AGP Executive Report

Seychelles Economic Boost: The African Development Bank approved a $34m loan to back Seychelles’ Economic Resilience and Green Recovery programme, bringing total support to $84m since 2024, with focus on economic governance, a better business environment, and climate resilience plus digital public financial management. Tourism Under Pressure: Seychelles says aviation disruptions tied to Middle East routes are testing its connectivity, but lessons from COVID-19 are pushing faster route management and diversification as World Tourism Day highlights the need to keep travel arteries open. Climate Risk Planning: The South-West Indian Ocean outlook warns of multiple hazards for Oct–Dec 2026 and Jan–Mar 2027, urging island states to prepare for extreme heat, heavy rainfall, marine impacts and cyclone risk that could hit agriculture, water and fisheries. Digital Trade & Finance: WOO X officially launched WOO X EU in line with MiCA rules, with Seychelles-based Payward Services supporting custody and infrastructure. Maritime & Shipping: India’s INS Tarkash arrived in Mombasa for an operational turnaround, underscoring India–Kenya maritime cooperation in the Western Indian Ocean. Media & Community: African Initiative marked its 3rd anniversary with an exhibition featuring Seychelles’ politics, culture, sport, education and humanitarian work.

Seychelles Economic Boost: The African Development Bank approved a $34m loan for Seychelles’ Economic Resilience and Green Recovery Support Programme, backing economic governance, a better business environment, and climate resilience, with digital public financial reforms like e-invoicing and e-procurement. Tourism Under Pressure: Seychelles says tourism resilience is improving after Middle East aviation disruptions, stressing the need to keep routes open and diversify connectivity beyond Gulf hubs. Climate & Agriculture Risks: The South-West Indian Ocean Climate Outlook Forum, hosted by the Seychelles Meteorological Agency, warns of multiple hazards for Oct–Mar, including drought and heat in the south and flooding and landslides in wetter areas, with knock-on effects for food security and fisheries. Maritime & Trade Links: Seychelles will take over the SIDS DOCK Presidency through Dec 2027, with President Herminie leading efforts on sustainable energy and climate resilience for small island states. Digital & Cyber Watch: Seychelles-based Bitget resumed withdrawals after a major hack, while separate reporting warns attackers are abusing ChatGPT Custom GPTs to lure victims to malware sites. Finance & Markets: Diageo booked a Sh5.57bn charge tied to its EABL and UDV Kenya stake sale, and Seychelles’ rupee ranked among Africa’s stronger currencies in September.

Seychelles Economic Boost: The African Development Bank approved a $34m loan to back Seychelles’ economic resilience, public services, private-sector growth and greener recovery, bringing total support to $84m since 2024, with reforms targeting governance, the business climate and climate resilience plus digital public financial management like e-invoicing and e-procurement. Seychelles Tourism Resilience: State House says tourism is adapting after Middle East aviation disruptions exposed route dependence, with World Tourism Day marked by welcoming visitors and pushing for faster, more diversified connectivity. SIDS DOCK Leadership: President Dr Patrick Herminie led Seychelles to take over the SIDS DOCK Assembly presidency through Dec 2027, focusing on sustainable energy, climate resilience and development for small island states. Maritime & Industry Links: GRSE is expanding shipbuilding capacity to build 32 vessels concurrently and eyeing global markets, including export work for Seychelles. Cyber & Finance Risk: Seychelles-based crypto exchange Bitget resumed withdrawals after a major hack, while separate reporting warns attackers are abusing ChatGPT Custom GPTs to deliver malware via ClickFix lures. Trade & Connectivity: WOO X launched WOO X EU in line with MiCA regulation, supported by Seychelles-based Payward Services infrastructure.

