Wednesday, August 8, 2018

The leaked documents; SBFA LOAN SCANDAL EXPOSED

The Seychelles Business Financial Authority (SBFA) has acted as a money channeling agency since its creation though it was created to encourage the growth of small enterprises. It was meant to provide concessionary loans to small businesses registered with SENPA. It did not do only that.

What it did was to grant loans to many people who never needed the loans in the first place. One very senior member of the National Assembly with big business did in fact benefit from a loan from the authority in 2013 and had not bothered to pay until the urgent question to be asked in reference to SBFA came to his attention. He paid up immediately.

There are also several suspicious accounts that have been written off which points directly to relatives of members of staff as well as persons closely related to the ruling party but worse of all is the CEO’S attitude towards staff. Not only did she position cameras in several offices to keep staff under constant surveillance, it is alleged she also incorporated listening devices to listen in to staff conversations. The proposed investigations into the affairs of SBFA should ensure that better control mechanisms are implemented in the future.

Seychelles Citizen Watch