The Finance Department is committed to ensuring that Government pursues financial and economic policies that foster sustainable growth and create greater wealth for the people of Seychelles. We strive to manage the nation’s finances prudently, within a broad macro-economic framework that promotes long-term stability, prosperity, and the wellbeing of all Seychellois.
Our mission is to effectively plan, generate, and manage resources through the implementation of sound fiscal and economic policies. We are dedicated to applying international best practices in the day-to-day management of the country’s finances, while remaining responsive to evolving economic and financial dynamics, as well as national policies and objectives.
The Department is responsible for the planning and management of the Government budget, ensuring that national priorities are adequately financed. It is also central to the design and implementation of fiscal reforms aimed at strengthening economic resilience and promoting sustainable growth.
We coordinate the annual national budget process and provide expert advice on budget-related matters across government. This includes ensuring that the budget reflects policy priorities, adheres to fiscal targets, and finances key economic and social programmes authorized by the National Assembly.
We also provide credible financial analysis and set macro-economic and tax revenue targets to guide the budget planning process and support sound policy decisions. We are responsible for the formulation of taxation policies, the development of the legal framework for the financial sector, and the prudent management of the country’s debt portfolio, both external and domestic.
In addition, we evaluate the effectiveness of accounting, financial, and operational controls across government entities to strengthen performance and accountability. We oversee the implementation of the Public Procurement Act and its regulations, ensuring transparency and efficiency. Finally, we provide independent assurance on the adequacy of controls, risk management, and the efficiency, economy, and effectiveness of public entities’ programmes and operations.
The Finance Department is headed by Ms. Astride Tamatave, who was appointed as Principal Secretary for Finance on 11th March 2024. Ms. Astride Tamatave is a Chartered Accountant with over 15 years of experience in the Ministry of Finance. Prior to this appointment, she served as Comptroller General from May 2022, and has held several senior positions within the Ministry since joining as a Finance Analyst in August 2010.
Throughout her tenure, Ms. Tamatave has been instrumental in advancing key public sector reforms, particularly in Programme Performance-Based Budgeting (PPBB). She has also contributed significantly to other key reforms helping to strengthen Seychelles’ overall public financial management framework. Her leadership has been central to enhancing the national budget process.
Ms. Tamatave’s academic background, which includes the ACCA Professional Qualification and a Master’s Degree in Leadership & Strategy in the Social Domain from the Institute of Public Administration, has equipped her with strong technical expertise and leadership skills to handle the complexities of fiscal,financial and policy matters. In addition to her role in the Ministry, she serves on several Boards of Directors of key national institutions, where she provides strategic oversight and contributes to aligning public enterprises with the country’s broader development goals.
With her strategic vision and dedication to reform, Ms. Tamatave remains committed to building fiscal resilience and driving forward policies that will secure long-term prosperity and stability for Seychelles.
The following Divisions/ Units fall under the responsibility of the Principal Secretary of Finance Department:
Debt Management Division
Mandate and Policy Obligations
The Debt Management Division aims to ensure that the Government’s financing needs and payment obligations are met on a timely basis, and at the lowest possible cost, consistent with a prudent degree of risk; and ensures that the debt remains on a sustainable path. The Public Debt Management Act (PDMA) provides the division with its portfolio responsibilities and legal framework on which the management of the country’s debts are administered. It is also guided by Section 27 of the Public Finance Management Act 2012, which covers all Ministries, Public bodies and Public Agencies. Matters of Confidentiality are governed by the State Security Act, 1997 and Code of Ethics published by IIA and IAASB.Structure and Functional Arrangements
The Division’s mandate pertains to the management of the debt portfolio of the country, which includes external debt and domestic debt. This covers Government and Government guaranteed debt and to some extent non-guaranteed contingent liabilities. It is the division’s responsibility to ensure that Government’s financing needs and payment obligations are met on a timely basis and at the lowest cost possible with a prudent degree of risk. The structure is organised through the following three main functions:- ➤ Portfolio Management
- ➤ Risk Policy
- ➤ Accounting and Transactional Services
- ➤ Limit public borrowing to an amount that is consistent with its medium-term payment capacity
- ➤ Reduce net debt when possible
- ➤ Work towards an optimum structure for public debt that minimises cost and risks, including currency mismatch, adverse movement in interest rates, and refinancing
- ➤ Promote the functioning of efficient domestic capital markets
- ➤ Ensure that public debt service costs are accurately provided for in the budget
The Division is headed by Mr. Dick Labonte.
Public Accounts Management and Treasury Division
The Public Accounts Management section is responsible for building capacity among reporting entities in areas of public finance management, receiving reports from reporting entities to provide feedback. The section must ensure continuous improvement in operational financial procedures, documentation of processes and uniformity in the application of processes, procedures and regulations.