Cybersecurity & Fintech: Seychelles-based Bitget says it’s resuming withdrawals after a $387.5m hack, with a phased return starting with BTC and finishing by 2 October; the company says hot-wallet transfers were spoofed via a backend system, not private-key theft. Tourism Resilience: Seychelles tourism officials say recent Middle East aviation disruptions underline a key lesson from COVID-19: keeping the destination attractive isn’t enough—routes must stay open, with about 60% of visitors arriving via Doha, Dubai or Abu Dhabi. Economic Development: Seychelles secured a $34m African Development Bank loan to strengthen economic resilience, public services, private-sector growth and greener recovery, including digital public financial management upgrades. Maritime & Industry Links: India’s INS Tarkash arrived in Mombasa for an operational turnaround, supporting India–Kenya maritime cooperation in the Western Indian Ocean. Shipping Security: Somali pirates killed five crew members of the MT Honour 25 after Puntland forces retook the Palau-flagged tanker held for over five months. Trade & Regulation: WOO X launched WOO X EU with MiCA-aligned operations, supported by Seychelles-based Payward Services infrastructure. Agriculture: Seed science and planting material security in Seychelles agriculture gets attention as a foundation for stronger yields. Hospitality Leadership: Adrian Messerli’s Four Seasons career path highlights how Seychelles experience shaped his later global hotel operations role.

Digital Connectivity: Uttar Pradesh’s Project GANGA has received 3,000+ applications for Digital Service Providers since its June launch, with 600+ candidates trained and first DSP-led networks rolling out under the GangaFiber brand, targeting up to 150,000 homes. Crypto & Security: Seychelles-based Bitget suspended withdrawals after unauthorized transfers of about $387.5m; it says funds are covered by its User Protection Fund and is resuming withdrawals in phases (BTC first). Tourism & Aviation: Seychelles says World Tourism Day arrivals highlight resilience after Middle East aviation disruptions exposed route dependence, with about 60% of visitors reaching the islands via Gulf hubs. Economic Development: The African Development Bank approved a $34m loan for Seychelles’ economic resilience and green recovery, supporting governance reforms, a better business environment, and climate resilience plus digital public financial management. Maritime & Industry Links: India’s INS Tarkash arrived at Mombasa for an operational turnaround, with planned crew exchanges and a passage exercise with Kenya Navy. SIDS Leadership: Seychelles takes over the SIDS DOCK presidency through Dec 2027 under President Dr Patrick Herminie, focusing on sustainable energy and climate resilience.

Crypto & Regulation: WOO X officially launched WOO X EU, a MiCA-aligned trading platform for European retail and institutional traders, with Payward Services backing the custody and infrastructure. Seychelles Finance: The African Development Bank approved a $34m loan for Seychelles’ Economic Resilience and Green Recovery programme, targeting economic governance, a better business environment, climate resilience, and digital public financial management. SIDS Leadership: President Dr Patrick Herminie was elected to lead the SIDS DOCK Assembly’s 10th session, with Seychelles taking the presidency through Dec 2027 to push sustainable energy and climate resilience. Tourism Resilience: State House says Seychelles is adapting to aviation disruptions by keeping routes open and diversifying access, after World Tourism Day highlighted the island’s connectivity challenge. Maritime & Industry: India’s INS Tarkash arrived at Mombasa Port for an operational turnaround and a passage exercise with the Kenya Navy, underscoring Western Indian Ocean cooperation. Shipbuilding Capacity: GRSE plans to build 32 vessels concurrently and expand into commercial and export markets, including past patrol work for Seychelles. Agriculture: A focus on seed science and planting material security highlights how Seychelles is strengthening resilient systems for imported seeds and locally important planting materials. Cybersecurity Watch: Seychelles-based Bitget resumed withdrawals in phases after a $387.5m hot-wallet incident, saying user funds are covered and cold wallets were not affected.

