Enterprise Seychelles Agency (ESA), an entity of the Ministry of Investment, Entrepreneurship and Industry has benefitted from a grant of SR1,000,000.00 (One Million Seychelles Rupees) under the Seychelles’ Conservation Climate Adaptation Trust (SeyCCAT)’s Blue Grants Fund 3. The grant will be used towards the implementation of a Blue Economy project entitled “Entrepreneurship Development in the Blue Economy Sector – Advocate capacity building for MSME’s and ESA staff to sustain, grow and create awareness amongst this evolving sector”. The project is in line with one of the Ministry’s core objectives, which is to create employment in priority sectors like fisheries. It will be managed by ESA over a 12-month period.
The grant came through a competitive transparent request for proposal issued in 2019 for projects seeking to support the trialing and nurturing of business models to secure the sustainable development of the Seychelles Blue Economy.
In 2019, Eco-Sol Consulting, also, a SeyCCAT grantee, undertook a detailed assessment of the Blue Economy entrepreneurship ecosystem. The findings have provided evidence for much-needed interventions and effective programs that ESA will deliver on to support and assist the Blue Economy enterprises.
Using the data collected from Eco-Sol’s project, a series of surveys and analyses of existing and potential businesses in the Blue Economy, ESA will help bridge the gaps identified to create sustainable job opportunities and enterprises in the Blue Economy. From the information gathered, capacity building programs for ESA staff and MSMEs will be developed and implemented. One of the key expected results will be a clear implementation-ready workplan on how the government will best assist MSMEs in the Blue Economy.
Public and private stakeholders are partnering together to implement this project. They include the Department of Blue Economy, Seychelles Fishing Authority (SFA), Eco-Sol and other private consultants involved in the aspect of business development, health and safety and sustainable practices.
ESA is one of only three government agencies or departments that has benefitted from the SeyCCAT’s Blue Grants Fund. SeyCCAT boasts a portfolio of 40 projects. The grant is disbursed in tranches into a Suspense Account at the Treasury and subsequent disbursements are tied to achievement of key activities and meeting financial and technical reporting requirements. ESA remains accountable to SeyCCAT for the financial management of the grant.
Enterprise Seychelles Agency extends its gratitude to SeyCCAT for giving the Agency an opportunity to contribute more extensively to the development of the Blue Economy.
