Stage set to create Seychelles’ Stock Exchange

OUR NATION ECONOMIC HISTORY IN THE MAKING:

A new Bill that makes it possible to create a Securities Market or Stock Exchange in the country has received the unanimous approval of the National Assembly.

The Securities Bill, 2007, which was approved by the Assembly on Tuesday, will replace the Securities Industry Act, 1995, which is considered outdated as many changes have occurred since it was enacted.

OFFICIAL COMMENT FROM THE GOVERNMENT CAMP AND SNP:

The Leader of Government Business, Hon. Marie-Louise Potter, said the Bill is good for the country’s economic development as it will allow investors to make transactions without risks and also allow the country to enjoy the benefits which these developments will bring.

For his part, Hon. Bernard Georges from the Opposition, even though he welcomed the Bill and described it as necessary, said he believes that an independent body other than the Central Bank of Seychelles would have been better placed to act as the regulatory authority.

WE HAVE WRITTEN SOME 100 OF ARTICLES ALL OVER THE PLACE AND THE WORLD OF THE NEED FOR SEYCHELLES TO HAVE A STOCK MARKET. WHEN WE PUT THAT PORTAL IN PLACE ASPECT OF THE CONCEPT WAS TO ENCOURAGE A STOCK MARKET IN SEYCHELLES.

NOW THAT WE HAVE THE APPROPRIATE BILL THIS IS ALL THE GOVERNMENT COULD SAY AND THE OPPOSITION, SOMETHING THEY COULD HAVE MADE AN ELECTION ISSUES, THEY DID NOT ( LIKE WE BELIVE SOONER OF LATER SEYCHELLES WILL OPT FOR A TWO TIER GOVERNMENT WITH A LOWER HOUSE AN UPPER HOUSE.)

LIKE THE RESEARCH WE DID FOR INDIAN OCEAN INDUSTRIAL INVESTMENT PROMOTION CENTRE WE DID IN 1979 BY UNIDO/WORLD BANK - WHAT LED TO THE FORMING OF THE COI THE RECENT IMPORTANT DECISION TWO DAYS AGON ON ST ANNE. VIS A VIS THE AFRICAN UNION - THEY ARE NOT HAPPY THEY WILL HAVE TO ACCEPT IT, THE NATIONS OF THE INDIAN OCEAN MUST IN TURN EXPLAIN TO AU - WHY THEY ARE GOING THAT ROAD.

NOW TO SOME CONGRATULATION:

NOT TO PRESIDENT JA MICHEL - TO MY OLD FRIEND, HIS YOUNGEST SON WIFE IS EXPECTING A BABY THIS OCTOBER , "WE HAVE FOUGHT THE GOOD FIGHT, OUR CONVERSATION ON THAT OLD LOG IN THE FOREST AND THAT BOTTLE OF RED WINE - FINALLY WE HAVE MADE IT". THANK YOU FOR BELIVING IN US.

TO YOU PRESIDENT JA MICHEL , WE THANK YOU ON BEHALF OF THE PEOPLE, THE BLOOD SHED, ACCEPT THE APPRECIATION OF OUR EU COMMUNITY, FOR THE LEADERS OF THE OPPOSITION - HIS DREAM MR GERRARD HOUREAU AND HIS BROTHER.

THOSE WHO HAVE DISCUSSED THAT WE NEED TO BE MORE LIKE MAURITIUS - IT WILL REQUIRE MORE ENERGY, MORE SOPHISTICATION AND HARDER WORK - EITHER THAT OR WE OUGHT NOT HAVE BEEN BORN.

TO THOSE WHO LIVED IN EXILE , THE FAMILY WITH THE SHOP NEAR BLACKFRAIS BRIDGE LONDON -(THE EMBROSIANA BANK INCIDENT AND THE COURT CASE THIS YEAR) THEY WORKED BARCALYS BEFORE THE COUP D'ETAT, THE INVESTMENT WAS WORTH IT EVEN IF THE WORNG PEOPLE WILL BENEFIT.

TO THE SEYCHELLES GOVERNMENT AND SPPF , WE THANK YOU THAT YOU HAVE SEEN REASON, THANK YOU THAT WE GOT LAUGHED AT IN 2000 AND 2004 ALL THOSE WHO SAID WE WERE DREAMING( THE MEGA EARTH QUAKE ANDME), THE MANY INSULTS FROM YOU AND MY FAMILY WHO SUPPORT THE PARTY AND THE GOVERNMENT.

TO MY VERY DEAR FRIEND MR MARC DIDON EVEN IF YOU ARE BEYOND THE RAINBOW - THIS IS FOR YOU, IT IS A VERY BIG ONE. OUR LAST TALK WAS NOT FOR NOTHING.

Like the SIROP/Alliance/DP/SNP/MPR /CDU exile program we followed events. When we put that portal together we knew it was a matter of times before a Seychelles Stock market was put in place. My many threads.

The discussion last year - that Indian company who provide expertise to concept the necessary software and stock market technology for AU gave me optimism.

We have been watching the work of the Central bank in Seychelles, the issues they brought forward closely.

