Category: Business

The Seychelles tourism environmental sustainability levy will into force on August 1 as per the structure announced by the Ministry of Finance, National Planning and Trade in July, the Ministry said on Thursday.

The regulations governing the levy will be gazetted on Friday, July 28, and the ministry said that it will be charged on a three-tiered basis.

"Small tourism accommodations of 1-24 rooms will be required to charge visitors SCR25 ($2) per person per night, medium tourism accommodations of 25-50 rooms - SCR75 ($6) per person per night, and large tourism accommodations of 51 rooms and above, yachts and island resorts - SCR 100($8) per person per night," it added.

Island resorts relate to establishments based on any island other than Mahe, Praslin, La Digue, the three most populated islands and Cerf Island as defined in the Tourism Development Act 2019.

Establishments will charge and collect this levy from the visitors.

"The Levy is not to be incorporated in the establishments' prices. Instead, they are required to include it on the visitor's invoice as the Tourism Environmental Sustainability Levy. The establishments will then be required to remit these funds to Seychelles Revenue Commission (SRC) on a monthly basis," said the Ministry.

According to the press release, the levy amount shall not be considered as part of the turnover of a business for the purpose of determining business tax, value-added tax (VAT), accommodation turnover tax, or tourism marketing tax (TMT).

The levy is not applicable to Seychellois citizens and residents of Seychelles, children of 12 years and below, and crew members of airlines and yachts.

The announcement comes four days after Seychelles' finance authorities said it will undertake further discussions with the Cabinet of Ministers on the environment levy amid concerns of tourism establishments on the proposed collection method.

In the meeting on Monday at the Seychelles Trading Company (STC) conference room, representatives from the tourism industry spoke about their reservations about how the levy would be collected.

Other concerns raised were the fact that the establishment owners would have to pay the additional three percent incurred from banks following credit card payments from their clients.

Proceeds from the levy would add to the country's efforts to enhance, rehabilitate and protect its natural environment.

The levy was first announced during the 2023 budget speech, delivered by the Minister for Finance, National Planning and Trade, Naadir Hassan, in the National Assembly on November 4 last year.

Following the budget address, three separate consultative meetings were held with tourism stakeholders, one on Mahe on January 30, Praslin on February 3 and La Digue on February 4.

These were followed by further meetings with the Seychelles Hospitality and Tourism Association (SHTA).

Source: Seychelles News Agency

The flow of foreign direct investment in the agricultural sector in Tunisia did not exceed, in 2019, the rate of 0.77% of total foreign investment, against 2.81% in 2018, according to the latest data published by the Arab Monetary Fund (AMF). A study published, Tuesday, on "the reality and challenges of the agricultural sector in Arab countries", drawn up by the AMF, highlighted the weakness of foreign direct investment in the agricultural sector in Arab countries, which accounted for less than 3% of total foreign investment in these countries in 2020, whereas the volume of supplies reached its highest level in Morocco, as well as in Arab countries, at a rate of almost 2.3% of total investment in 2020. Les statistiques ont montré qu'en 2021, la croissance moyenne du secteur agricole en Tunisie a été de -0,26%, alors que la part du secteur agricole tunisien n'a pas dépassé les 9,1% du PIB en 2021, contre 10,2% en 2020. Average compound growth in value added in the agri-food industry over the period 2010-2020 was -0.2%. The number of workers in the country in the agri-food sector in 2020 will have reached almost 62.8 thousand. The data in the study highlighted the fact that the share of the individual in Tunisia in the agricultural sector, at a fixed price, was in 2021 within the limit of 368.6 dollars, far from the world average which is estimated at 469.9 dollars. The study covered several chapters relating to the development of the agricultural sector in the Arab countries, the level of foreign trade for the agri-food industries, and the average dietary energy intake. One chapter was devoted to analysing the challenges facing the sector in the Arab world and presenting recommendations for its development. The study showed that the production of wheat and its derivatives accounted for almost 44.3% of total cereals imports by Arab countries in 2021. Similarly, by 2021, the agricultural sector in these countries will have grown by 1.6% at real prices, compared with 2% worldwide.

Source: Agence Tunis Afrique Presse

For the first time since 2016, Seychelles' national airline - Air Seychelles - has made a profit of $8.4 million for the year 2022, well on the path of surpassing its five-year plan.

In a press release on Tuesday, the airline outlined that following a reported loss of $22.7 million in 2021, last year was one of exceptional recovery for the company.

"Prior to the start of 2022, the airline had suffered the effects of the COVID-19 pandemic, which included the shutting down of its key routes and the shrinking of its revenue streams," said Air Seychelles.

Whilst undergoing an administration process, Air Seychelles paid the agreed settlement of $28.16 million owed to the bondholders in May 2022. The payment was made from a $16.5 million bank loan from Nouvobanq and $11.7 million of Air Seychelles' cash reserves.

Air Seychelles went into administration in October 2021 after it faced financial difficulties. This was mainly due to significant debt that was incurred during the stewardship of the airline by Etihad Airways, which was previously a 40 percent shareholder in the company.

It was removed from administration on November 14, 2022, after a rescue plan for Air Seychelles was presented to court on November 7, 2022.

