<\/p>\n
The 2026 Seychelles Country Growth and Jobs Report found that the proposed changes could also generate the equivalent of more than 7 600 better-paying jobs.<\/p>\n
<\/p>\n
Real wages could rise by almost 8%, while household purchasing power could increase by more than 8%, improving living standards and expanding economic opportunities. \u201cSeychelles has ambitious goals for the future, and achieving them will require continued reforms that support productivity, innovation and private-sector growth,\u201d Seychelles Minister for Finance, Economic Planning, Trade and Investment Pierre Laporte said.<\/p>\n
<\/p>\n
\u201cThis report provides important insights to help guide our efforts to create opportunities for young people, generate jobs, strengthen competitiveness and improve living standards for all Seychellois.\u201d<\/p>\n
<\/p>\n
Seychelles has recorded more than three decades of economic growth and achieved Africa\u2019s highest income per capita.<\/p>\n
<\/p>\n
However, an ageing population, skills shortages, high business costs and vulnerabilities associated with the country\u2019s small size and geographical isolation are placing pressure on future growth.<\/p>\n
<\/p>\n
The report also identified barriers affecting private-sector investment, youth employment and digital adoption. \u201cSeychelles has built an impressive development record and achieved one of Africa\u2019s highest standards of living,\u201d World Bank Division Director for Mozambique, Madagascar, Mauritius, Comoros and Seychelles Fily Sissoko said.<\/p>\n
<\/p>\n
\u201cThe next challenge is to unlock higher productivity and continue creating quality jobs, raising incomes and expanding opportunities for future generations.\u201d<\/p>\n
<\/p>\n
The World Bank identified modernisation, better use of human capital and digitalisation as three priorities.<\/p>\n
<\/p>\n
Labour regulations should be updated, while foreign labour management, trade and investment rules and commercial justice require reform to support business expansion and job creation.<\/p>\n
<\/p>\n
Seychelles should also address youth vulnerability, improve education and workforce skills and strengthen pathways between school and employment.<\/p>\n
<\/p>\n
Digital reforms should focus on improving the quality and affordability of internet services, expanding digital government platforms and strengthening digital skills. \u201cTargeted reforms in the labour market, human capital and digital transformation can help the country build a more competitive, resilient and inclusive economy,\u201d Sissoko said.<\/p>\n
<\/p>\n
The report said implementing the reforms together would produce the strongest results.<\/p>\n
<\/p>\n
–WorldBank\/ChannelAfrica–<\/p>\n","protected":false},"featured_media":35622,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-45767","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Seychelles could increase economic output by 13% and create 2 900 additional jobs by 2040 through reforms aimed at raising productivity, according to the World Bank.","published_date":"","news_description":"Seychelles could increase economic output by 13% and create 2 900 additional jobs by 2040 through reforms aimed at raising productivity, according to the World Bank.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/45767","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/45767\/revisions"}],"predecessor-version":[{"id":45768,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/45767\/revisions\/45768"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/35622"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=45767"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=45767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}