Seychelles Leadership & Climate Agenda: President Dr Patrick Herminie has been elected to lead the SIDS DOCK Assembly’s Tenth Session through December 2027, positioning Seychelles to push sustainable energy, climate resilience and development for Small Island Developing States. Maritime & Shipbuilding Capacity: India’s GRSE is expanding shipbuilding capacity to build 32 vessels at once and is eyeing commercial and export markets, including recent patrol-ship work for Seychelles. Tourism Recognition: Seychelles picked up an award at the World Travel Awards Asia, Oceania & Indian Ocean Gala in the Maldives, winning “Indian Ocean’s Leading Beach Destination.” Seychelles Agriculture: A new Seychelles agriculture focus highlights seed and planting material security, stressing resilient systems for quality imported seed plus conservation and distribution of locally important varieties. Crypto & Financial Services: Seychelles-based Bitget says withdrawals are resuming after a $387.5m hot-wallet incident, with phased returns starting from Bitcoin withdrawals. Regional Mobility & Business Links: A WION summit session on visas and mobility featured Seychelles’ High Commissioner, underscoring easier travel as a bridge for tourism and trade.

Maritime Industry: India’s GRSE is ramping up shipbuilding capacity to build 32 vessels at once (up from 28) and pushing deeper into commercial and export markets, including a fast patrol vessel for Seychelles. Seychelles Leadership: President Dr Patrick Herminie has taken over the SIDS DOCK presidency through December 2027, positioning Seychelles to drive sustainable energy and climate resilience for Small Island Developing States. Crypto & Security (Seychelles-linked): Seychelles-based Bitget says unauthorized transfers of about $351.6m were detected from its hot wallets, with withdrawals temporarily suspended; Bitget insists user funds are covered and says the breach did not involve private-key compromise. Tourism Recognition: Seychelles earned a win at the World Travel Awards Asia, Oceania & Indian Ocean gala in the Maldives, taking “Indian Ocean’s Leading Beach Destination.” Agriculture (Seychelles): A Seychelles agriculture focus highlights seed and planting material security, arguing the priority is resilient quality systems for imported seed while strengthening local conservation and multiplication. Trade & Exports (EU): The EU reports its trade agreements are boosting agri-food exports and improving market predictability, citing faster growth with preferential partners.

SIDS DOCK Presidency: Seychelles will take over the SIDS DOCK Assembly presidency through December 2027, with President Dr Patrick Herminie leading the Tenth Session and pushing sustainable energy, climate resilience and development priorities for small island states. Tourism Awards: Seychelles picked up “Indian Ocean’s Leading Beach Destination” at the World Travel Awards Asia, Oceania & Indian Ocean Gala in the Maldives, underlining strong regional hospitality momentum. Coral Science for Industry: A Seychelles-linked coral recovery effort highlighted in an Astana exhibition traces how ARC Programme labs are producing genetically diverse young corals—supporting reef restoration and long-term marine tourism value. Digital Travel Policy: At a WION summit session on visas and mobility, Seychelles’ High Commissioner Lalatiana Accouche backed easier movement as a way to deepen business, education and tourism ties. Crypto & Local Finance Risk: Seychelles-based Bitget reported a major hot-wallet breach tied to unauthorized transfers, with CEO saying user funds are covered—another reminder for Seychelles’ growing financial services ecosystem. Agriculture Security: A Seychelles agriculture piece focuses on seed and planting material security, stressing resilient systems for quality imported seeds plus local conservation and multiplication.

SIDS DOCK Presidency: Seychelles will take over the SIDS DOCK Assembly presidency through December 2027, with President Dr Patrick Herminie leading the Tenth Session and pushing priorities around sustainable energy, climate resilience and development for small island states. Tourism Recognition: Seychelles earned a win at the World Travel Awards Asia, Oceania & Indian Ocean Gala in the Maldives, collecting “Indian Ocean’s Leading Beach Destination” as the region’s tourism and hospitality leaders were honoured. Coral & Agriculture Resilience: A Seychelles-linked coral recovery effort under the Assisted Recovery of Coral (ARC) programme reported early results of around 65,000 young corals, while another Seychelles agriculture report highlights the need for stronger seed and planting material security in a market that relies heavily on imports. Maritime & Blue Economy: With World Maritime Day prompting debate on whether countries truly “celebrate” the sea, coverage also points to growing regional focus on maritime security and the blue economy’s investment needs. Digital Finance Risk: Seychelles-based crypto exchange Bitget reported unauthorized transfers of about $351.6m to $387.5m, saying the breach involved hot-wallet infrastructure and that user funds are covered.

