Remarks by Ms Caroline Abel
Governor of the Central Bank of Seychelles
Launching of the CBS Strategic Plan 2019-2023
Monday 19 November 2018
Venue: Central Bank of Seychelles
Minister for Finance, Trade, Investment and Economic Planning,
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Ambassador Maurice Loustau Lalanne,
Board Members, Management and Staff of CBS
Distinguished Guests
Ladies and Gentlemen
Good afternoon.
It gives me great pleasure to welcome you all here today, to witness the launching
of the new strategic plan of the Central Bank of Seychelles.
The 1st of December of this year will mark 40 years of the existence of a central
today's official launch of our new
banking institution in our island nation. And
Strategic Plan for 2019 to 2023, highlights the progress made by the Bank, after
standing decades of trials and triumphs.
We have indeed come a long way and witnessed significant evolution in the face
of various challenges both locally and on the external front, while striving to
remain true to our mandate, which is to contribute towards the sustainable
economic growth and development of Seychelles through monetary policy and
maintenance of a sound financial system. Guided by a solid set of objectives, we
have been able to discharge our responsibilities and make significant strides in
achieving our vision. Over the past few years, the institution, backed by its
workforce, has worked tirelessly to maintain domestic price and financial system
stability, strengthen the payment systems, enhance financial consumer protection,
promote greater engagement with external stakeholders and continuously engage
in capacity building. And as we stand here today, we can rightly be proud of our
progress.
Nevertheless, we are not going to be complacent. We are now a more mature
institution and we need to take on more responsibilities, if we are to continue
improving. This responsibility rests on all of us, from our Board, Management,
staff, our stakeholders - from both the public and private sector - and the public
in general.
This is our third strategic plan and it builds on the successes of previous ones.
The Strategic Plan 2019 to 2023 has been prepared so we can enhance
achievements made thus far and to continue focusing on achieving our mandated
goals and objectives.
The global economy is ever changing and we have to take a proactive stance, if
we are to keep in pace with the developments. We need to ensure that our
monetary policy implementations are effective, that we keep abreast with
innovation, including the continuous modernization of our payment systems, and
equally important is to ensure our population is empowered to make informed
and sound financial decisions. Planning for the future, although time-consuming,
is vital to ensuring that our work will bring ongoing benefits not only for our
organization, but for the country as a whole.
The strategic planning process has actively sought the input of everyone across
the Central Bank, cognizant of the fact that an effective consultation process
establishes the solid foundation for the success of the plan over the coming years.
We went through a bottom-up planning process, engaging in discussions with all
staff of each division and unit to formulate departmental plans. The Board then
joined the Management team to set expectations and provide guidance on the
formulation of this important document.
I would like to take this opportunity to congratulate the team involved in the
consultations, discussions and drafting of the plan, who have ensured that we
have a document that serves as a roadmap that will guide our endeavours over the
next five years.
On this note, I would like to also thank and convey my appreciation to Board
Director, Professor William Ogara, and the Second Deputy Governor, Ms Jenifer
Sullivan, for spearheading the process, ever since we embarked on the strategic
review exercise over a year ago.
As Governor of the Central Bank, I look forward to the ongoing commitment and
professionalism of all staff to continue upholding the credibility of our institution
and to achieve the strategic objectives set out in the plan. I also look forward to
building on the good collaboration that we have with all our stakeholders
represented here today, in taking this plan forward.
On this note, I am pleased to announce the official launch of the Strategic Plan
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2019 2023 of the Central Bank of Seychelles.
Thank You.