Tue, 01 Sept 2026 ·HONIARA ·Updated daily

All Updates · Business & Economy

All collected updates from verified Solomon Islands sources.

Ngossi Ward 1 Youth Complete Two-Day Financial Literacy Training

NGOSSI WARD 1 PARTICIPATED IN TWO‐DAY FINANCIAL LITERACY TRAINING Young people from Ngossi Ward 1 took part in a two‐day Financial Literacy Workshop held at White River in celebration of International Youth Day. Participants engaged in practical money‐management lessons, including budgeting, saving, and planning for future goals, equipping them with essential skills for everyday financial decision‐making. Organizers from Ngossi Ward said the initiative reflects their commitment to empowering young people with the knowledge and tools needed to build stronger, more sustainable livelihoods. The training was supported by the Honiara City Council Youth Division and the TMC Foundation. Photo: Shoreyann Ragoso for Isles Media News Desk

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Sunday Isles Business & Economy · 2026-08-11 Original ↗

East Malaita seaweed farmers applaud MPA for support

BY RODRICK DESURI Auki Members of the Asitolo Seaweed Farming Association from Kwai and Ngongosila in East Malaita have applauded their Member of Provincial Assembly (MPA), Preston Billy Farobo, for supporting their seaweed farming activities. Mr Farobo supported the association with three 40-horsepower outboard engines and three ray boats, which were received by the farmers yesterday. Chairman of the Association, Jack Ofasia thanked MPA Farobo for his continued support, saying the boats and engines will assist his members with transportation, harvesting and marketing of their seaweed. “On behalf of the association, I want to thank Mr Farobo for his endorsement and the expenses he incurred from the beginning until today,” Mr Ofasia said. He said Farobo had also assisted the association by securing seaweed nursery from Walande, which the farmers planted, harvested and later sold to him as their buyer of dried seaweed. “And now, through his endorsement, today we have received three 40-horsepower outboard motors with the ray boats,” he said. He said the boats are very important because some of their seaweed farms are located on Leli Island. “The outboard motors will be used to transport seaweed during harvesting, planting and marketing,” he said. Mr Ofasia also acknowledges the Government, through the Ministry of Fisheries and Marine Resources, (MFMR) for considering and approving their application for the boats and outboard motors. He said the support will strengthen the association’s ability to expand its seaweed farming activities and improve the livelihoods of its members. Mr Farobo has been supporting other rural producers by purchasing dried cocoa and copra from inland communities, helping farmers gain access to markets and earn income from their agricultural produce. For feedback, contact: rodrickdesuri50@gmail.com Editor: irwin3angiki@gmail.com

Island Sun Business & Economy · 2026-08-11 Original ↗

CTI-CFF fisheries partnership delegates learn seaweed farming techniques from community visit in Western province

BY CHARLES STENNETT Delegates of the Coral Triangle Initiative of Coral Reefs, Fisheries and Food Security, CTI-CFF, Fisheries partnership had the opportunity to engage directly with local seaweed farmers and learn about community-based seaweed farming practices that support food security, sustainable livelihoods, and the responsible use of marine resources during a community visit to Rarumana community, Vonavona lagoon in Western Province. The visit was part of the CTI’s Fisheries Technical Working group meeting hosted in Noro, Western Province. The Ministry of Fisheries and Marine Resources (MFMR), said during the visit, community members shared their knowledge and demonstrated seaweed farming techniques, highlighting how this growing industry contributes to household income while promoting sustainable coastal resource management. The ministry said experiences and lessons learnt from the visit will help inform national and regional fisheries initiatives, ensuring that community voices remain central to sustainable fisheries management and coastal development. The delegates and partners thanked the Rarumana community for their warm hospitality and valuable knowledge sharing. The visit reaffirms the important role that coastal communities play to advance sustainable fisheries and strengthen regional collaboration under the CTI-CFF. Photo credit: MFMR For feedback, contact: charsstennett@gmail.com Editor: irwin3angiki@gmail.com

Island Sun Business & Economy · 2026-08-11 Original ↗

“ The wealth of this nation must serve the many and not the few”

