had been easy to cash in acquire a state owned business very cheap/net to nothing but to manage them/it was another issue/entity.  That was when the mega global melt down came about.  Seychelles President FA Rene had many such friends - indeed some of the many Important ex COMECON and  USSR state entity and Party entity that had used Seychelles, President FA Rene to channel, manage some of these multi $billions process, transactions and changes, privatizations.  Hence our address to the world and Seychellois Nation - it is not normal for an individual as our person who/to have played such important role and when we endeavored to have 13 attempted meetings with him no regrets or remorse. The money President FA Rene and his associate is due to our person in the normal of such working given that we have not only all four of the world/International Chartered Accountant Groups we also the important Mauritius De Chazel du Mee etc   ---- their benchmark and practice.

It was then that those involved formulated the issues of a Seychelles - Mauritius - Palestine - Zambia Stock Market/Exchange, the global media circus by the Palestinian issues and Seychelles what we have written and President FA Rene decision to get then OAU involved - having stated his economic preference that they first do a Study which cost Rs 500,000. Eventually more. The conclusion of that Research and what ensues - that was part of our reason for getting involved that OAU becomes African Union. To change the terrible, highly corrupted workings of the OAU to more then European and international workings - the AU issues.  A good question to ask/pose had the OAU remind what it was would President JA Michel - the SPPF/PL have opted for  a Stock Market/Exchange.

Since the process of change in African, the rapid process, call by many African government for some kind of Vehicle/mechanism such as a Stock Market or Exchange. The purpose and functionality in their economy, building the financial structures, vehicles to raise finance, get its citizens involve, engage in benefiting, the prosperity of the nation  - particularly in the very fast developing many global mechanism and vehicles for managing national economy, Central banks, national development banks, resources, energy, local and international markets - financial options. As such how Africa/AU is and have develop its own unique such vehicles and mechanism that we know and aware of - when we say very unique, as the Russian, the ex COMECON, the Chinese, the Asian, the Latin American, the Gulf Regions nations and Europe.

Prior to President F A Rene stepping down - we had been pressuring him to adopt important aspect of the Old/our pre independence approach and the very many connections,, issues we threw his way and came about.  Then Minister JA Michel, Heinz coming to Seychelles and Lehman brothers among others.  We had been endeavoring to put together a Team in Seychelles of Seychellois who would take the responsibilities - help set in place the due vehicle/mechanism, they include exile from DP, MPR, SPPF, Boulle faction and SNP using international expertise to back and support them. As the Mauritian/Mauritius had done. They squabble and the inter-fight - President FA Rene got fed up and desperate - that was when he decided to formulate his won options - working with the Anglo Rand Group. We do believe the Russian had offered help too.

We do not wish to enter into the political discussion/arguments - however, the wrong decision by President FA Rene in the face of events to sell/pass on Printect to Dr Ramadoos - what the real issues were and the Gopal Family we had worked a long time with.  That was when events began moving around the NDP Office and the challenges who would take control and Leadership. In their frustration, desperation and fed up - taking due notice of then PM Blair relation with Seychelles, the issues he supported - the decision by President Fa Rene to use/accept that Indian multimillionaire offer that they initiate and set up the mechanism/vehicle for the Seychelles Stock Market - we had had discussion with the Offshore and Economic Free zone entity in Seychelles too.  Beside the global economic situation - we/those who joined hands together in Seychelles who spelt/told President FA Rene a blunt no, spillover in the greater public, India greater politic, Africa - Mauritius, USA, Asia and Europe. It is appropriate and important that those Indian entities were not given the monopoly to start that Stock exchange/Market in Seychelles with our having to address the Social politic, the running of Seychelles everyday, the pain, anger and frustration of the inhabitants.

In the case of the South Africa, Anglo Rand, what we have address, our important partnership, friendship and such association over the past 30 years almost - yet they refused to recognize, take us seriously - we had supported that development plan Phase lll - we wrote, address, explained, used many other channel to communicate and try and convinced them who we were. Their belief that because you are big, you are strong and capable of managing and controlling smaller partners and associates. We had to put our foot down, we came to Seychelles and tried to explain and address many - including indirectly those from today's Tropi -X (Seychelles) the owners of that building and those form MCB. The former CEO of Barclays Mr F Horeau and others.  We address the existence of past workings and that program - some of the mismanagement issues. In our communication to the Anglo Rand had stated that if they failed to grasp our important role in the political and economic change of Seychelles, beside important issues of south Africa, East Africa, the Indian ocean, Gulf Region - they were heading into very serious trouble as far as that Stock Market/Exchange. President JA Michel had already taken Office as President - what we talked about with very many in Seychelles in 2009.