With the of Eden Development and the Dubai government - SPECIALLY THE HEAD OF DUBAI STATE ENCOURAGEMENT, Pinnacle Holding coming to Seychelles, it was in their interest to support and lobby for this to come about soon.

We refer to our Mauritius friends, not to forget it was our Seychelles EU community who "catapulted Mauritius Stock market" the very many issues we have been involved since.

Now that we will have one your support like we have supported yours and that of African Union all the Officials we have lobbied. The Pan African and Indian Stock market project.

Now to our British friends thank you for all the time, discussions, the many meetings to seek your advice, all the leading bank we have met with in Britain and talk about this project.

The current officials of the London market and Exchange our in put in the Market over the past 25 years.

This goes to our French, German Italian, Dutch, Spanish, Belgium, Austrian, Irish and Scandinavia friends.

The South African for all their time and effort to support us, all the killing and the blood.

The USA/Canadian officials reaction - we trust they are happy for us. My/our involvement in the USA Market and Canadian Market the past 25 years, the future.

To our Russian friends - thank you.

To the Chinese - the visit of the Chinese President last years our emails and your promise unspoken, thank you.

Australia, our Seychelles community and the very large Mauritius community who assisted us with our EU community portal thank you. A little progress and a little bit more faith building in each other.

We just hope and trust that the government will not make the misjudgment to get some gick to write a book on how JA Michel started a Stock Market - history ought to be written as as they happened and researched. Give due credit to those that deserve.

NOW THAT THIS IS COMING, THE GOVERNMENT IN SEYCHELLES WILL HAVE TO LOOK AT WAY TO TREATING US - WE HAVE THE KNOWLEDGE AND EXPERTISE TO MAKE INPUTE , INFLUANCE THE SEYCHELLES STOCK MARKET POSITIVE AND NEGATIVE. IF THEY KNOW WHAT THAT IS AND MEANS.

To the members and friend of the many Seychelles forum, for a very long time we have been wise to very many things - those that refused to give us the opportunity. Remember the grape vine - where it originate and the process, science of planting grape vine.

To our Community in EU, Britain - please remember the European High speed train project, the Kings Cross station London this months, our community in Islington, the Volunteers and the very many who have contributed and never received a thank you.

Lastly to all my learned friends in Seychelles you judge we were being a nuisance and pestering you and wasting your time - we will not boast this not our nature. There is a lesson here - the need to have faith - to pray, to believe and to be persistent. THIS IS HISTORY IN THE MAKING THOSE OF YOU WHO HAVE BELIVED IN US AND SUPPORTED US - SPECIALLY TO MR GUY MOREL , THOSE HE HAS LEFT BEHIND CONGRATULATION.

We do trust the Government have planned an adequate place to house/start the Stock market

There is the need to celebrate: Those of you in Britain, France, Germany, Italy, Holland Austria have fun.

We have a situation – the Seychelles community forum is block, some nasty person are invading the Commonwealth section of the forum with sex, drugs and other spams. We cannot post and use the forum.

Finally to Tuula all the swearing and late Sir James Goldsmith daughter, many know whom we are talking about – the importance to have a dream and work at it. To the daughter of our "good friend on the log and the bottle of red wine in the forest" - thank you for your apple cider as a school girl - trust you bring your childern on the same dream.
http://www.nation.sc/index.php?art=10389

Note: How can we forget the Project Seychelles International Classical Festival. Finally the great announcement, aspect of the reason to promote this project in Seychelles to bring about A Seychelles Stock Market for those who are not versed in the archaic/fraternal issues.

Overlooked Issues:
We have been reminded of President FA Rene, first Initiative to start/research a Stock Market with the help of experts from OAU then. ( About the same time as Mauritius started its Stock Market) Rs500,000. spent. We also underline the effort by Mr Giovanni Mario Ricci and Associates, Sir James Mancham and Associates, Mr Noshi Wadia of the Temooljhi group, they gave up/rather fed up. The reason President FA Rene spent so much money to refurbish the Victoria Market - the pride of Seychelles - the vast many issues International, regional East and West at the time, to give momentum to this project. The very many EU, Australian, Asian, Russian, Canadian, African Union personalities who have lobby president FA Rene that a Stock market need to be establish in Seychelles.

We have noted the thread of the last forum member., the lack of financial knowledge by the nation. {We gave you the Internet for this very reason - teach your family what is going on the many market all over the world - how they work, you are not ristricted. Just like the many gambling and Casinos online} Likewise appropriate body , institution to put in place benevolant or otherwise to monitor the negative effects, help and educate those who do not understand and want to verture in this field. The Government have a duty to do this.

Listing Issue:
The next big challange will be to decide/set up criterias for company to list. By now there must have been several unofficial exercise and discussions.

Brokers Liscencing:
We have noted the very many registered financial service company in Seychelles which can become official Brokers. The Public and nation must watch our for favoritism. The Opposition will have to be on their guards.

Board of Directors/governor:
Again the public will have to be on their guard that those involved are not all sponsored by the Government or the Party. It will not do good or give credibility.