Solomon Islands Water Authority

logo-solomon-islands-siwa

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
Carson korowa Chairman Transition (2019)
Gloria Hong Member 17/12/2021
David Patternot Member 17/12/2021
John Balande Member 12/03/2021
Cynthia Wickham Member 12/03/2021
Donald Marahare Member 12/03/2021

 


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 centres).

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 SBD3.1million and SBD4.6million in payments for the provision of community service obligations (CSOs) in 2014 and 2016, respectively. These CSOs are focused on provincial water supply and were subject to a contract with the Ministry of Finance. No CSO payment was received in 2015 and 2017.

Financial Highlights

(SBD ‘000) 2013 2014 2015 2016 2017 5-yr Average
Revenue 85,955 93,184 101,127 112,395 100,555  98,643
Net Profit After Tax 11,496 6,102 7,176 25,272 7,538 11,516
CSO payments 3,822 3,092 0 4,636 0  2,310
Total Assets 63,879 199,497 330,255 350,234 384,311  265,635
Total Liabilities 30,586 160,102 151,562 146,271 168,688  131,441
Shareholders Funds 33,293 39,395 178,693 203,964 215,623 134,193
ROE % 34.5% 15.5% 4.0% 12.4% 3% 13.8%
ROA % 18.0% 3.1% 2.2% 7.2% 2% 6.5%
Asset Utilization 135% 47% 31% 32% 26% 54%
Cash / Current liabilities 0.561 0.579 1.165 1.817 1.653 1.155


Important Documents

Website