“ The wealth of this nation must serve the many and not the few” Honiara, Solomon Islands – South Guadalcanal MP Hon. Rollen Seleso has welcomed the Government’s proposal for a Sovereign Wealth Fund but says the framework must guarantee legally enforceable benefits for customary landowners and provinces. Hon. Seleso said he supported the principle of strengthening State participation in mining, increasing downstream processing and ensuring the country’s mineral wealth benefits Solomon Islanders. “The wealth of this nation must serve the many and not the few,” he said. However, he questioned how much of the returns flowing into a proposed Sovereign Wealth Fund would reach the customary landowning communities where mineral resources are located and the provinces that bear the environmental costs of resource development. He also questioned what governance arrangements would protect the Fund from political pressure during future budget cycles. Hon. Seleso called on the Government to explain what legislation will establish the Fund, when that legislation will be tabled and whether Parliament will see the proposed framework before Cabinet endorses it. He also called for clarity on what “equitable benefit-sharing” will mean in legally enforceable terms. “In the experience of Guadalcanal, benefit-sharing that is not written into law and independently audited becomes benefit-sharing that is negotiated away,” he said. “A Sovereign Wealth Fund without a benefit-sharing law is a Fund for the State. Our people need both.” Hon. Seleso said the proposed reforms provided an opportunity to ensure Solomon Islands’ mineral wealth delivers lasting benefits to the communities and provinces that host and support resource projects. [ENDS]

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SBM Business & Economy · 2026-08-10 Original ↗

Solomon Islands on display at Treasures of the South Pacific Roadshow

Solomon Islands on display at Treasures of the South Pacific Roadshow Gold Coast, Queensland Australia - Keeping the Solomon Islands high profile at the 2026 Treasures of the South Pacific (ToSP) East Coast Australia Roadshow (from right) Tourism Solomons Australia/New Zealand Trade Manager, Richard Skewes; Papatura Island Retreat’s Nick Blanche; Tourism Solomons’ Team Leader – Short Haul Markets, Brenden Mautoa, and Solomon Island specialist travel expert, Go Tours Christine Norton. More than 800 consultants registered interest in attending this year’s ToSP events taking place in regional and capital cities in Queensland, New South Wales and Victoria. The high numbers are a clear signal of the significant business potential the South Pacific region represents to the Australian travel industry. Established as a regional trade platform in 2017, ToSP is a coalition of national tourism offices that collaborate to promote travel and educate the Australian tourism industry about South Pacific destinations. The Solomon Islands is a core member of the organisation joining Fiji, the Cook Islands, Samoa, Vanuatu, New Caledonia, Tahiti, Niue, Norfolk Island, and Palau. The organisation also assists those more remote island nations lacking Australian representation as part of a ‘Hidden Treasures’ initiative. Members include Kiribati, Nauru, Tuvalu, the Marshall Islands, and the Federated States of Micronesia. ToSP is heavily backed by major sponsor Fiji Airways, alongside regional bodies including Pacific Trade Invest Australia and the Pacific Tourism Organisation.

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SBM Business & Economy · 2026-08-10 Original ↗

Commerce Ministry Acknowledges Gap in National Labour Workforce Data

Government lacks a comprehensive database on Solomon Islands’ formal workforce, prompting plans for a national labour survey The Ministry of Commerce, Industry, Labour and Immigration says the Government does not yet have a single, comprehensive database showing the size of Solomon Islands’ formal labour workforce. The issue was raised during the Public Accounts Committee’s examination [...] The post Commerce Ministry Acknowledges Gap in National Labour Workforce Data appeared first on Tavuli News (Solomon Islands) .

Tavuli Business & Economy · 2026-08-10 Original ↗

PAC questions $2.5m SIBC allocation

BY NED GAGAHE THE Public Accounts Committee (PAC) has questioned the proposed $2.5 million allocation to the Solomon Islands Broadcasting Corporation (SIBC) under the Office of the Prime Minister and Cabinet’s (OPMC) 2026 supplementary budget. The issue was raised during the PAC inquiry into the 2026 Supplementary Bill, with committee members seeking clarification on how the additional funding would be used and SIBC’s status as a state-owned enterprise. PAC member and former Prime Minister Jeremiah Manele asked OPMC to explain what specific SIBC activities or improvements would be funded through the additional $2.5 million. Responding, Secretary to the Prime Minister (SPM) Dr Melchoir Mataki said the funding was intended to support SIBC’s implementation of its new strategic plan. He said the strategic plan had been approved by the SIBC board before the corporation made a request to Government for financial support. “The additional finances for subvention for SIBC is actually to support them with the implementation of the new strategic plan,” Dr Mataki told the Committee. He said Government considered the request and determined that SIBC should receive support to progress implementation of the plan. Dr Mataki also confirmed that Cabinet had approved the relisting of SIBC under the appropriate schedule of the State-Owned Enterprises (SOE) Act. However, when questioned by PAC Chairman Dr Paul Bosawai on whether the decision had already been gazetted, Dr Mataki said he would need to confirm that. Dr Bosawai then questioned whether SIBC’s budget should remain under OPMC if the corporation had reverted to SOE status. He argued that if SIBC was an SOE, its budget should legally be administered under the Ministry of Finance, given the ministry’s role in overseeing SOEs. Dr Mataki maintained that, under the current budget, SIBC remained under OPMC and said Government support did not necessarily have to go through the Ministry of Finance. The issue was further discussed by Opposition Leader Manasseh Sogavare, who highlighted the distinction between the responsible minister and the accountable minister for SOEs. Sogavare said one of the expectations following SIBC’s return to SOE status should be for the corporation to operate profitably. The $2.5 million SIBC allocation forms part of OPMC’s approximately $15.7 million additional recurrent expenditure contained in the 2026 Supplementary Bill. For feedback, contact: nedgagahe@gmail.com Editor: irwin2angiki@gmail.com