The constellation as to who would be involved in running that Stock Market./Exchange is crucial and very important - for instance those South African, Anglo Rand laid emphasis upon their South African performance and over all in Africa and the region - what they were up to and getting cheap money to do the Development in Seychelles. Then controlling our economy, politic and many , many important issues in Seychelles, the Indian ocean and regional Africa.  The Blogs have made some very strong points an comments. Yet the South African have been our friends for a very long time.  They would have impacted our Central bank workings, Development banks along the line of the South African current ANC politic and policy.

With regard to the Tropi - X ( Seychelles) the emphasis is importantly USA, beside the issues of the Somali Pirate and the Arab investing in Seychelles and the Oil/future energy politic of Seychelles, those USA companies involved, the important national assets of our nation they have got hold of. At this stage is is right to say they recent protocol between Seychelles and Mauritius will help to balance this/bring some sanity - in Mauritius they work completely differently and the Seychelles parties will have to confer with them on some of the more important issues before taking decision.

We have noted the important Nigerian involvements as such Nigeria being and having the most important economy in Africa, their position in the energy sector in Africa and as such politic - those calling for an end to the corruption, all the wealth of Nigeria is being depleted, the few who control Nigeria energy assets and the people suffer. Events fast developing there.

We have noted also the important structures of the AU Market and Exchange mechanism, so call Regulation mechanism being build into our Seychelles Stock Exchange/Market mechanism. The Benchmark. We want to underline President Obama and USA call the need to eradicate the high level of corruption in Africa at all levels and sector.

There is the need to say/state that Seychelles government is and form part of this landscape and situation. They came to power on the back of important economic and financial manipulation. The National media is highly if not utterly corrupted. Most important how they have been bending the rules, blinding the international communities and such - that we do not have an exile/refugee issues the fate of some 21,000 over the past 35 years and those who are come in got take their rightful places - no where in Africa would this be tolerated and allowed.  Then there is the working of our important diaspora community how they work and their contributions to our national economy and world working - Seychelles government of the SPPF/PL refuse to recognize they exist and their national contributions.  This is cause and reason for very serious confrontation.

We would have wish to discuss how the Markets and Exchanges of former COMECON, the USSR and China, in instant North Africa and Gulf Region had events taken a different course. This can still be achieved. The world, Europe market and Economic woes.  There are very many in Seychelles who understand and hear our call and cry yet they will do nothing .


What about the benefits and negative impacts of the Stock Exchange/Market on Seychelles

We have tried to listen via SBC and the available discussion all the participants, actors and would be actors in the future Seychelles Stock Exchange and Market. Firstly there are too many Registered Offshore entities in Seychelles who can and have the capacity to become engage in such eventual workings and the objective of creating wealth, given possibilities and means to the native Seychelles to decided and control their destiny is diminish/eroded. The emphasis like in Mauritius to encourage and make it possible that Seychellois natives are trained and helped to play very active role in such workings.

The vast majority in Seychelles just do  not understand how many of those highly complicated and complex mechanism works - for instance in the Oil and commodity futures example we have not started oil and energy exploration and those involved in such mechanism and financial workings, our fishing industry and tourism/Travel. ( Over the past 10 year in relation to energy, Food availability and pricing, what cause and control price hike/workings) The Black Seychellois mind function different to the White Seychellois mind, one question and the other just follow instructions and their education.  What is taking place in Africa today as a results. Why the Indians /Asians and foreigners are taking over Seychelles, their country completely.

Beside what knowledge we have acquired in Seychelles in then 1970's to understand such issues, our efforts to understand this working at UN/World Bank and IMF or African Union and EU relevant economic and financial functionality. Meaning the real benefits to the citizens and people.  It will inevitable create class and division - by the way we had tackled some of such issues with the Saddam Hussein government, that of Libya, other Gulf  Region state, India and china.

There is and will be the important need requirement to educate, start educating our young people, children and those adults population - certainly not by the government available resource - the NGO's ought and should become involved and seek outside help to formulate and discuss the challenges - but not just any outside help.

