Solomon Islands Broadcasting Corporation

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Accountable Ministers

Minister for Finance and Treasury and the Prime Minister

Responsible Minister
Prime Minister

Board of Directors

Alpheaus Zobule Member 5/02/2019
Christina Bakolo Member 5/02/2019
Ella Kauhue Member 2/03/2019
Eric Chow Member 2/03/2019
Catherine Launa Nori Member 8/04/2018
Robert Iroga Chairman 8/04/2018

 

Activities
The Solomon Islands Broadcasting Corporation (SIBC) is a state-owned enterprise established by the Broadcasting Act 1976 to provide a broadcasting service, by radio, of a wide range of programs for the information, education and entertainment of all people living in the sovereign borders of the Independent State of Solomon Islands.

As a state-owned enterprise, it is also subject to the State-owned Enterprises Act 2007 and State-owned Enterprises Regulations 2010.

SIBC is governed by a board of directors that is responsible to the Accountable Ministers, being the  Minister of Finance and Treasury. The Responsible Minister is the Prime Minister.

Vision and Mission
The SIBC is the main channel by which the Government of Solomon Islands enables the provision of information and education services to the communities, including up-to-date information and different perspectives on matters affecting their quality of life, livelihoods, cultural well-being, health, safety and security in times of emergency or disease outbreaks and development generally. The SIBC remains, for the majority of people in most communities, the main provider of worthwhile and relevant information for their educational, livelihood and personal objectives. These include cultural, sporting, religious, commercial and community objectives.

Community Service Obligations
SIBC received SBD3.9 million in CSO payments in 2015 and 2016 and SBD2.5million in 2017. These payments are to compensate for the provision of government radio programs, including emergency services where the advertising revenue is insufficient to cover the costs of services. The CSOs were subject to a contract with the Ministry of Finance.

Financial Highlights

Financial Highlights (SBD ‘000) 2013 2014 2015 2016 2017 5-yr Average
Revenue 7,449 10,489 10,607 11,216 9,462 9,845
Net Profit After Tax 1,183 1,860 1,009 2,004 (346) 1,142
CSO payments 1,000 4,006 3,900 3,930 2,500 3,067
Total Assets 10,504 18,911 18,865 20,281 36,270 20,966
Total Liabilities 4,552 4,015 2,960 2,373 1,974 3,174
Shareholders Funds 5,952 14,896 15,905 17,908  34,270 17,786
ROE % 19.9% 12.5% 6.3% 11.2% -1.0% 9.8%
ROA % 11.3% 9.8% 5.3% 9.9% -1.0% 7.1%
Asset Utilization 71% 55% 56% 55% 26% 53%
Cash / Current liabilities 0.804 0.476 1.370 1.392 0.386 0.886

Important Documents

SIBC Financial Statements: 2014 | 2015 I 2016 I 2017

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