Island Sun Business & Economy · 2026-08-10 Original ↗

Gov’t to strengthen collaboration to support innovation, research, technology transfer

BY LORETTA B MANELE The Great Coalition Government will work nationally and with institutions abroad to support innovation, research, technology transfer and capacity development for farmers. Minister for Agriculture and Livestock Development (MALD) Franklyn Wasi highlighted this during his response to the Speech from the Throne in parliament last week. Initially, he said the Government recognises that agricultural transformation cannot be achieved by Government alone, and pointed out that success requires strong partnerships with research institutions, development agencies, farmer organisations, and the private sector. “We will continue to strengthen collaboration with institutions abroad and nationally to support innovation, research, technology transfer and capacity development for our farmers,” said Wasi. The minister also took the opportunity to acknowledge support provided to the country’s agriculture sector by development partners, and bilaterial and multilateral partners. “We also acknowledge the valuable support provided by development partners including China, Australia, New Zealand, Japan, the European Union, the World Bank, Save the Children Australia, IFAD, FAO, UNDP, UNICEF, JICA, and other bilateral and multilateral partners that continue to invest in strengthening our agriculture sector,” he said. Wasi noted that these partnerships will remain critical as they work towards training 10,000 farmers and expanding extension services across all constituencies. Photo credit: NPSI For feedback, contact: lorettamanele@gmail.com Editor: irwin2angiki@gmail.com

Island Sun Business & Economy · 2026-08-10 Original ↗

Finance delay recovery effort

BY BEN BILUA Gizo THE much-anticipated recovery effort for communities devastated by Tropical Cyclone Maila has been delayed, with Western Province awaiting financial support from the national government. Chairperson of the Western Province Disaster Operation Committee (WPDOC), Collin Potakana, said the Initial Disaster Assessment (IDA) has been completed, paving the way for the province to move into the recovery phase. However, he said the lack of funding is currently preventing the province from rolling out the recovery programme. Potakana said WPDOC is now working on a detailed recovery plan to ensure that available resources are properly coordinated and the implementation process runs smoothly once funding is released. “It’s going to be a huge task, so proper planning is important so that we can roll out the recovery effort smoothly,” he said. Potakana said the provincial level is prepared to begin the recovery process but is now waiting for financial support from the national government through the National Disaster Council and the National Disaster Management Office. He said the province has already undertaken the necessary assessment and planning work, but the recovery effort cannot progress without the financial resources required to implement the identified priorities. The delay is likely to frustrate communities still struggling to recover from the devastating impact of Cyclone Maila, which caused widespread damage to homes, food gardens and other essential assets across Western Province. But Potakana called on affected communities to remain patient while the government works through the process of allocating funds for the recovery operation. He said the provincial disaster authorities remain committed to supporting affected communities and ensuring that the recovery effort is properly coordinated once the necessary funding becomes available. For feedback, contact: maetuana777@gmail.com Editor: rwin2angiki@gmail.com

Island Sun Business & Economy · 2026-08-10 Original ↗

Government Plans Economic Growth Centres Across Constituencies

Government Plans Economic Growth Centres Across Constituencies The Government is moving to bring development and economic opportunities closer to rural communities through the establishment of Constituency Economic Growth Centres (CEGCs) across Solomon Islands. Minister of Rural Development Daniel Waneoroa announced the initiative in Parliament last week, saying the centres would support the Government’s objective of ensuring development is more equitable and benefits the maj...