The political parties should and ought to encourage greater public debate and discussions - use TV, Radio and written media to address the very uncertain future and such workings. Not that they join those international and regional players at the expense of the people , their supporters and electorate to turn them into milk cows.

Beside the government appointed Boards, the need to study how things have worked in the West Indies, not the best how they have set up national ombudsman and other framework to make those international players accountable - not to wait when something goes wrong and thing fall apart or a mega scandal - we the Seychelles are very unique people as such our workings.

The existing media ought to dedicate quality space to addressing those issues without having to pay favors, influenced by corrupted big money or bullying. Election process.

Most important the need and requirement to note and pay attention to the voice of those 21,000 exile/refugee and their Rights. Along with our Diaspora community which have helped to build that Seychelles we are so proud of. Now that the government of SPPF?PL is committed to this national, regional and international direction - the next big battle and deciding crusade is the "Two tier assembly/parliament/Senate system"  Should President JA Michel be wise and those advising and formulating the era after his departure form Office debate and pass legislation for a "two tier Assembly/parliament/senate"

The current political constellation is very inadequate and ti does not leave any margin/play room for other actors and political opposition - serious political opposition. Most important should they find themselves in opposition - their call for greater participation in any government and national working as they have been used to - if/should this not be available what can and will inevitable ensue, riots, disorder, violence and death - killing.  The Seychelles have so far managed to stay away, avoided this plague which affects West Indian Nation workings and their Stock Markets/Exchanges - Financial functionality.

What will it be like for those companies, entities that get Listed

Our Interests in Mauritius lies in the fact that many Seychelleois have their ancestry coming form Mauritius, the Old French comptoir - East India Company how things were worked, managed and went wrong. Our regional ancestral French and Francophone economic workings - the facts that over the past 35 years out of Seychelles we/I have done, undertaken a very great deal of such workings.

Very little is written about the initiation and start of their Stock Market and exchanges and my views that there ought to have been more written, explained.

For those companies, entities that will get listed, chooses to be listed unlike Mauritius the early challenges, the uncertainty for some and certainty for others, the available experts, lawyers, firm of chartered accountants, auditors, South African, British, French and Australian experts.

In the Mauritius example - it proved beyond expectation for all the companies that got listed and joined the first batch. This provided the capitalization mechanism for their grown, new money and the fact that where in the past they had rely on their Investors/selected groups and types - they were able to attract investors beyond Mauritius, shareholders and how, the manner they contributed to building/dynamism a given company they had invested in.

We could have made a list of those entities we judge could/will be listed, based upon the 1995 Seychelles government - FA Rene listing criteria, then the development after the failed attempt - what those that went through. That Indian multi billionaire attempts with Seychelles government and Anglo Rand.

As well as our own evaluation for that SIROP exile program prospective.

To try and avoid the errors made in Mauritius and certainly in Colombo and certain African countries of which Seychelles is drawing its example. The need to give a greater opportunity to small, medium and larger entities - to to set in place and exclusion  system by having an A, B, C share listing. With today's technology like in the USA the small stocks how in many instance very popular with investors and how small company unknown have been able to build, perform and become reasonable good business and the capital it has raised for its owners.

Gearing Mechanism  - Instruments

We/I have addressed some of the issues at the last thread. What the so call experts and the media say, explain by and about gearing mechanism, what one learn at college and in class room and the reality.

Those in Europe, London, Asia, Africa, Gulf region, India in and over the past 21 years have used many criteria to gear, drive their Markets in relation to our issues and such workings, how it is done - what the so call experts and politicians write about - statements they make at the end of the day they drop us like a sack of potato - the ruthless exploitation.

We will be entering a new era of  economic and monetary workings. this is a real situation and in many instance if miss manage those who will lost a great/good deal of money. There exist a great deal of science and discipline to manage, control and fireproof such workings and yet. We have seen and daily witness how some of the most advance and sophisticated with genius at their heads fails and perform badly.

There in lies the opportunity for young Seychellois as in Mauritius , Reunion who/to understand why and what make a share perform and build a decent advisory/consultancy business - Service.

Statistics

We just do not have the time to research properly in the vast quantity of National statistic from Seychelles Central bank, Barclays, SIBA, Seychelles Development Bank, the Offshore sector, the UNDP, the IMF, African Development Bank, ECOWAS, East Africa economic data/statistics, COI data, RIM Association data, Commonwealth and the Francophone to cite just a few and make prognosis/forecast as other have requested we do. KPMG reports and very many others. What it requires today to run a Small Nation economy, resources to sieve the large amount of information, statistics and present them in manner that is applicable and usable to the simple individuals as well as the advance users.

