Cable & Wireless Seychelles Declares SCR 133 Million Dividend Amidst Strategic Shift
Cable & Wireless Seychelles (CWS) has announced a dividend payout of SCR 133 million—or SCR 22.17 per share—following a year marked by ambitious investments, technological upgrades, and changes in leadership.
The announcement came during the company’s third Annual General Meeting (AGM) as a publicly listed entity on the MERJ Stock Exchange, held on Saturday at the Savoy Resort & Spa in Beau Vallon. Shareholders and directors gathered to reflect on a transformative year for the nation’s largest telecom provider.
Chairman Andrew Bainbridge acknowledged the December 2024 service disruptions, calling them the result of “the largest system upgrade in the company’s history.” He offered an apology on behalf of the Board, noting that the overhaul was necessary and unlikely to recur. The company has since implemented infrastructure reviews, phased equipment upgrades, and early-warning systems to improve resilience.
Bainbridge also highlighted several 2024 milestones, including the completion of CWS’s GigaNet project, which now delivers internet speeds of up to 10 Gbps—making it the fastest broadband provider in Africa. The rollout of solar systems across company facilities was also credited as a key sustainability initiative.
A significant moment during the AGM was the official handover from retiring CEO Georges D’Offay, who served CWS for 50 years, to newly appointed CEO Naadir Hassan, former Minister of Finance.
In his inaugural address, Hassan reported a 2.3% increase in revenue, totalling SCR 931.9 million, and an operating profit of SCR 313.4 million. He stressed the need for CWS to become “an enabler of digital transformation” rather than just a connectivity provider.
“Customer centricity will be one of our core pillars,” Hassan stated. “It’s what sets us apart.”
In a media interview, Hassan reflected on the country’s high internet costs and acknowledged the tension between public taxes and digital affordability. “Lower taxes is something that the private sector would welcome,” he said, adding that tax relief could support the government’s digitalisation agenda by improving affordability for consumers.
Hassan also noted that expanded bandwidth allocations from Seychelles Cable Systems (SCS) have allowed operators to offer more data at better value. “The amount of capacity released to operators in the last few years has allowed us to provide more for the same price,” he added.
As CWS celebrates its financial performance and prepares to pay out dividends, the company is also signaling a broader ambition—one that places it at the centre of Seychelles’ digital future.