SBM Business & Economy · 2026-08-10 Original ↗

Gold Ridge Mining Supports Guadalcanal's 42nd Second Appointed Day

Gold Ridge Mining Limited (GRML) has reaffirmed its commitment to the people of Guadalcanal by supporting the successful staging of the province’s 42nd Second Appointed Day celebrations held from July 31 to August 3. The annual provincial celebration commemorates the establishment of local government in Guadalcanal Province on August 1, 1984, marking a significant milestone in the province’s history and for the people of Guadalcanal. As a longstanding corporate partner of Gua...

SBM Business & Economy · 2026-08-10 Original ↗

Guadalcanal to Pilot Mobile System for Revenue Collection

Guadalcanal Province is set to pilot a mobile revenue collection system using the M-SELEN platform. The initiative aims to modernise... The post Guadalcanal to Pilot Mobile System for Revenue Collection appeared first on In-depth Solomons .

In-depth Business & Economy · 2026-08-10 Original ↗

Fishery office holds mud crab training in Heruiesi

BY RODRICK DESURI Auki The Malaita Provincial Fisheries Office has successfully conducted a two-day mud crab farming and fattening training for community members at Heruiesi in Small Malaita. The training, initiated by the Malaita Provincial Fisheries Office and funded by the Malaita Provincial Government, is believed to be the first community-level training of its kind conducted in the province. The training aims to equip rural community members with practical knowledge and skills in mud crab farming, fattening and monitoring. Senior Fisheries Officer, Mathew Isihanua said the training is an important first step towards introducing mud crab farming as a potential livelihood activity for rural communities. He said participants were taught basic techniques for farming and fattening mud crabs, including proper monitoring and management. “This training program was initiated by the Malaita Fisheries Office and funded by the Malaita Provincial Government. This is the first training of this kind to be implemented,” Mr Isihanua said. He said the training attracted interest from community members, who showed willingness to learn more about mud crab farming. Mr Isihanua said participants gained new knowledge and were also provided with mud crab cages to support their farming activities after the training. He also highlighted the possibility of establishing a mud crab hatchery in the future, but said such a facility will require technical expertise, proper equipment and resources. “In terms of setting up a hatchery for mud crab, it will need expertise and equipment for such a setup,” he said. Mr Isihanua encourages the community to demarcate and properly manage areas designated for mud crab farming. He said proper management of farming areas will be important to ensure the sustainability of the activity and to allow communities to benefit from mud crab farming as a potential source of income. For feedback, contact: rodrickdesuri50@gmail.com Editor: irwin3angiki@gmail.com

Island Sun Business & Economy · 2026-08-10 Original ↗

SELESO URGES GOVERNMENT TO BUILD ON EXISTING REVENUE-SHARING BILL

South Guadalcanal MP Rollen Seleso urges Government to refine the existing revenue sharing bill and advance decentralisation Honiara, Solomon Islands – South Guadalcanal MP Hon. Rollen Seleso has urged the Government to build on existing work on provincial revenue sharing rather than starting the legislative process again from scratch. Responding to the Government’s plan to [...] The post SELESO URGES GOVERNMENT TO BUILD ON EXISTING REVENUE-SHARING BILL appeared first on Tavuli News (Solomon Islands) .

Tavuli Business & Economy · 2026-08-10 Original ↗

From roots to riches, David Kebu Jnr revives family cocoa legacy with CEMA

BY DOUGLAS VAHIA After years of exporting cocoa independently, David Kebu Jnr has partnered with the Commodities Export Marketing Authority (CEMA) as a cocoa agent, a move allowing him to focus on producing premium-quality cocoa while helping farmers in his area access a reliable market. David’s decision continues a family legacy that began with his late father, David Kebu Senior, who worked closely with CEMA during the early years of the family’s cocoa business. Through CEMA’s assistance, the elder Kebu was able to market his cocoa and obtain an export licence, laying the foundation for what has become a thriving family enterprise. Since his father’s passing, David Jnr has taken over the family plantation on the fertile Guadalcanal Plains, where he is rebuilding and expanding the farm while sharing his knowledge with other cocoa growers. His plantation has grown from 16 hectares to 20 hectares. As a skilled grafter, David has been rejuvenating older cocoa trees to increase production and improve the plantation’s long-term sustainability. “From January I started working with CEMA, export taxes are too high for me when I export independently, so it is better for me to work as a CEMA agent. CEMA trained me in producing quality cocoa, and I want to give back,” said Mr Kebu Jnr. Kebu Jnr said partnering with CEMA allows him to spend more time improving the quality of his cocoa instead of managing the challenges associated with exporting. Maintaining quality standards throughout the supply chain is one issue David feels strongly about. He believes farmers deserve better returns for producing quality beans, which he says can only be achieved through proper grading and handling. “Bulk mixing reduces quality, so good beans lose their value,” Kebu Jnr explained. “When quality cocoa is mixed with poor-quality beans, everyone loses.” To maintain consistency, David has introduced a family-based management system on the plantation, with each family member responsible for specific blocks of cocoa. While different sections are managed individually, all harvested cocoa is processed centrally to meet the quality standards expected by CEMA and international buyers. Many of the trees on his plantation date back to 1978. Rather than replacing them entirely, David is restoring the ageing trees through radical pruning and grafting techniques to boost productivity. “I neglected the farm for too long,” Kebu Jnr admitted. “Now I’m rebuilding it and letting CEMA handle exports so I can focus on production.” David expects the plantation to reach peak production around September as the cocoa season progresses. Looking beyond his own farm, David hopes to become a trusted buying point for growers throughout the Guadalcanal Plains, purchasing cocoa from farmers between Metapona and Koli to give them easier access to CEMA’s marketing network while encouraging higher-quality production. “I want to support farmers from Metapona to Koli, and we will produce for CEMA,” said Mr Kebu Jnr. David’s story reflects CEMA’s Farmers First vision, which supports stronger partnerships with producers by improving market access, promoting quality production, and backing the long-term growth of the Solomon Islands’ cocoa industry. Photo: Supplied For feedback, contact: diivee56@gmail.com Editor: irwin3angiki@gmail.com

