Seychelles: Central Bank Chief steps down in March 2024

The governor of the Central Bank of Seychelles (CBS) Caroline Abel, will leave her position in March 2024 when her contract ends.

C. Abel made the announcement during the CBS press conference on the monetary policy for the upcoming three months, State-run news agency reports.

“Today is my last press conference as governor of the Central Bank. I am preparing myself for the end of my contract, which is mid-March 2024,” she told reporters.

“Sometimes people associate an institution to just one person, and I want to say that the CBS is a team and despite Ms Abel moving forward, the CBS will remain a strong institution. There is nothing for the economy to worry about what will happen to the CBS after 2024.”

The 50-year-old became in 2012 the first woman to be positioned as the central bank governor of the African country. She was reappointed for a second six-year term in March 2018, according to the central bank’s website.

The economist is praised for spearheading the introduction of a revised monetary policy framework at the end of 2018. She is also reckoned with her handling of the press and her ability to educate the public with clear and detailed presentations.

Abel was awarded a Medal of Honor, at the first-ever National Awards ceremony earlier in 2023. She also received the award of Central Bank Governor of the Year by the African Banker Awards Committee in 2020, and the Global Women Achievers Award in 2022 for her influential role in the development of Seychelles’ economy.