VICTORIA, Seychelles — Residents of La Digue are expected to gain access to basic commodities from the Seychelles Trading Company (STC) at more affordable prices, following a memorandum of understanding signed between the STC and the L’Union Estate Company Limited at L’Union Estate yesterday.
Signing the agreement were STC chief executive Ashik Hassan and L’Union Estate Company Limited chief executive Loncy Micock, in the presence of representatives from both parties. Mr Hassan said the partnership will allow STC’s category 1 portfolio, complemented by a basket of other STC essential goods, to be retailed to consumers on La Digue at prices closer to those on Mahé. STC will ship a weekly mixed container consignment directly to L’Union Estate, and will bear the cost of transportation, while maintaining its wholesale operations on La Digue and absorbing all transportation costs of commodities sent to the island.
As part of the agreement, STC has extended a 30-day credit line to L’Union Estate to ease cash flow pressures, and has donated shelving units. Mr Hassan said the agreement coincides with STC’s 17th anniversary, and that the company is also ready to work with other retailers on the island. Mr Micock described the agreement as a step in the right direction to better the lives of La Digue residents and reduce the cost of living, noting that La Digue relies on Mahé for all its commodities and by the time goods reach the island, prices have tripled. Construction materials will also be a focus, with STC planning to expand storage areas to help ease construction costs.