Island Sun Business & Economy · 2026-08-10 Original ↗

Government ministers praise and defend CEMA and its successful Farmers First initiative

BY TONY IROGA The unprecedented good work of CEMA raising the livelihoods of thousands of farmers in the rural areas has been highlighted by government ministers in parliament. The Commodity of Export Marketing Authority (CEMA) under its Farmers First initiative launched in April this year has touched and supported more than 10,000 copra/cocoa farmers including local buyers to date. Since April this year, many farmers have taken to media to show their joy, appreciation and relief at CEMA’s Farmers First initiative which they said has brought stability in market and prices, and overall improved livelihoods for them, their families and communities. The Speech from the Throne last week however had indicated that the new GREAT government was going to kill this momentum by returning CEMA’s functions to when it was defunct – mere regulatory body to facilitate and promote trade. Speaking in parliament on Friday, August 7, Minister for Commerce (MCILI) Harry Kuma defended CEMA and clarified that CEMA will continue its good work to support local farmers. “The Speech states that CEMA must not compete with the private sector and that it will deal only with regulatory affairs, trade facilitation, marketing and matters that facilitate and promote trade,” Kuma said. “However, that principle must be read together with the full GREAT Coalition Policy Statement, the Policy Translation and Implementation Framework, the MCILI Corporate Plan and the practical realities facing indigenous rural producers. “The GREAT policy does not reduce CEMA to regulation alone. It expressly provides for commodity stabilisation, producer support, quality assurance, price information, trade coordination, and the reform—not the abolition—of existing price and freight support for copra and cocoa. It gives priority to remote island producers facing the highest freight costs and calls for a stronger mechanism to cushion producers from sharp price movements and maintain reliable trade. The implementation framework also provides for CEMA revitalisation and recapitalisation, review of the CEMA Act, a 10-year strategic plan and continued oversight of commodity marketing. MCILI’s Corporate Plan recognises CEMA as a statutory body facilitating commodity trade and exports and operating with commercial autonomy under Government oversight.” Mr Kuma acknowledged CEMA’s duty to ensure there are thriving markets in remote communities where the private sector fails to serve. “Sir, it may appear that there are many buyers in Honiara. In a remote community, the real question is whether any buyer arrives, whether the freight is affordable, whether scales and grading are fair, whether payment is timely, and whether the farmer has any genuine choice. Where those conditions are absent, there is a market failure. Government cannot call that a functioning private market and then leave the producer alone with it. “The right reform is therefore not to remove CEMA’s capacity to support trade. It is to discipline that capacity through clear rules. “Where private buyers are present, competitive and reliable, CEMA should facilitate, regulate standards, provide market intelligence, support certification, coordinate freight and form partnerships rather than duplicate their work. Where private markets are absent, unreliable or unable to serve remote producers; where an abrupt price collapse threatens rural incomes; or where aggregation is necessary to fulfil a credible export order, CEMA should retain the lawful capacity to intervene transparently in the public interest.” In his speech on Friday, August 7, Communication and Aviation (MCA) Minister Frederick Kologeto praised CEMA for its Farmers First initiative which is continuing to help farmers, especially copra and cocoa. “I’m happy for the Minister of Commerce, for the CEMA, giving more money to the farmers,” Kologeto said. Mr Kologeto, who is also president of People First Party (PFP), had appealed to landowners to open up their lands for development in partnership with government. He lauded hard-working landowners who are reaping benefits by working together with government, which include the farmers who are benefiting a lot through their engagements with CEMA. The Farmers First initiative began in April this year, which has been CEMA’s major success story since its revitalisation in 2021. Under Farmers First, nearly 11,000 farmers including local buyers have benefited since April – a space of five months. Dozens of farmers have shared their success stories in the media about how the Farmers First initiative has helped them thrive in a regulated environment and protect them from the risks of a high competitive field. Under Farmers First, CEMA is ensuring markets for farmers in remote communities, through landing crafts and buyers, removing the expensive costs of transportation for the farmers. For feedback, contact: tonyiroga8@gmail.com Editor: irwin3angiki@gmail.com

