The Seychelles Cabinet session of July 23, 2026 was one of the densest of the year. In a single meeting, the government approved reforms spanning fuel prices, the foreign exchange market, artificial intelligence in education, and agricultural sector restructuring. A strong signal of proactive governance from an archipelago keen to cement its reputation as an advanced services hub.
Fuel: progressive hike to rescue the SPC
Cabinet approved progressive increases of SCR 2 per litre of fuel. The aim is to strengthen the financial viability of Seychelles Petroleum Company (SPC) after years of emergency subsidies. This «Accelerated Recovery Framework» formally transitions Seychelles from emergency fuel subsidies to commercial operations. The measure is presented as unavoidable given the fiscal pressure those subsidies were creating.
Foreign exchange: Credit Unions and fintechs join the club
The amendment to the Foreign Exchange Act is a quiet but significant structural reform. It expands the list of «authorised dealers» in foreign currency to now include Credit Unions and Payment Service Providers (PSPs). Previously reserved for commercial banks, the FX market is opening to alternative financial players, improving forex access for SMEs and individuals. This fits within the financial diversification drive Seychelles has been pursuing for two years.
AI in schools: a National Framework 2026-2030
Cabinet adopted the National AI in Education Framework 2026-2030, a reference programme for the responsible integration of artificial intelligence in the Seychellois education system. It governs AI tool deployment in classrooms, teacher training and student data protection. Seychelles becomes one of the first island states in Africa to adopt such a formalised five-year framework.
Agriculture: two new agencies established
Two distinct statutory bodies are created: the Seychelles Agriculture Development Agency and the Biosecurity Agency of Seychelles. The former supports local agricultural development; the latter strengthens border biosecurity controls, notably to protect the archipelago's endemic biodiversity. Both replace older, more fragmented structures.
Cabinet also validated ratification of the UNESCO Convention on higher education qualification recognition and approved Seychelles' bid to join the UN Committee on the Peaceful Uses of Outer Space (COPUOS) for climate resilience and maritime security applications.
Why this matters
In a single session, Seychelles moved simultaneously on energy, FX markets, digital education and food sovereignty. This is the hallmark of broad-spectrum governance, typical of small island states that cannot afford to reform in stages. For regional investors and partners, this regulatory modernisation signal strengthens the archipelago's appeal as an Indian Ocean services hub.