President Wavel Ramkalawan, yesterday Wednesday 12th March, chaired a scheduled meeting of the Cabinet, in which a number of legal and policy memoranda were approved.
The Cabinet approved a 7% increase in the National Minimum Wage, effective April 1, 2025, as proposed in the 2024 Budget Speech. This adjustment, the first since January 2020, follows consultations conducted by the Employment Department through the National Consultative Committee on Employment (NCCE). The increase will raise the hourly wage from SCR 38.27 to SCR 40.95 and the monthly minimum wage to SCR 6,210.75 for a 35-hour workweek, with casual workers' hourly wage increasing from SCR 44.10 to SCR 47.19. The approved increase will require amendments to the Employment (National Minimum Wage) Regulations, 2007.
The Cabinet approved an amendment to the Stamp Duty (Exemption) Order, 2019, to introduce a progressive exemption mechanism for property transactions for first-time homeowners, land exchanges with the government, lease agreements, parent-to-child transfers, divorce settlements, and mortgage discharges exceeding the exemption threshold. This change ensures that stamp duty applies only to the portion of a property's value above SCR 3 million rather than the entire transaction, addressing concerns that individuals just above the threshold face full duty liability. The amendment, set to take effect on January 1, 2025, will also extend the revised exemption threshold to parent-to-child and matrimonial property transfers for legal consistency. While the adjustment is expected to reduce government revenue from stamp duty collection, it aims to alleviate financial strain on middle-income homebuyers, encourage private homeownership, and reduce reliance on government housing support. The decision balances economic relief for homeowners with fiscal sustainability, aligning with broader progressive tax policies.
The Cabinet approved the Seychelles National AfCFTA Implementation Strategy, outlining the country’s approach to maximizing benefits from the African Continental Free Trade Area (AfCFTA) while addressing structural challenges. The strategy focuses on economic diversification, targeting key sectors such as digital financial services, eco-tourism, and sustainable agriculture, and aims to integrate Seychelles into regional and continental value chains through enhanced maritime infrastructure and financial support. Measures include investment in value-added sectors, awareness campaigns, and engagement with the diaspora to boost trade opportunities. Infrastructure development, including the expansion of the Port of Victoria and digitalization of port operations, will strengthen Seychelles’ position as a regional trade hub. To support implementation, a National Trade Facilitation Committee (NTFC) will oversee progress, backed by a structured monitoring framework, stakeholder engagement initiatives, and legal and financial adaptations to align with AfCFTA commitments. The strategy ensures inclusive economic growth, promotes export expansion, and enhances Seychelles' competitiveness in African markets.
The Cabinet was briefed on the persistent issue of unauthorised street vending in Market Street and surrounding areas, following concerns over congestion, public health risks, and ineffective enforcement. A city-wide clean-up operation is scheduled for March 15–16, 2025, targeting key locations to remove unauthorised stalls and improve hygiene. A high level meeting will be held to agree on the way forward with regards to having market places that will allow vendors to sell their products in a conducive and hygienic environment.
The Cabinet approved a coordinated campaign to combat rodent infestation and stray animal issues in Victoria, recognising the urgent need for immediate intervention to protect public health and improve hygiene standards. The initiative will involve an aggressive deratisation campaign, enhanced waste management, and the installation of rodent-proof bins, with inter-agency cooperation and public awareness efforts. The campaign, set to launch in March, will be continuously monitored to ensure its effectiveness, aiming to safeguard public health and uphold Victoria’s reputation as a clean and safe urban center.
Relevant Ministries will provide details.
