Victoria, Seychelles – 5th April 2025: Cable & Wireless Seychelles (CWS) held its third Annual General Meeting (AGM) since becoming a listed entity at the Savoy Seychelles Resort & Spa in Beau Vallon. The event brought together shareholders, members of staff, and the media to reflect on the company’s performance in 2024 and outline its strategic priorities for the year ahead.

In his opening remarks, Mr Andrew Bainbridge, Chairman of the Board expressed his appreciation to shareholders for their continued support while acknowledging the service outages experienced in December. “At Cable, we pride ourselves on uptime and value for money. Though we compare favourably on a global scale, we fell short on this occasion,” he said. He outlined corrective steps already in motion, including a phased equipment replacement programme and improved early-warning signals for incident response teams.”

The AGM highlighted a year of robust financial results, with CWS posting a total revenue of SCR 931.9 million—a 2.3% increase year-on-year. Operating profit rose by 4%, reaching SCR 313.4 million, while net profit surged by 32.8% to SCR 224.5 million. The company also declared a dividend of SCR 22.17 per share, reflecting a 2.3% increase from the previous year.

Speaking at the AGM for the first time as CEO, Mr Naadir Hassan reaffirmed the company's commitment to transformation and innovation:

“CWS will continue to lead innovation and bring new digital solutions to the market. To stay relevant in a saturated sector, we must evolve from being just a connectivity provider to becoming a true enabler of digital transformation.”

He further emphasised the need to embed customer centricity across all operations, noting that this would be supported through internal training, infrastructure investments, and robust system monitoring.

Chief Financial Officer, Mr Petros Kambadzo, delivered a detailed financial overview, noting significant achievements across all key performance indicators, including a record-high net profit increase and strong free cash flow.

“Our strong performance is anchored in strategic cost efficiencies, a disciplined investment framework, and a customer-centric growth agenda. We are well-positioned to continue delivering long-term value to our shareholders,” he stated.

As Cable & Wireless Seychelles enters a new phase under Mr Hassan’s leadership, the company remains committed to delivering value beyond connectivity—strengthening its market position, accelerating digital transformation, and deepening its relationship with customers across Seychelles. Through infrastructure enhancements such as the GigaNet rollout and continued investment in education and youth empowerment, CWS plays a meaningful role in shaping a more connected, capable, and inclusive future for the nation.