Accountable Ministers
Minister for Finance and Treasury and Minister for Infrastructure Development
Responsible Minister
Minister for Infrastructure Development
Board of Directors
| Director | Position | Expiry |
| Moses Virivolomo | Chairman | 25/07/2026 |
| Rose M Martin | Member | 25/07/2027 |
| Allan Lilia | Member | 21/11/2027 |
| Albert Kabui | Member | 25/07/2027 |
| Ali Homelo | Member | 06/02/2025 |
| Robert Luke Iroga | Member | 28/07/2028 |
| Travis Ziku | Member | 25/07/2027 |
Activities
Solomon Islands Ports Authority (SIPA) is a State-owned Enterprise established under the Ports Act 1956 (amended in 1996) to operate the ports of Honiara and Noro. SIPA is subject to the State-owned Enterprises Act 2007 and State-owned Enterprises Regulations 2010. The Authority was legally mandated and endowed with the necessary power to operate the two declared ports of entry into the Solomon Islands and manage efficient services to facilitate import and export of goods and services to the people in the Solomon Islands with a holistic view to improve the trade and life standards.
SIPA is governed by a board of directors that is responsible to the Accountable Ministers, being the Responsible Minister and the Minister of Finance. The Responsible Minister is the Minister of Infrastructure Development.
Vision and Mission
SIPA’s mission is; “To be the Port Operator of choice in the South Pacific by providing world – class services in logistics, shipping and port management.”
Financial Highlights
| (SBD ‘000) | 2018 | 2019 | 2020 | 2021 | 2022 | 5-yr Average | |
| Revenue | 233,375 | 220,697 | 240,584 | 235,024 | 223,860 | 230,708 | |
| Net Profit After Tax | 88,093 | 69,269 | 72,573 | 58,224 | 48,703 | 67,372 | |
| CSO payments | 0 | 0 | 0 | 0 | 0 | 0 | |
| Total Assets | 835,440 | 894,791 | 962,471 | 1,023,393 | 1,080,938 | 956,407 | |
| Total Liabilities | 192,763 | 192,324 | 192,431 | 195,220 | 207,061 | 195,960 | |
| Shareholders’ Funds | 642,678 | 702,467 | 770,040 | 828,173 | 873,877 | 763,447 | |
| ROE % | 13.7% | 9.9% | 9.4% | 7.0% | 5.6% | 9% | |
| ROA % | 10.5% | 7.7% | 7.5% | 5.7% | 4.5% | 7.2% | |
| Asset Utilization | 28% | 25% | 25% | 23% | 21% | 24% | |
| Cash / Current liabilities | 6.74 | 8.64 | 6.54 | 4.87 | 1.37 | 5.63 | |
The average revenue collected by SIPA during the 5-year period is total of $230.71 Million SBD, revenue collection for SIPA remains consistent each year as reflected on the revenue trend. SIPAs average profit for the 5 years $67.4 Million SBD, which is approximately $50 to $60 million SBD a year. However, in 2022 revenue and profit had recorded the least due to the impact of COVID-19 and the travel and border restriction. The average total asset for SIPA during the 5-year period is total of $956.4 Million SBD, SIPA total assets has been increasing each year as reflected on the chart, this was result from capital investment during this 5-year period. Based on the ROE and ROA performance indicator, it shows that ROE and ROA ratio has gradually declining during this 5-year period. This is attribute by increasing assets acquired but less utilizing of it to maximize profit as net profit seems to remain constant and same as for the equity capital, which is reflect on the downward trend of SIPAs ROE and ROA.
Important Documents
SIPA Financial Statements: 2014 | 2016 I 2017 I 2018 I 2020 I 2021 I 2022
Statement of Corporative Objectives
Website