There is an important reminder to underline of the need to work with serious statistics, those who can and have the capacity. In Seychelles we have the National Bureau of Statistics and their functionality. The quality of information and how they are input and managed. Again the opportunity of young Seychellois to develop adequate skills and expertise in this given field with the view of contributing positively and seriously to building the nation and nation role in the region and the world - not false data and corrupted standards as  in the case of many African Countries.

Connectivity - the Fiber Optic as against the Satellite

One of the pre requirement is fast, secure and good connectivity to work with Stock Market information etc. In the Seychelles of 1980's when those of us were working/groping with such issues the need to now the capacity and functionality of then Seychelles communication capabilities. We made it a point to follow and monitor such issues.

Had any successful military option worked, they would have had to rely on Telex old Fashion system and Fax to transmit information, this slow, in instance not safe and frustrating, beside the phone then Seychelles - we had looked at advance Satellite systems.

Now it is interesting and not to forget that President FA Rene had partnered with some Iranian entity just for this purpose beside  -renting Satellite slot, the USAF Dome was still available and up at La Miser.

Things took a very different and fast turn by 1995 when the study for a Seychelles Stock Market was undertaken - requirement was modern telecommunication, Broad band speed which had began to be deploy across Africa and the region. Those who got highly encouraged, inspired and had hope to help build Seychelles - those form Space and Atlast their very hard work in setting up the first broadband system in Seychelles admittedly by Satellite. Cable and Wireless developed their own capacity and so to Airtel arrival helped contributed greatly so that when those around Anglo Rand and indeed our self considered venturing, getting the right people/parties and resources together in 2004 the system available would have been adequate though slow.

Again those who just refuse to grasp and understand such issues - the reason we had joined PM Blair and those in EU to initiate that Pan African undersea cable high speed connection for Portugal so as to give Africa, the Indian Ocean adequate connectivity for this very purpose. However as transpired in Seychelles, EU, the USA those who punished us and we did not get the funding, green light for this project until 2010, negotiation beginning in 2011.  Then /by then the large availability of such undersea connectivity and Seychelles politic/reason to choose the Tanzania connection which supposedly came into function in August 2012.

The regional entities, the government and the media have not inform the greater public of its deployment proper or the Minister for information and IT.

There is the need to underline that Seychelles government of the SPPF/{L have dragged their feet and been very slow in passing and introducing the relevant Laws and regulation for the Central Bank and Securities and Exchange Regulations to suit their politic and interests.  

Finally for those interested to make that Stock exchange and market work the requirement and need to understand why those colonial expats and our French ancestors debated and fought long to formulate this concept and option. We are not very clever we are building on their foundations and experiences. Seychelles, the COI, Mauritius are calling for a more important role/working of those two countries in the future of the Indian Ocean and the region. A great deal of hard work remain to be done and will require due vigilance by everybody, all those who care and share the Seychelles dream - that our Stock market /exchange does not become a mad house and stealing ground for the few.

Only with such firm decision, conviction can and will the Seychellois defend itself for those greedy exploiters, those who because they have vast armies, diplomatic and political clout judge they can dictate and everybody will/must listen. There is the important requirement to prepare and put into place with that Stock exchange.Market development mechanism which will manage the income any income for any energy/oil exploration - the impacts on out citizens, the young people, the elderly, the exiles, the refugee and the diaspora community beside the new influx of migrants and new citizens.

Most important we have all seen for the past 21 years how wars become inevitable, those who judge their right to start wars to disrupt other nations economy, destroy their well or reasonably well good working system, financial and economic past for their own agenda. Particularly the consequences on the North Africa economy, the Trans Spanish Morocco link, the Region Med Basin Greater economic working and future development of African and the Indian Ocean Region.  We have/ought to have learn that with the issues of the Somali pirate and Lehman brother when nation become involve and engage in highly corrupted mechanism and system what will/can inevitable happen end up with. What about the Travel and Tourist Industry reason for another good Blog.

Mechanism for appraising values/worth of the share of those who will be listed and join

Not wishing to side tract or distract anybody. We read and noted that in 1995 we had been offered the possibility to bid/purchase D'Aross involving President FA Rene Office for $10 millions. The L'Oreal Family acquired it for $15 millions. In the news they sold it for $60 millions - this is a 300 % price hike on the original purchase.