As part of the rescue plan, it was agreed that the Seychelles Civil Aviation Authority (SCAA) will create a new company that will own all the ground handling operations assets, which will see Air Seychelles given a management contract for ground handling operations.

Answering a private notice question during the Seychelles National Assembly session on Tuesday, the transport minister, Antony Derjacques, outlined that Air Seychelles is maintaining its commitment towards its debts, and they are being paid regularly.

"In June 2023, its debts have reduced to a sum of $29.3 million - $14.6 million owed to Nouvobanq and $14.7 to the Seychelles government," said Derjacques.

"At the end of June 2023, the value of the company stands at $24.5 million, a positive result that means the company is solvent as its assets are more than its liabilities as its financial status has improved by $109.5 million in the past two years. The performance of Air Seychelles is surpassing its five-year plan," he added.

Air Seychelles, the national airline of Seychelles, was established in 1978 and began long-haul service in 1983. The airline offers international and domestic flights to over 12 airlines operating at the Seychelles International Airport at Pointe Larue.

Source: Seychelles News Agency

Grain production in the governorate of Jendouba fell sharply this season, with an estimated harvest of around 309,000 quintals compared with 1.9 million quintals in 2022.

The quantities collected in the governorate of Jendouba up to July 24 have reached 309,000 quintals, or 98% of the total grain harvest in the region, a source at the Local Authority for Agricultural Development said.

Estimates by the latter, based on a production of 500,000 quintals, were revised after rain damaged 200,000 quintals of the harvest.

Source: Agence Tunis Afrique Presse

Clients of Absa Bank Seychelles now have the option of buying goods at any shop in Seychelles and paying later with the introduction of the bank's new product on Thursday.

The new product is called 'Buy Now, Pay Later' (BNPL) and was launched in a ceremony held at one of Seychelles' top household shops, Abhaye Megastore, in Victoria.

Absa has confirmed that the product will be available in any shops in Seychelles.

The product is only available to credit card holders, who will simply have to purchase their items using their cards before going onto their Internet banking platform and selecting their preferred re-payment of option. The payments can be up to three, six, nine and 12 months.

"We at Absa believe that this will enhance the financial ability of our clients, and so we want to encourage all our clients to register for a credit card," said during the launch event," said Absa bank retail manager, Fabiola Horner.

For people using the Buy Now, Pay Later product, they will have a maximum purchase of SCR50,000, with repayment at a lower interest rate than regular credit card purchases.

Absa, which was then Barclays Bank Seychelles, launched its credit card for Seychelles Bank in 2014.

'Buy Now, Pay Later' (BNPL) was launched in a ceremony at Abhaye Megastore in Victoria. (Seychelles Nation) Photo License: CC-BY

Horner, who was then the acting retail banking manager, said that it was to provide customers with easier, safer and more convenient payment options, allowing them to spend now and pay later while giving them added flexibility to manage their budgets better.

"We look forward to the success of BNPL and the positive impact that it will have on the customers," she added, during the launching ceremony, on Thursday.

Meanwhile, one of the representatives of the Abhaye Megastore, said they are thrilled to partner with Absa as "it enables us to provide our clients with an affordable option to pay for their products."

People wishing to purchase any item using Absa's BNPL can do so immediately as the product is already up and running, with clients also being urged to respect their payment plans.

Absa Bank Seychelles which took over Barclays Bank in 2020 is part of Absa Group Limited, an African financial services group that aims to be the pride of the continent. It is one of Africa's largest diversified financial services groups with a presence in 12 countries across the continent with around 42,000 employees.

Source: Seychelles News Agency

Director General of the Arab Labour Organisation(ALO) , Fayez Mtiri, stressed the importance of social dialogue in meeting national and international challenges and fostering a favourable climate for investment and employment, as well as consolidating employment and development in the Arab region.

During a meeting on Thursday with Secretary General of the Tunisian General Labour Union (UGTT), Noureddine Tabboubi, Mtiri stressed the importance of the role of the trade union movement and its historical development, affirming the organisation's consideration for the national and social role played by the trade union centre.

The two parties also discussed social dialogue in the Arab region and ways of consolidating and developing it, as well as the social situation in Tunisia and the problems encountered.