Island Sun Business & Economy · 2026-08-10 Original ↗

Central Bank support Sovereign Wealth Fund

BY CHARLES STENNETT The Central Bank of Solomon Islands (CBSI), is in support of the government’s plan to establish a Sovereign Wealth Fund as a means to address shocks and for the government to use the fund’s interest to finance portions of the national budget. Responding to a question raised by the former Prime Minister Jeremiah Manele during the Public Accounts Committee, PAC hearing yesterday on the Supplementary Bill before the committee, Central Bank Governor, Dr. Luke Forau said the Sovereign Wealth Fund is a good concept and it should not only come from one sector, the mining sector, but other sectors as well. “It must be from all extractable natural resources. We should take some money from them and put it in the Sovereign Wealth Fund. It should not be restricted to only one sector but to all our commodities. We have minerals, forestry, fisheries and other sectors, all of these should be covered under the Sovereign Wealth Fund” He explained that the Sovereign Wealth Fund should be used during rainy days and to address shocks when they arise. Governor Forau added that during normal times, the government can use the fund’s interests to finance its budget. “Basically, the fund is for rainy days so if there’s a shock, that’s the time to use the Sovereign Wealth Fund and also when the days are normal, the government should use the interests of the fund to finance the budget”. Dr Forau said. He added that there should be a legislation to govern this fund. The GREAT government is pushing forward to establish a Sovereign Wealth Fund as part of its reforms. For feedback, contact: charsstennett@gmail.com Editor: irwin3angiki@gmail.com

Island Sun Business & Economy · 2026-08-10 Original ↗

SELESO: SOVEREIGN WEALTH FUND MUST BENEFIT LANDOWNERS AND PROVINCES

Honiara, Solomon Islands – South Guadalcanal MP Hon. Rollen Seleso has welcomed the Government’s proposal for a Sovereign Wealth Fund but says the framework must guarantee legally enforceable benefits for customary landowners and provinces. Hon. Seleso said he supported the principle of strengthening State participation in mining, increasing downstream processing and ensuring the country’s mineral wealth benefits Solomon Islanders. “The wealth of this nation must serve the many and not the few,” he said. However, he questioned how much of the returns flowing into a proposed Sovereign Wealth Fund would reach the customary landowning communities where mineral resources are located and the provinces that bear the environmental costs of resource development. He also questioned what governance arrangements would protect the Fund from political pressure during future budget cycles. Hon. Seleso called on the Government to explain what legislation will establish the Fund, when that legislation will be tabled and whether Parliament will see the proposed framework before Cabinet endorses it. He also called for clarity on what “equitable benefit-sharing” will mean in legally enforceable terms. “In the experience of Guadalcanal, benefit-sharing that is not written into law and independently audited becomes benefit-sharing that is negotiated away,” he said. “A Sovereign Wealth Fund without a benefit-sharing law is a Fund for the State. Our people need both.” Hon. Seleso said the proposed reforms provided an opportunity to ensure Solomon Islands’ mineral wealth delivers lasting benefits to the communities and provinces that host and support resource projects. [ENDS] – OPPOSITION PRESS The post SELESO: SOVEREIGN WEALTH FUND MUST BENEFIT LANDOWNERS AND PROVINCES first appeared on Solomon Islands Broadcasting Corporation (SIBC) .