On the other hand the Treasury maintains the accounts of government, prepare annual financial statements and ensure that accounting systems respond to government’s needs for the proper processing, recording and accounting of financial transactions and for financial reporting.
Asset Management Unit (Asset Seizure)
Asset (Seizure) Management Unit (AMU)
The Asset (Seizure) Management Unit (“AMU”) is established under Section 3 of the Custody, Management and Disposal of Seized, Forfeited or Confiscated Properties Act, 2021. Its functions are specified under Section 4 of the same Act.Mandate
- ➤ Act as the primary mechanism for managing, and when necessary, disposing of property frozen, seized, forfeited or confiscated.
- ➤ Collaborate and support the relevant Ministries, Departments and Authorities which deals with properties frozen, seized, forfeited or confiscated under laws in force in the Republic.
- ➤ Take custody, maintain and do all such things necessary to preserve the value of the properties and take measures to dispose of them.
- ➤ Have due regard to bona fide third parties and take measures to protect their rights.
- ➤ Maintain proper records of the properties frozen, seized, forfeited or confiscated to the Republic.
Macroeconomic Forecasting & Analysis Division
Macroeconomic Forecasting and Analysis Division (MFAD)
The Macroeconomic Forecasting and Analysis Division is the central unit within the Ministry of Finance, National Planning & Trade responsible for analysing Seychelles’ economy and fiscal position. It serves as the government’s lead advisor on macroeconomic trends, fiscal sustainability, and tax performance, while also working closely with the Central Bank of Seychelles, the National Bureau of Statistics, the Seychelles Revenue Commission, and international partners such as the IMF.Key Functions
- ➤ Macroeconomic Forecasting: MFAD develops and maintains models to project GDP and other key indicators. This includes preparing sectoral forecasts, ensuring consistency across national accounts, and engaging with major businesses through surveys and consultations to strengthen projections.
- ➤ Tax Revenue Forecasting and Policy Analysis: The Division prepares revenue forecasts for all major tax lines and analyses the impact of proposed policy changes. We produce monthly and quarterly revenue reports, support the preparation of the annual Budget, and cost new tax policy proposals to guide government decision-making.
- ➤ Fiscal Risk Monitoring: Since 2023, MFAD has published its first Seychelles’ Fiscal Risk Statement, presented alongside the National Budget. This report identifies risks arising from state-owned enterprises, global and domestic economic conditions, Budget execution and environmental factors. To strengthen preparedness, the Division also uses scenario modelling to test the resilience of public finances against various shocks.
- ➤ Research and Statistics: MFAD sources, compiles, and analyses economic data to inform policy decisions. This includes maintaining key databases, refining forecasting methodologies, and publishing major reports such as the Budget Strategy and Outlook, the Mid-Year Economic and Fiscal Outlook, the Statement of Tax Expenditure, and the Fiscal Risk Statement.
Our Contribution
MFAD’s work underpins the credibility of the national Budget and ensures Seychelles’ fiscal policies are grounded in solid evidence and realistic projections. By combining technical expertise with close collaboration across government and international institutions, the Division plays a vital role in promoting fiscal sustainability, economic resilience, and transparent policymaking.
Ms. Sophie Belle is currently overseeing the Division.
Internal Audit Division
Internal Audit Division
As per Section 27 of the Public Finance Management Act 2012, the role of reviewing the finance management system operated by Ministries and Public Bodies by the Internal Audit is described in three key functions (i.e. Terms of References) as follows:
- ➤ Appraising the soundness and application of the accounting, financial and operational control of each entity
- ➤ Evaluating the effectiveness and contributing to the improvement of the risk management process of the entity
- ➤ Providing assurance on the economy, efficiency and effectiveness of the administration of the programs and operations of the public bodies
Our Vision is to be the pioneer in promoting effective internal controls, risk management and governance environment in MDAs, and our Mission is to provide a high level of independent assurance and confidence to the Management by evaluating the adequacy and effectiveness of Internal Control System, Risk Management Process and Value for Public Money of the Government bodies.
The scope of the Internal Audit Division is limited to the budget-dependent MDAs only.
The Division is headed by Chief Internal Auditor, Ms. Joan Valmont.
Financial Services Development Division
The FSDD is the Ministry’s policy engine for a strong and sustainable financial system.
The FSDD’s work goes beyond drafting policies – it brings together regulators, agencies, and stakeholders to build a financial sector that is stable, innovative, and inclusive. By keeping Seychelles aligned with global standards while encouraging growth and transparency, the Division helps ensure the financial system remains credible, trusted, and supportive of the country’s development goals.
