Accountable Ministers
Minister for Finance and Treasury and the Minister for Mines, Energy and Rural Electrification
Responsible Minister
Minister for Mines, Energy and Rural Electrification
Board of Directors
| Director | Position | Expiry |
| Mr. Donald Marahare | Chairman | 20/04/2024 |
| Cynthia Wickham | Deputy Chairman | 20/04/2024 |
| William Parairato | Member | 28/09/2023 |
| John Balande | Member | 20/04/2024 |
| Gloria Hong | Member | 20/04/2024 |
| George Rausi | Member | 25/11/2024 |
| Tony Makabo | Member | 25/11/2024 |
Activities
Solomon Islands Water Authority (SIWA), trading as Solomon Water, is a State-owned Enterprise created under the Solomon Islands Water Authority Act 1992 to provide water and sewerage services in urban areas of the country (currently Honiara and three provincial centers).
SIWA is subject to the State-owned Enterprises Act 2007 and State-owned Enterprises Regulations 2010.
SIWA is governed by a board of directors that is responsible to the Accountable Ministers, being the Minister for Finance and Minister for Mines, Energy and Rural Electrification.
Vision and Mission
Solomon Water’s vision is “safe water for a healthy nation” and its mission is to “provide reliable and safe water supply and sewerage services within our area of operations in Solomon Islands”.
Community Service Obligations
Solomon Water received SBD4.6million, SBD3million, SBD4.3million, SBD3.7million and SBD3.1million in payments for the provision of community service obligations (CSOs) in 2016, 2018, 2019 and 2020, respectively. These CSOs are focused on provincial water supply and were subject to a contract with the Ministry of Finance. In 2017, there were no CSO payments was received by Solomon Water.
Financial Highlights
| (SBD ‘000) | 2016 | 2017 | 2018 | 2019 | 2020 | 5-yr Average | |
| Revenue | 112,395 | 100,570 | 111,227 | 108,359 | 132,418 | 112,994 | |
| Net Profit After Tax | 25,272 | 7,336 | 5,403 | 2,343 | 17,100 | 11,491 | |
| CSO payments | 4,636 | 0 | 3,000 | 4,317 | 3,777 | 3,146 | |
| Total Assets | 350,234 | 384,311 | 334,328 | 332,040 | 379,542 | 356,091 | |
| Total Liabilities | 146,271 | 168,688 | 125,372 | 120,741 | 153,287 | 142,827 | |
| Shareholders’ Funds | 203,964 | 215,623 | 208,956 | 211,300 | 226,254 | 213,220 | |
| ROE % | 12.4% | 3.4% | 2.6% | 1.11% | 7.56% | 5% | |
| ROA % | 7.2% | 2% | 1.6% | 0.71% | 4.51% | 3%% | |
| Asset Utilization | 32% | 26% | 33% | 33% | 35% | 32% | |
| Cash / Current liabilities | 1.817 | 1.653 | 1.549 | 0.410 | 1.321 | 1.350 | |
The average total asset for SIWA during the 5 -year period is total of $356.10 million SBD and total assets has remain on constant growth over the 5 years. The average revenue collected during this 5 year is total of $113 Million SBD, revenues collected are mainly from Water sales and other incomes. The average profit during the 5 years is total of $11.5 Million SBD. However, due to high expenses of Salaries and employers’ benefit, corporate expenses and other financial obligations that have reflected on the low profits. Based on the financial statements, SIWA have recorded a positive ROE and ROA during the 5-year period, this indicates that SIWA has been able to utilize their equity capital and assets to maximize their profits.
Important Documents
SIWA Financial Statements: 2014 I 2016 I 2017 I 2018 I 2020
Statement of Corporative Objectives
- SIWA Statement of Corporative Objectives 2017-2019
- SIWA Statement of Corporative Objectives 2018-2020
- SIWA Statement of Corporative Objectives 2019-2021
- SIWA Statement of Corporative Objectives 2021-2023
- SIWA Statement of Corporative Objectives 2024-2026
Annual Report: 2014 | 2016 | 2017 | 2019
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