The Investment Advisory team met with Mr. Steve Khambatta, the CEO of Amalgamated Tobacco Co., a cigarette manufacturer in Mahe, Seychelles, on Tuesday 30th October.
Amalgamated Tobacco Co. has been in existence for the past 45 years, manufacturing the cigarette brand Mahe King. It currently produces 5 million cigarettes per month, of which 16% are sold at the Seychelles duty-free shop.
The factory boasts 100% local workforce; the company’s shareholders are all Seychellois, as are the 60 employees who work there.
During the visit, the SIB was given a show-round of the cigarette factory to gain a better understanding of the manufacturing process. Following this, a meeting with Mr. Khambatta was held to learn more about the business and the possible challenges faced. One of the ways in which SIB works with an already-established business is to provide advice for re-investment and growth opportunities. These prospects were also discussed during the meeting.