Our question to everybody in Seychelles Sechelles today, that SIROP program concept-ed in 1988 was worth between $500 - $800 millions. Then price of property in Seychelles, Value of houses etc, business.  In 1995 the net-worth and value of that Program as we discussed  with KPMG in Kent, three international firm of chartered accountants and lawyers. The Program had been successful in part and as such all the many merchants families, hotels, small business owners who had began to rip the benefits - that Reclamation project had become to be implemented, those who lampooned and ask where it the money going to come from and the net worth of the reclamation then in 1995 - beside other important developments. Infrastructures. Those merchants and business entities in Seychelles who had began to recoup and regain their former business, near bankrupt, their evaluation and banks by the same token that SIROP program net-worth in gross percentage, beside and as well the many highly important regional and international economic, finance and market issues it had driven, the Privatization in USSR, the COMECON, Asia to add a net-worth of 100% would not be improper - unreasonable.

These are issues we had wished and wanted to discuss with President FA Rene - hear his arguments. We are now in 2012, those who recall the farce/fraud of Pinnacle Holding how shortly after they had acquired that Island for development their shares and portfolio shot up - they have a right to undertake such devious manipulation. manner of workings - we as nation and those 21,000 exile/refugee have not such right - we get threaten with Retention, kidnap and locked up in the USA, untried and threatened and bully with all kinds of Threats and accusations and methods. Just so those can control and rip us of and our nation. Come 2009 when we last visited Seychelles, the issues of Barclays closing down their operation in Seychelles 2004/5, they had stayed the position of all the Bankers then, the Offshore and the Economic zone what had supported, driven and sustained their growth, workings if not that SIROP program as they revise their working and net worth the National net-worth of that SIROP program  to add, seek and demand that a further 100% on its values be added would not be wrong and improper - yet the attitude of the Government, their Officials and all parties concern. ( $4.5 billion)

Over the past 21 years have been addressing the net-worth, values of that SIROP program to many parties/relevant institutions and personalities in London, Paris, Berlin, Rome, Bruxelles, Amsterdam, Moscow and Beijing or for that matter in Adis ababa. Their respective reaction and attitude.

Since 2011, we have been calling and seeking got register that Program in Seychelles and Bruxelles, the position of the international institutions the highly corrupted practice - it is ok if we go ahead and shout, write but not demand that there is a review and accountable process. The statement that this program is half completed particularly the exile themselves, their families and children what it will take and cost by today's standard and norm another $500 millions.

There is no excuse in Seychelles today, we have all big four firm of Chartered accountant with office representation in Seychelles - added the representation of De Chazal du Mee the Mauritius African firm and their expertise/capacity.  The net worth of this program today in view of the World bank and IMF reports and no where does anybody mention or dare to mention it  Where in the world have one heard of such a situation safe Seychelles. We have never been paid a cent as thank your, given a salary or paid royalty - yet the threats persist as they do thing in Seychelles - they will have us killed or will be killed using the latest technique "the use and abuse of that infernal Satanic rage, vache folle etc.".

Conclusion

Given the progress that Seychelles have made and achieved, the relevancy and importance to raise very Ernst and hard discussion with regard to evaluating and there after pursuing the completion of that Program.

Having explained and stated the impacts on Seychelles economic workings in the 1995 and President FA Rene was more able to manage complexities. Should this program be somehow dismantle or complexes develop that cause the major malfunction of the Seychelles economy, regional and African Union and this include that Stock Market cannot understand the folly of those who are currently engage in running Seychelles politic, business and economy sustaining their argument. Hence our conclusion it is imperative that those involve who understand the greater working of business form the Tropi- X (Seychelles) enter into active discussion with our exile/refugees, find consensus and endeavor to work for the common interest of our nation, the refuges, the region and Africa.


http://sirop-cdu-alliance-snm.blogspot.co.uk/2012/08/the-seychelles-stock-marketexchange-as.html

Seychelles Securities Exchange (Trop-X)   Very poor history information on the first attempt by Seychelles government of FA Rene
https://en.wikipedia.org/wiki/Seychelles_Securities_Exchange_(Trop-X)


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Trop-X announces new products and equities listings

Post  Sirop14 on Fri Mar 28, 2014 8:12 pm

Seychelles Securities Exchange

28-March-2014
Trop-X announces new products and equities listings
The Seychelles Securities Exchange (‘Trop-X’) has announced new products as well as new equities listings planned over the next 30 days.

