Seychelles: A Paradise for the Powerful, but Hell for the Poor
The Stark Divide between Haves and Have-Not’s
In the stunning archipelago of Seychelles off the coast of East Africa, a small elite has amassed vast wealth through questionable means, while the majority of citizens struggle to make ends meet.
A Web of Offshore Companies and Ties to Power
A recent investigation by The International Consortium of Investigative Journalists uncovered a web of offshore companies and ties between powerful politicians and businessmen, including former President James Michel’s protégé Glenny Savy. Savy, a member of the influential Savy family, owns a significant stake in the country’s insurance company and has business interests in real estate, construction, and more.
Connections to Power
Savy’s connections to Michel are strong, with both men serving on various boards together. This raises questions about nepotism and corruption within the government.
A Haven for Fugitives?
In 1995, the government passed the Economic Development Act, offering immunity from prosecution and extradition to foreign nationals who invested at least $10 million in the local economy. The law was widely criticized, with U.S. officials calling it a “Welcome, Criminals” banner. Since then, several high-profile fugitives have sought refuge on the islands.
High-Profile Fugitives
- Reputed Czech mob boss Radovan Krejčíř arrived in Seychelles in 2005 and claimed to have provided financial support to leading politicians in exchange for protection.
- Marek Trajter from Slovakia has been living on the islands with a fake identity.
Corruption and Money Laundering
The stories of these individuals raise questions about corruption and money laundering in Seychelles. While the government claims to prioritize transparency and accountability, critics argue that the country’s elite is more concerned with protecting their own interests than ensuring justice for all citizens.
The Contrast between Rich and Poor
As one former opposition politician put it, “The people at the top have enriched themselves immensely over the past few years by controlling everything.” The contrast between the luxurious villas and gated communities of Seychelles’ elite and the poverty-stricken concrete shacks of many locals is a stark reminder of the country’s enduring social and economic issues.
A Paradise for the Powerful, but Hell for the Poor
In this stunning archipelago, the divide between rich and poor may never be bridged.