SIB expresses concerns over tender process allegations |04 March 2024

The Seychelles Investment Board (SIB) has expressed concerns about the allegations being made with regard to the tender process for the Victoria Waterfront Development project.

In a press release issued yesterday, SIB stated “we affirm that the process and subsequent evaluation were done in compliance with the relevant procedures under the Procurement Act”.

“The evaluation of the project bids was conducted by an independent Evaluation Committee consisting of both public and private sector representatives,” it further added.

SIB said that in line with the Procurement Act, any aggrieved bidder who has not been successful has the right to appeal against the decision by Wednesday, March 6, 2023, as per the letter issued to them.

“Henceforth, their appeal will be heard by an independent Investment Appeals Panel,” read the statement.

“SIB assures its commitment to upholding transparency and fairness in all its procedures. We look forward to the completion of this project and a more vibrant Victoria,” it concluded.

On Friday, SIB announced it was in the process of awarding successful bidders for the first phase of the Victoria Waterfront Development project and there was a cooling off period to allow the aggrieved bidders to appeal.

According to SIB following the launch of the request for proposals on October 2, 2023, a total of 21 submissions were received and all selected bidders are Seychellois investors.

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