Turnover of 75 million USD despite the obstacles

Seychelles’s Islands Development Company (IDC) achieved remarkable progress in 2023, showcasing a revenue exceeding 75 million USD.

Despite some hurdles, 2023 proved to be a success for IDC. According to its CEO, Glenny Savy, these challenges were mainly linked to delays in project completion and logistical, shipping, and material supply issues. Nonetheless, the company’s financial performance strengthened over the past year. The Seychellois company recorded a profitability surpassing 10 %, thus exceeding investor expectations. Furthermore, the company employs nearly 1,800 individuals, significantly contributing to Seychelles’ workforce.

Operationally, IDC achieved notable successes across various sectors, including tourism, aquaculture, and providing services to island operators. Also, the company initiated development projects such as Assomption and Coëtivy. Moreover, the company reaffirms its commitment to social development with initiatives like handing keys to 20 young families for a co-ownership project in Perseverance. Additionally, IDC plans to support the renovation of the former Creole Institute and several schools, showcasing its dedication to the community and sustainable development.