SIDS DOCK Presidency: Seychelles President Dr Patrick Herminie has taken over the SIDS DOCK Assembly presidency through December 2027, with the Tenth Session focused on sustainable energy, climate resilience and development for Small Island Developing States. Blue Economy Finance: A new push argues Nigeria’s blue economy needs about $10bn over the next decade to unlock shipping, fisheries, marine tourism, coastal infrastructure, renewables and ocean research—while annual fish imports of $1.2bn underline the urgency. Coral Recovery in Focus: An Astana exhibition highlights coral science connections, including Seychelles’ Assisted Recovery of Coral (ARC) programme, which used sexual reproduction to help produce genetically diverse young corals. Tourism & Tech Debate: World Tourism Day 2026 in El Salvador put AI and digital identity at the centre, but Seychelles-linked voices stressed tourism must stay human. Crypto Security Watch: Seychelles-based Bitget says unauthorized transfers tied to a hot-wallet breach totalled about $351.6m, with CEO claiming user funds are covered by its protection fund. Agriculture Inputs: A Seychelles agriculture piece spotlights seed and planting material security, stressing quality systems for imported seeds while strengthening local conservation and multiplication. Maritime Cooperation: East African states back a regional task force against piracy and sea crimes in the Gulf of Aden and Western Indian Ocean. Visa-Driven Mobility: A tourism diplomacy session in India highlighted how easier visas and better air links can boost travel, with Seychelles’ High Commissioner speaking on deepening ties.

Crypto & Security: Seychelles-registered Bitget says North Korea is very likely behind a $351.6m hot-wallet breach after unauthorized transfers were detected; Bitget says withdrawals were temporarily suspended, private keys weren’t compromised, and user funds are covered by its protection fund. Debt & Development: UN leaders from Africa, the Caribbean and the Indian Ocean warn that debt repayments and high borrowing costs are draining money from hospitals, schools and climate action. Seychelles Diplomacy: President Patrick Herminie tells the UN Seychelles is “a friend to all, and an enemy to none,” framing non-alignment as an active choice for peace. Maritime & Trade: East African states back a proposal for a regional task force against piracy and sea crimes in the Gulf of Aden and Western Indian Ocean. Agriculture Resilience: A Seychelles agriculture focus highlights seed science and planting material security as imports dominate and local seed systems need stronger conservation, multiplication and distribution. Regional Industry Transition: SADC members discuss building greener industry together, including a “just steel transition” and green corridor ideas for low-carbon production.

Fashion & Trade: BRICS+ Fashion Summit returns to Moscow (28–30 Sept) alongside Moscow Fashion Week, with Seychelles Fashion Week CEO Tery Carola among African leaders pushing fashion dialogue into real markets, investment and talent movement. Tourism Diplomacy: Seychelles President Dr Patrick Herminie tells the UN that “friend to all, enemy to none” and non-alignment are active choices for peace—raising the idea of using tourism-style openness as soft power for dialogue. Hospitality Growth: Minor Hotels’ Middle East & Africa COO Amir Golbarg says AI is reshaping hotel discovery and booking, and the group is rebuilding tech to personalise guest relationships across its 640+ hotels. Maritime & Logistics: World Maritime Day sparks debate on whether “blue economy” talk becomes policy; meanwhile, East African states back a regional anti-piracy task force for the Gulf of Aden and Western Indian Ocean. Seychelles Finance & Security: Seychelles-registered crypto exchange Bitget reports a major hot-wallet breach tied to spoofed transfers (no private-key compromise), says withdrawals were paused and user funds are covered. Agriculture: A Seychelles agriculture focus calls for stronger seed and planting-material security—prioritising resilient quality systems for imported seeds while conserving and multiplying local planting materials. Blue Economy Finance: India’s “blue bond” push under Sagarmala aims to fund ocean projects via capital markets, signalling a new financing route for maritime industry.