Source: Agence Tunis Afrique Presse

Revenues of the national carrier "Tunisair" increased by 24% during the 2nd quarter of 2023 compared to the same period of 2022, according to the company's activity indicators for the 2nd quarter of 2023, published on the website of the Tunis Stock Exchange. According to the same source, the number of passengers carried rose to 1,150,453 in the first half of 2023, compared with 939,860 in the same period of 2022. Transport revenues (scheduled activity, charter activity and freight and mail activity) amounted to 658 million dinars (MD) during the first half of the current year, compared with 521 MD during the same period last year. The company also reported that the second quarter of 2023 was characterised by the introduction into operation of two new A320 aircraft, which contributed to a 31% improvement in capacity in terms of available seat kilometres (ASK). In response to this improvement in supply, demand in terms of Passenger Kilometres Carried has increased in the same proportions. As a result, the load factor has remained stable at 74% between the first half of 2022 and the first half of 2023. Market share also remained unchanged at 30%. The company also reported a change in its costs during the second quarter of 2023. Fuel costs fell by 17% as a result of the price effect (average decline of 30.9% in the price per barrel). On the other hand, expenditure on airport charges and commercial assistance rose by 22% and 16% respectively. Tunisair also reported an increase in expenses relating to aircraft rental and insurance following the acquisition of two aircraft and an increase in the settlement of financial charges following the restructuring of its debt (clearance of unpaid debts) and as a result of the rise in interest rates. A fleet of 29 aircraft entered service during the first half of 2023, an increase of two aircraft compared with the same period in 2022. 18 aircraft are owned by Tunisair and the others are operated under leasing agreements. The company has a workforce of 3155 employees in the first half of 2023 compared with 3215 in the same period of 2022, with personnel costs estimated at 96.379 MD.

Source: Agence Tunis Afrique Presse

This Monday's Burkinabè dailies echo the contribution to the peace effort of Niaogho nationals in Italy, the responsible use of social networks and the cooperation between Burkina Faso and Russia

The public daily Sidwaya mentions on its front page: "Burkina-Russia cooperation: A delegation from the Duma at the Prime Minister's"

The newspaper informs that the Prime Minister, Apollinaire Kyélem de Tambela received a delegation from the State Duma of the Russian Federation, led by the adviser to the Vice-President Natalia Krasovskaya on Friday July 14, 2023 in Ouagadougou.

According to the newspaper, the exchanges between the two personalities focused on strengthening bilateral cooperation between the Russian Federation and Burkina Faso.

On the same subject, the private daily L'Observateur Paalga affirms that many sectors, namely education, culture and the economy will be taken into account.

From another angle, the private daily newspaper Le Pays features on its headline the words of Professor Augustin Loada, a political scientist, who declares that “social networks can become a tool for unraveling our democratic process”

The daily informs that the Superior Council of Communication (CSC) in collaboration with the Center for Democratic Governance (CGD) organized on the morning of July 15, 2023 in Ouagadougou a panel which brought together teacher-researchers and network specialists. social.

According to the newspaper, this meeting was placed under the central theme "youth and responsible behavior on social networks".

As for the private daily L'Express du Faso, published in Bobo-Dioulasso, it adds that the Superior Council of Communication (CSC) wants to promote advice to young people, in order to limit the excesses linked to the use of social media.

According to L'Express du Faso, the main objective of the public conference was to sensitize the young public on the healthy and responsible use of social media as well as direct expression broadcasts.

By the way, L'Observateur Paalga emphasizes that social networks today constitute a forum for the expression of communication and information for the Burkinabè population and particularly for the young generation.

It is rightly that the private newspaper Le Quotidien highlights: “Responsible use of social networks: The CSC and the CGD raise awareness among young people”.

Under another aspect, the daily Sidwaya mentions on its front page: "Peace effort: Italians from Niaogho bring 15 million FCFA"

Sidwaya informs that the Association of Nationals of Niaogho in Italy (ARNI) presented a check worth fifteen million FCFA for the benefit of the Patriotic Support Fund (FSP), Friday July 14, 2023 in Ouagadougou.

According to the newspaper, the donation was received by the Minister Delegate to the Minister of Economy, Finance and Prospects, in charge of the budget, Fatoumata Bako.

Source: Burkina Information Agency

Minister of Foreign Affairs, Migration and Tunisians Abroad Nabil Ammar held a working session with Director General of the Kuwait Fund for Arab Economic Development Waleed Shamlan AlBahar during his visit to Kuwait on July 16.

Ammar commended on the occasion, the level of cooperation between Tunisia and the Kuwait Fund for Arab Economic Development, one of the first Arab funds to have supported Tunisia in its development process since the 1960s, according to a Foreign Department press release on Monday.

The FM outlined the new 2023-2025 development plan, in which a new approach to development has been adopted with the aim of narrowing development disparities between Tunisia's regions and increasing the capacity of the labour market to absorb unemployment.

AlBahar for his part hailed the level of cooperation between the two sides, reiterating the Fund's support for all the programmes and proposals tabled by Tunisia to bolster its development.

Source: Agence Tunis Afrique Presse

The State Duma on Friday wished active and productive cooperation between the Russian Federation and Burkina Faso.

Burkinabe Prime Minister Me Apollinaire Kyelem de Tambèla received a delegation from the Russian State Duma (lower house of Parliament) on Friday evening.

Head of delegation Natalia Krasovskaya advocated active and productive cooperation between her country and Burkina Faso.

According to her, Russia's interest in Africa and in particular in Burkina Faso, is immense.

Natalia Krasovskaya said she was waiting for the country of upright people at the Russia-Africa summit, scheduled for July 26-29, 2023 in Saint Petersburg.

Ms. Krasovskaya, also an adviser to the vice-president of the Duma, hopes that relations between the two countries will continue beyond the summit.

She also claimed to have discussed education, culture, economy and many other topics with Prime Minister Kyelem.

To this end, Natalia Krasovskaya announced the project of an African Film Festival in Russia.

Source: Burkina Information Agency