Tuesday, April 17, 2018


Albert Rene retired and handed the Presidency over to James Michel on the 16th of April 2004. Rene had ruled like a dictator for 27 years; a large part under a one party state. He left behind a nation totally divided. Statistics show that between 1977 and 1990, nearly 10,000 people left Seychelles to go and live in other countries. They voted with their feet at a time when Seychellois could only vote for Rene or pay the consequences.

During those 27 years Rene had amassed a fortune; some say in the billions of dollars. Political commentators claim that his assets are scattered all around the world, including many offshore companies and bank accounts in the BVI and Switzerland.

A couple of months prior to his announcement of retirement, a company named Capricorn Estate Ltd leased a plot of land B2311 that is over 80,000 square metres for a sum which works out at just slightly over SR2000 a month at Anse Polite. The Rene clan had already transferred over 30 plots to them from the Government. Because of its huge size it appears that Albert Rene had to hide behind not just one company but two. The main shareholder of Capricorn Estate Ltd is another company called Katiti Properties (PTY) Ltd. The majority shareholder of Katiti properties is one F.A Rene. Is this what he meant when he talked about liberation and delivering us out of the darkness?

Not to be outdone, his wife, a few years earlier transferred 3 plots of the most prime land on the beach of La Digue from the Government of Seychelles to one Sarah Zarquani-Rene of Anse Reunion; LD1110, LD1112 and LD1510. The main plot LD1112 was transferred for peanuts at only SR36,000; most probably ink on paper as opposed to actual money transferred. Corruption is defined as the abuse of entrusted power for private gain. Is this corruption? And are these some of the reasons we got liberated? As will be evident this is just the tip of the iceberg!