UN Diplomacy & Tourism Soft Power: Seychelles President Dr. Patrick Herminie told the UN that the country is “a friend to all, and an enemy to none,” framing non-alignment as an active choice for peace—raising fresh questions about whether the island’s hospitality brand could also serve as a discreet peace-talk venue. Maritime & Logistics: World Maritime Day sparked debate over whether nations truly “celebrate” the blue economy through policy, not just ceremonies. Seychelles Agriculture Security: A focus on seed science and planting material security highlights how Seychelles can’t fully produce seeds locally, so the priority is protecting the quality of imports while strengthening local conservation, multiplication and distribution. Seychelles-Linked Crypto Shock: Seychelles-registered Bitget says a hack of about $351.6m–$387.5m came from compromised backend systems and spoofed transaction data (no private-key theft), with withdrawals temporarily suspended and user funds claimed safe. Regional Food Security: A regional look at climate-driven food insecurity argues it remains under-prioritised despite ongoing cooperation and funding. Sustainable Transport & Shipping: China pushed for greener shipping corridors and zero-carbon fuel bunkering networks at a global forum—relevant to Indian Ocean logistics and industry planning. Tourism Mobility: A WION summit session on visas and mobility spotlighted how easier travel can strengthen tourism and business ties, with Seychelles’ high commissioner to India taking part.

Maritime & Blue Economy: World Maritime Day sparked a debate on whether nations are truly “celebrating” their seas or just observing them, with the focus on turning ocean pledges into real policy, investment and skills. Crypto & Financial Services: Seychelles-registered Bitget says unauthorised transfers of about $351.6m were detected from hot wallets and withdrawals were temporarily suspended, while Bitget claims user losses are covered by its User Protection Fund. Seychelles Agriculture: A new look at seed science and planting material security highlights the need for a resilient system—protecting imported seed quality while conserving and multiplying locally important varieties. Maritime Security: East African states are backing a proposal for a regional task force to tackle piracy and sea crimes in the Gulf of Aden and Western Indian Ocean under the Djibouti Code of Conduct. Tourism Trade: Seychelles’ destination push at IFTM Top Resa in Paris drew signals from French tour operators to position the islands as a strategic long-haul option for 2027. Energy & Industry Context: A wider Africa electricity report shows fewer than half of households get reliable grid power, pushing many toward alternatives like solar—an issue for regional industry competitiveness.

Seychelles–India Fisheries Push: Seychelles is seeking deeper cooperation with India to boost landed tuna revenues and strengthen post-harvest management, including investment in tuna processing, product diversification, and higher-value goods from fish residues and seaweed, plus better fisheries data for monitoring and surveillance. Tourism Trade at IFTM Top Resa: Seychelles wrapped up three days in Paris at IFTM Top Resa, with French tour operators signalling they will position the destination as a strategic long-haul option for 2027. Maritime Security in the Indian Ocean: East African states are backing a regional task force to tackle piracy and sea crimes across the Gulf of Aden and Western Indian Ocean under the Djibouti Code of Conduct. Sustainable Transport Cooperation: China proposed a green shipping corridor alliance and a zero-carbon fuel bunkering network to deepen global sustainable transport ties. Electricity Reliability Challenge: A new pan-Africa snapshot shows fewer than half of Africans get reliable grid power, pushing many households toward alternatives like solar. Crypto Exchange Wind-Down: BitMEX has shut down and is charging verified users who leave funds behind, while withdrawals remain open. Visa & Mobility Diplomacy: A tourism summit highlighted how easier visas and stronger air links can support business, education and travel ties—without compromising security.