The first of the three new equities listing will be a Luxembourg company which will be the first foreign company, the first Euro denominated and the first under the “Specialist Securities” section of the Trop-X listing requirements.
The second new listing will be its first USD and first Venture Capital Board listing.
Lastly, Trop-X will be adding its first SME Board listing which will be the second local Seychelles company listing.
Along with the listing of the Sacos Group to the main board last year, Trop-X will now have a listing on each of its three equities “boards”, listings in three different currencies and a “Specialist Securities” listing which is also a foreign company proving the practical application and flexibility of its listing requirements.
Trop-X has also added three new listing sponsors (“Sponsor Advisors”) over the last six months and is seeing increasing interest from investors, investment banking firms, brokers and issuers stretching from Europe and Africa to Asia.
Earlier this year, Trop-X obtained regulatory approval of amendments to the listing requirements from the non-banking financial services regulator, the Financial Services Authority, to cater for several new products.
In addition to Specialist Securities mentioned above, the changes now allow Trop-X to cater for the launch of a planned OTC Equities Board, Listed Derivatives Securities Board as well as Debt Securities.
An official announcement will be made in the coming weeks regarding the launch of 112 new highly liquid USD denominated and settled derivatives securities (planned to increase to 612 by end of the year) to the Listed Derivatives Securities Board.
This exciting product has been under development by Trop-X for some three years.
Contributed

http://www.nation.sc/article.html?id=241155

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Trop-X gets Correspondent Membership of World Federation of Exchanges

Post  Sirop14 on Wed Jul 16, 2014 7:35 am

Trop-X gets Correspondent Membership of World Federation of Exchanges

16-July-2014
The Seychelles Securities Exchange (Trop-X) has been formally accepted as a Correspondent Member of the World Federation of Exchanges (WFE).

Trop-X’s chief executive Bobby Brantley explained that the WFE plays a central role in promoting standards for the securities industry.

“Our Correspondent Member status allows us access to valuable resources to continue our development. Trop-X seeks to be a full member of WFE and we are already well underway in terms of meeting the qualifying criteria for full membership status,” he said.

The WFE also acts as an international forum to share knowledge and information providing statistical reports and business support for its members.

WFE members include such prestigious exchanges such as Deutshe Bourse, NASDAQ and the Johannesburg Stock Exchange.

According to Mr Brantley the move is a welcomed sign of recognition of the importance of the Seychelles Securities Exchange to the economy of Seychelles and the potential for growth of the capital markets of Seychelles.

Mr Brantley explained that full WFE membership is expected to take two to three more years and is partly dependent on the Financial Services Authority (FSA) becoming a member of the International Organisation of Securities Commission (IOSCO).

FSA’s chief executive Wendy Pierre commended Trop-X on this first step to full membership, stating that full WFE membership “...will no doubt contribute towards the national effort of consolidating the position of Seychelles as a hub within the region for the provision of financial services”.

With the upcoming launch of the Derivatives Board, Mr Brantley stated that the Exchange will be making an application to the International Swaps and Derivatives Association (ISDA) in the near term.

The ISDA has over 800 members spanning 64 countries and six continents including nearly every major financial institution engaged in derivatives business.

Trop-X is also working closely with Seychelles stakeholders toward the adoption of the ISDA Model Netting Act framework which has been widely adopted by countries globally and is important to Seychelles development as a financial centre.

Trop-X launched operations in August 2013 with the first listing to its Main Board of the SACOS Group. Since then, it has listed Bodco Ltd and a further technical listing of a Luxembourg based company. The Exchange is currently processing two further listing applications and will be launching its Derivatives Board in the coming weeks.

Source Seychelles Nation

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Seychelles Breweries is on Trop-X!

Post  Sirop14 on Fri Jul 01, 2016 9:29 pm

Seychelles Breweries is on Trop-X!