Key Functions
- ➤ Formulate policies and provide advice on financial stability, transparency, integrity, and development.
- ➤ Coordinate financial sector policies with regulators and stakeholders.
- ➤ Design and monitor the implementation of the national financial services development strategy.
- ➤ Recommend reforms to broaden and deepen financial sector inclusiveness.
- ➤ Monitor and evaluate the financial system to support government economic policy.
- ➤ Identify and address financial system vulnerabilities with regulators.
- ➤ Promote financial inclusion, literacy, and capacity-building of institutions.
- ➤ Oversee compliance with AML&CFT&CPF and international tax transparency standards.
- ➤ Ensure sound regulation of all market players and strengthen legal frameworks.
- ➤ Support research and innovation in financial sector products.
- ➤ Coordinate with agencies on schemes, reforms, and emerging technologies.
The Division is headed by Ms. Odile Vidot.
Domestic & International Tax Policy Division
Domestic & International Tax Policy Division (DITPD)
The Domestic & International Tax Policy Division (DITPD) spearheads the development of policies and legislation in relation to taxes to ensure that the country’s tax regimes always reflect elements of fairness, equality, transparency and efficiency. Its role stems from conducting in-depth research on relevant taxes and related policy issues. It works closely with other Divisions within the Ministry and external entities to provide rigorous analytical support in a wide variety of policy areas.
Functions
- ➤ Formulate tax policies to meet Seychelles’ long term fiscal needs and promote economic growth, investment and social objectives
- ➤ Provide independent evidence-based analysis and comprehensive research works on tax policies
- ➤ Deliver tax policies and legislation to ensure maximum revenue collection through an efficient tax regime whilst ensuring effective social impact
- ➤ Propose reforms to ensure the continued fairness and effectiveness of tax policies
- ➤ Undertake regular consultations with relevant stakeholders.
- ➤ Ensure close relationships with national, regional and international stakeholders in relation to tax policy matters.
- ➤ Act as focal point for all matters relating to the negotiation and the implementation of Seychelles international tax treaties.
- ➤ Initiate, participate and oversee transformation of the policy content into legislation during the legal drafting process.
The Division is headed by Mrs. Seylina Joymon.
Financial Planning and Control Division
The Financial Planning and Control Division is responsible for ensuring prudent management of the Government’s financial resources. It advises on fiscal and budgetary matters, prepares and monitors the national budget, oversees key fiscal reforms, and manages public assets and external financing. Through effective planning, oversight, and reporting, the Division supports transparency, accountability, and the achievement of national socio-economic priorities.
Roles / Functions
- ➤ Advise Government on fiscal and financial matters that have a bearing on the Government budget performance.
- ➤ Formulate the national budget in line with macroeconomic and financial parameters within a stipulated timeframe reflecting prioritized national needs to be pursued within sustainable limits.
- ➤ Monitor the implementation of the budget and provide remedial measures for correcting material variances from the budget.
- ➤ Prepare instructions to entities contributing information for the fiscal strategy and coordinate the production of the fiscal strategy.
- ➤ Oversee periodic reviews of policies and rates related to non-tax revenue collections across government.
- ➤ Review the alignment of spending by public bodies during the year with the annual budget.
- ➤ Coordinate key fiscal reforms affecting the national budget and related government sectors.
- ➤ Oversee the process to develop, assess, approve, monitor, review, and evaluate public investment projects and public-private partnership projects.
- ➤ Manage fixed assets including planning, policy development, monitoring, recording, operating, and disposing.
- ➤ Manage external financing in the form of grants and loans through effective coordination with relevant partners, ensuring proper recording, accounting, and reporting.
- ➤ Produce the mid-year review report and annual performance report, including coordinating with the Accountant General to include the annual financial statements.
- ➤ Prepare other reports as required by the Minister or Principal Secretary of Finance.
The Division is headed by Comptroller General, Mr. Jude Commettant.
Procurement Oversight Unit
Procurement Oversight Unit (POU)
The Procurement Oversight Unit (POU), as established under Section 8 of the Public Procurement Act 2008, serves as the central body for procurement policy formulation, oversight and monitoring within the public sector.
Its mandate includes developing standard documents, regulations and guidelines that govern public procurement processes and actively monitoring their implementation to ensure consistency, fairness, transparency, value for money and compliance across government entities.
Our Main Objectives
- ➤ Transparency
- ➤ Competition
- ➤ Economy
- ➤ Efficiency
- ➤ Fairness
- ➤ Accountability
Central Procurement Unit
The Unit is headed by Mrs. Audrey Payet.