Seychelles joins African export development fund
Local entrepreneurs gain new opportunities for business financing and expansion.
Seychelles' cabinet has approved the nation's joining of the Fund for Export Development in Africa (FEDA). This move aims to provide local entrepreneurs with increased opportunities to access financing for business growth and development.
Vice President Sebastien Pillay announced the approval at a press conference, explaining that FEDA is an investment platform. FEDA is part of the Export-Import Bank of Africa, also known as Afreximbank.
The fund's establishment offers a new avenue for Seychellois businesses seeking capital to expand their operations and reach new markets.
Why it mattersSeychellois entrepreneurs will have greater access to financing to grow their businesses.