01-July-2016





Local brewery, Seychelles Breweries Limited, has achieved an important milestone in its history. The company has gone live on the Trop-X Stock Exchange.
This was during a ceremony at the Trop-X office at Eden Island yesterday in the presence of Seychelles Breweries managing director Nick Cook, Bobby Brentley Jr., chief executive of Trop-X, sponsors, officials and staff of both organisations.
As is customary where the opening and closing bells mark the beginning and the end of each trading day, a bell was rung before beginning the ceremony.

http://www.nation.sc/article.html?id=250028

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Trop-X (Seychelles) Ltd: Seychelles Stock Exchange Report for the Year 2016

Post  Sirop14 on Mon Feb 20, 2017 7:42 pm

Trop-X (Seychelles) Ltd: Seychelles Stock Exchange Report for the Year 2016

20-February-2017
Number of local trading accounts up by 175%



For the year 2016, the market was again characterised by increased participation from local investors mainly with the listing of Seychelles Breweries Ltd (SBL) in June 2016 which resulted in an increase of 175% in the number of local trading accounts opened.

The market also witnessed a marked increase in the participation from foreign investors mainly from the listing of the Wealth Migrate companies under the Wealth Migrate Multi Issuer Program for the real estate investment crowd funding platform which resulted in an increase of more than 200 foreign owned trading accounts created. Among their three listed companies, WM Med 5 Limited paid a dividend of US0.02 per share to its shareholders in November 2016 resulting in a dividend yield of 2% with WM Cypress Ridge Limited expected to pay dividends on February 24, 2017.

With six newly listed companies joining the Trop-X Main Board in 2016, the equities market continues to show signs of progress and strength. The increase in the number of companies listed resulted in an increase in the total market capitalisation for the three equity boards by 247% compared to the year 2015 as the year 2016 ended with a market cap of US $105.4 million.
http://www.nation.sc/article.html?id=252944

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The bank de-risking trap

Post  Sirop14 on Fri Mar 17, 2017 7:17 pm

The bank de-risking trap

17-March-2017
• The Seychelles response to global de-risking to date and the need to revise it

In a press conference aired on SBC last Friday evening we heard the Central Bank of Seychelles explain that Seychelles banks continue to come under pressure from overseas correspondent banks (i.e. for USD, EUR and GBP transactions) due to “de-risking”. We were told as we have been over the previous years that the primary culprit to the de-risking threats of Seychelles is the often maligned “offshore” industry. In response to de-risking by the correspondent banks, Seychelles banks have responded by doing their own de-risking. Yet according to the press conference from the Central Bank, we still seem to be under imminent threat of losing more correspondent banking relationships due to de-risking! Logic should dictate at this stage that we need to revisit our approach to global bank de-risking in a way that is going to result in the best possible outcome for the Seychelles economy.
http://nation.sc/article.html?id=253297

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Trop-X Closing Prices for week ending 11th August 2017

Post  Sirop14 on Tue Aug 15, 2017 7:03 am

Trop-X Closing Prices for week ending 11th August 2017

14-August-2017
Trop-X Closing Prices for week ending 11th August 2017
Company Name
Symbol
Price
Bodco Ltd
BOD
SCR24.00
Cedarwood International Investments Limited
CIIL
USD1.00
Sacos Group Ltd
SAC
SCR 115.00
Sea Harvest Investment Plc
SHI
USD1.00
Seychelles Breweries Ltd
SBL
SCR72.50
Southchester RF Limited
SCRF
ZAR109.00
WM Med 5 Limited
WMUSM5
USD1.00**
WM Aus Res 1 Limited
WMAUR1
AUD1.00**
WM Cypress Ridge Limited
WMCR01
USD1.00**
SA Res 1 Zero2One Limited
WMSAR1
ZAR1.00
Entrepreneur Resorts Limited
ERL
USD1**

This week has seen the launch of three Treasury Bonds and a DBS Bond which will be administered by the Central Bank of Seychelles. The Treasury Bonds being issued on behalf of the Government are a three-year, five-year and seven-year bonds earning fixed interest rates of 6.0%, 6,5% and 7.0% per annum respectively.

How are share prices determined[1]?

http://www.nation.sc/article.html?id=255244

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Trop-X Closing Prices for week ending 08th September2017

Post  Sirop14 on Tue Sep 12, 2017 4:48 am

Trop-X Closing Prices for week ending 08th September2017

http://www.nation.sc/article.html?id=255612

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Re: The Seychelles Stock Market/Exchange as it would have been under the 1987/88 SIROP program

Post  Sirop14 on Wed Oct 18, 2017 4:06 pm

Trop-X Closing Prices for week ending 13th October 2017
http://www.nation.sc/article.html?id=256148

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Re: The Seychelles Stock Market/Exchange as it would have been under the 1987/88 SIROP program

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