SIBC Business & Economy · 2026-08-09 Original ↗

‘Business as usual is in the past, time to move forward’ – PM Wale defends GREAT deeds, policies

BY IRWIN ANGIKI Prime Minister Matthew Wale has defended his government’s policies and actions responding to Opposition scrutiny in parliament, saying his government is bringing in true change which has evaded Solomon Islands for decades. Closing the three-day debate on the Governor General’s Speech from the Throne on Friday, Mr Wale addressed questions and accusations by the Opposition Leader. Wale noted the striking similarity in the speeches by the members of opposition, jibing whether their speeches were penned by the same person. Wale cleared misconceptions raised by Opposition on GREAT’s policies and actions, noting most of Opposition’s accusations are problems GREAT inherited from the previous administration rooted in past governments. He said since coming into power, his government has been busy righting the wrongs of past governments in both foreign and domestic fronts. Framing his response in 10 parts, Wale found himself uttering during his speech phrases such as “look in the mirror”, “people in glass houses shouldn’t throw stones” on what he termed as hypocrisy by members of the opposite side who had been part of previous governments. PM Wale also told parliament of corrupt practices in previous governments such as taking money from businesses to hold loyalty among MPs and other practices which amount to elite and state capture leading to compromised governments. Wale said GREAT will get rid of this ‘business as usual’ culture. Fiscal credibility – what a Speech from the Throne is, and what it is not Most Opposition speeches questioned why the Speech from the Throne did not contain details on how government would finance its reforms. Wale reminded Opposition not to confuse the speech from the throne with an appropriation bill. “A Speech from the Throne is not an Appropriation Bill. It is the statement of the Government’s programme, including its legislative agenda. It sets direction. The numbers follow in the instrument our Constitution and our Public Financial Management framework prescribe for numbers, and that instrument is the Budget,” Wale said. Wale also reminded parliament that previous governments have never included detailed costing and framework in their speeches from the throne. Former prime ministers include opposition leader Manasseh Sogavare and opposition member Jeremiah Manele. “In the Speeches from the Throne delivered under the Honourable Leader’s own prime ministership, and in the Speeches delivered under the last two Governments in which he served, not one annexed a costed medium term fiscal framework to the programme it announced. Not one,” Wale said. Free Education – the promise, the questions, and the answers PM Wale defended the GREAT government’s free education policy, stressing that its purpose is to ensure no child is denied schooling because of family poverty. He noted that both sides of the House support this principle, with the main disagreement concerning implementation, cost and sustainability. Opposition had questioned the viability of GREAT’s free education plan. Wale explains that the policy’s precise definition, coverage and relationship with existing education laws are still being finalised, with legislation and full costing to be presented during the year-end Budget session before any funds are spent. He admitted that the policy would weigh heavy on government’s recurrent expenditure, but reassured that essential sectors such as health, roads, rural development and law and order will not be left behind. Wale rejected Opposition’s assertion that free education would replace quality education, saying both would be achieved simultaneously. “On the question of quality, Mr Speaker, I say this with conviction: the choice the Honourable Leader placed before the House, between free education and quality education, is a false choice, and this Government rejects it. Access to education and access to quality education are both achievable, and neither will be traded for the other.” Wale rejected Opposition’s claim that donor funding for the free-education policy would infringe on sovereignty, saying the same donors have supported education for many years without any such happening. “Let us speak the reality: our development partners are today, and have been under every Government represented in this House, among the biggest supporters of education in Solomon Islands. That support did not compromise our sovereignty yesterday, and it does not compromise it today.” Wale however agreed with Opposition that sustaining the policy would eventually be borne by the government, saying his government is ensuring this with its revenue reforms to ‘plug leakages’ in government’s finances, broadening revenue base and slowly absorbing the cost of free education. The foreign policy reset – the anchor, and the ninety days In his speech on Wednesday, August 5, Opposition leader Manasseh Sogavare had mocked the prime minister on his various international trips commencing just two weeks after taking office, dubbing it as ‘90 days around the world’. PM Wale told parliament that his international travels were not an adventure, rather a trip to ‘correct’ Solomon Islands’ foreign relations according to its ‘friend to all, enemy to none’ principle. He said recent geopolitical alignment by previous administrations had eroded trust from some partners which has negatively translated on the daily lives of our people through development finance, infrastructure, labour mobility, investment and security cooperation. Trust, Wale said, is Solomon Islands’ main bargaining chip in its foreign relations. Wale also clarified that the matter of Bougainville was brought up by PNG prime minister James Marape in their bilateral talk. Opposition leader Sogavare in his speech earlier had insinuated that PM Wale had brought up the sensitive issue of Bougainville with Marape. “In Port Moresby, he opened the door to conversations on Bougainville,” Sogavare said. PM Wale said the legacy of Sogavare’s