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Access to finance for women entrepreneurs in Seychelles

A number of financial institutions provide financial products which women entrepreneurs in Seychelles can benefit from. Some of these schemes include:

  • Agriculture Development Fund
  • Fisheries Development Fund
  • SME Scheme
  • Blue Grant
  • National Arts and Culture Fund
  • Youth Local Grant
  • Tax Incentives

Some details on these schemes are provided below and it may be accessed through the booklet ‘MSMEs Guide to Incentives’ which can be downloaded on the following link: http://www.esa.gov.sc/wp-content/uploads/2020/09/MSMEs-Guide-to-Incentives-Booklet.pdf

There are several other options for financing your business. These include: funding the business yourself; asking friends and family; seeking a concessionary loan; seeking funding from an angel investor (angel investors are successful businesspersons who focus on helping startup businesses) or; negotiating an advance from a strategic partner or customer.

angle-left Development Bank of Seychelles

Development Bank of Seychelles

The Development Bank of Seychelles was created in 1977 as a joint venture between the government and various shareholders. To date, the government's shareholding in the bank is 60.50%. The bank runs various loan schemes as illustrated below:

SMALL AND MEDIUM ENTERPRISE (SME) SCHEME

Up to SCR 3 Million | 5% interest p.a. | on First 1 Million and 7% on next 2 Million | Maximum 7 years repayment

The SME incentive scheme was introduced to finance the development of small and medium sized businesses. Finances are offered in all sectors and business activities excluding the refinancing of existing loans or financing of retail, wholesale and import businesses.

Requirement: Must be a Seychellois citizen and should be residing in Seychelles for the last one year who is either employed or self-employed or a company incorporated in Seychelles with at least 51% Seychellois ownership.

Disclaimer: Rates and availability of funds are subject to change without prior notice based on availability of funds at the discretion of the bank.

*Terms and Conditions Apply


AGRICULTURE DEVELOPMENT FUND (ADF) SCHEME

Up to SCR 1 Million financing | 2.5% interest p.a. | Maximum 12 years repayment

This credit facility is available for the financing of agricultural projects and agricultural input productions.

Eligibility: Registered farmers and agricultural input producers who are engaged in full time agricultural activities.

Eligible projects to be financed under this scheme include (but not limited to);

Construction of farm (e.g. shed house/greenhouse/chicken pen/ pig sty and over livestock sheds, stores, workers house & canteen facility and infrastructures such as road access, water storage facility.

Upgrading of existing farm buildings, equipment and machinery.

Replacement and/or purchase of new machinery, equipment & tools.

setting up of irrigation and other agricultural technology systems.

Site preparation and development.

Raw materials and other agricultural inputs (e.g.seedlings, chicks, piglets and fertilizers).

Exclusions: The ADF scheme is not available for the purchase of vehicles, acquisition of land and refinancing of existing debt(s).

*Terms and Conditions Apply


BLUE INVESTMENT FUND (BIF) SCHEME

Up to SCR 42 Million financing | 4% interest p.a. | Maximum 15 years repayment

A loan scheme to assist the progress of the implementation of fisheries management through economic diversification and sustainability. DBS will accept applications during the call cycle.

Minimum loan: $ 50,000 (approx. Scr 700,000)
Personal Contribution: 25%

Eligibility:

Seychellois individuals

Locally registered civil society organizations

Locally registered, Seychellois-majority owned firms

Small and medium sized fisheries enterprises

Larger public-private partnerships

Local-foreign Joint Ventures (Local Partner should be the majority shareholder)

Legally existed and operational for a minimum of 2 years

How to Apply?

1. Before applying check the activities that are ineligible for financing on the Exclusion list.

2. If you would like to apply for a BIF Loan please find our Loan Application Process Manual to ease the process

3. Download our Loan application form:
For Company
For Individual

4. Here is a template for your Business plan;
If you are applying less than $100,000
If you are applying more than $100,000

5. Please use our Checklist to make sure you have all your documents

(uncompleted forms will not be accepted).

6. Use our Environmental and Social Safeguards as a guide.

*Terms and Conditions Apply


FISHERIES DEVELOPMENT FUND (FDF) SCHEME

Up to €500,000 (approx. SCR 7 Million | 3% interest p.a. | Maximum 12 years repayment

This credit facility is to accommodate the economic development of the Fisheries Sector particularly aimed at improving the financing opportunities for local investors to participate in long line ventures and value addition.

Projects to be financed under this scheme includes:

Value addition and export promotion

Vessels upgrading

Requirement/Criteria: Must be a Seychellois citizen and should be residing in Seychelles for the last one year who is either employed or self-employed or a company incorporated in Seychelles with at least 51% Seychellois ownership.

Disclaimer: Rates contained herein are representative as of date. Rates and availability of funds are subject to change without prior notice based on availability of funds at the discretion of the Bank.

*Terms and Condition Apply


Contact information

Development Bank of Seychelles
P.O. Box 217
Independence Avenue
Victoria, Mahe
Tel: (00248) 4294400
Email: devbank@dbs.sc

Website: www.dbs.sc