By 1983 it was becoming clear that industrial tuna fishing was becoming a reality in Seychelles and that this development would transform the fisheries sector in the country. In September 1983, the Seychelles Industrial Fisheries Authority (SIFA) was created. This Authority was established in view to develop the fishing industry to its fullest potential. It was to take charge of all industrial fishing development and would represent the Government in all negotiations related to industrial fishing.
The Ministry of National Development was responsible for Government policies on fishing, but SIFA would be an independent organisation with autonomous legal and financial status. SIFA soon gave way to the formation of the Seychelles Fishing Authority (SFA) with the passing of the Seychelles Fishing Authority (Establishment) Act,1984.
SFA on its formation, took over the staff of the Fisheries Division and those of the Fisheries Development Company (FIDECO). At the very beginning SFA was entrusted with a research and development role from the Fisheries Division and a commercial role from FIDECO. In the early years, SFA had a very strong commercial slant to its activities. It either took over or created the following companies:
❖ Seychelles Fishing Company Ltd. (looking after SEYKOR)
❖ Indian Ocean Marine Ltd. (Ship chandler)
❖ Seychelles Electronics Marine Company Ltd (SEYCMI) (Joint Venture)
❖ Seychelles Radio Maritime Company Ltd (SERAMACO) (Joint Venture)
❖ Société Thonière Seychelloise Ltd. (Joint-Venture)