On July 20, 2026, Victoria hosted the official launch of the RECAMP (Regional Enterprise Competitiveness and Market Access Program) in the Seychelles, backed by an €8 million envelope. Funded through the COMESA framework, the programme aims to equip local SMEs for regional and continental markets — a strategic push as Indian Ocean islands seek to diversify their economies beyond tourism.
€8 million to transform local SMEs
The RECAMP programme — deployed across the COMESA zone — has already supported over 500 SMEs in member states. Its extension to the Seychelles marks a strategic milestone: improved access to finance, entrepreneurial skills development, access to regional markets, and targeted support for women entrepreneurs and youth.
Chileshe Mpundu Kapwepwe, COMESA Secretary-General, stressed the programme's dual ambition: "We wish to encourage initiatives that generate employment while transmitting traditional know-how to youth." The balance between economic modernisation and the preservation of local productive identities is central to RECAMP's design.
Seychelles: a regional digital trade pioneer
The RECAMP launch comes one month after another key milestone: on June 17, 2026, the Seychelles became the sixth COMESA member state to adopt the electronic Certificate of Origin (eCO) system, simplifying cross-border export procedures. This dual movement — trade digitalisation and SME capacity-building — reflects a coherent strategy of economic upgrading.
A growing support ecosystem
The programme builds on an existing African Development Bank (AfDB)-funded facility dating back to 2014, endowed with $1.2 million, which had already supported 719 enterprises in 2016, exceeding its initial target of 540. The new €8 million injection represents a significant scale-up for an archipelago of 100,000 inhabitants.
Why it matters
The Seychelles already boast Africa's highest GDP per capita and one of the region's most robust financial hubs. Yet their economy remains heavily concentrated in tourism (80% of GDP). RECAMP is a deliberate bet on diversification: by giving local SMEs the tools to export across COMESA's 21 markets, the islands are building the economic resilience that tourism revenue alone cannot guarantee.