government is the stadium facilities, something he was also thankful for. But, Wale said these infrastructures have since cost government $60 million a year to maintain. GREAT’s legacy on the other hand would be universal education of the young people of Solomon Islands which would bring lasting national benefits, Wale said. “Concrete depreciates, Mr Speaker. An educated people appreciates, generation upon generation. That is the difference between the two legacies before this House, and this Government has chosen its side of it,” Wale said. The partnership with Australia – what exists, and what does not yet exist Wale said negotiations on the proposed treaty-level partnership with Australia remain at a very early stage and that no draft text currently exists for Parliament to examine. He said it would be premature and irresponsible to release details of an agreement that has not yet been developed, emphasising that informing the public that discussions have begun is appropriate and reflects a proper sequence rather than secrecy. The proposed partnership aims to strengthen regional security by addressing gaps in surveillance and intelligence, improving coordination among existing security arrangements, and creating a more coherent regional security framework while fully respecting Solomon Islands’ sovereignty, Wale said. He rejected suggestions that the initiative threatens national independence, maintaining that its purpose is to enhance, rather than diminish, the country’s ability to safeguard its own interests. Wale reassured parliament that GREAT would follow process and bring the treaty to parliament when ready. “When a text takes shape, it will be vetted by the Attorney General’s Chambers. It will go to the Government Caucus. It will go to Cabinet for approval, as our standing process for treaties requires. And it will come to this Parliament. There is nothing in this partnership that needs the dark, Mr Speaker. “Australia is our nearest neighbour, our largest development partner, and an old friend; an instrument with such a partner is precisely the kind of instrument that gains from the light, and it will receive the light at the point in its life when there is something real to shine it on,” Wale said. The Investment Incentive Agreement with the United States – the record restored Wale defended the Investment Incentive Agreement signed on May 23, 2026 as a carefully safeguarded framework designed to unlock development finance while preserving Solomon Islands’ sovereignty, laws and taxation system. He acknowledged Sogavare’s own recognition that projects financed under the agreement remain fully subject to Solomon Islands taxes and domestic laws, including those governing customary land, the environment, labour, mining, public health, and criminal justice. Wale clarified that Cabinet had approved the signing, and that negotiations had been done by the previous government. He said the agreement would be brought to parliament and welcomed scrutiny by relevant committees. He argued that rejecting the agreement would have prevented the United States International Development Finance Corporation (DFC) from providing loans, guarantees, insurance or investment in Solomon Islands. The Shiprider Agreement – what was actually signed on July 28 Wale defended the Shiprider Agreement with the US as a practical tool for strengthening Solomon Islands’ maritime sovereignty and law-enforcement capacity – not surrender control to a foreign power. He said similar agreements operate across 12 Pacific countries and with more than 60 countries worldwide, emphasising that Solomon Islands retains authority over operations, with its officers and laws governing enforcement actions in its waters. Under the arrangement, the US provides vessels, aircraft, fuel, surveillance and operational reach while Solomon Islands provides the sovereign authority and decisions necessary for enforcement. “Operations occur when Solomon Islands asks for them; our officers embark; our laws are enforced; and law enforcement decisions and actions in our waters remain, at every point, under Solomon Islands authority. The United States supplies what we do not have, cutters, aircraft, fuel, surveillance, reach; and Solomon Islands supplies what only Solomon Islands can supply: the sovereign authority, and the sovereign decision,” Wale said. PM Wale said he would bring the agreement before parliament for scrutiny, but will not delay enforcement of the shiprider agreement because the threats that it targets are ongoing. “I will likewise cause the text of the Shiprider Agreement to be made available to this House, and the committees of this Parliament are welcome, as they are always welcome, to examine it within their mandates. What I will not do, and I say this plainly but without heat, is undertake that no operation will occur in our waters until every committee process has run its course, because the poachers in our Exclusive Economic Zone will not suspend their operations while we deliberate, and every month of delay is measured in stolen fish, lost revenue and emboldened criminality,” Wale said. The 1991 Status of Forces Agreement – reading the whole instrument PM Wale defended the 1991 Agreement on the Status of United States Forces saying the agreement preserves Solomon Islands’ primary criminal jurisdiction as the general rule, with limited exceptions concerning offences against US personnel or property and acts performed in official duties. He said the agreement applies only when US forces are present in Solomon Islands with the Government’s authorisation and can be terminated with six months’ notice. Opposition leader Sogavare had warned in his speech that the two agreements (the 1991 agreement and the shiprider agreement) opened the door to continued presence of US military in the Solomons. Sogavare also asked government to table the two agreements. “The Shiprider Agreement, read together with the 1991 Status of Forces Agreement, does not create a formally named United States military base in Solomon Islands. “But it may create something for which our language of debate is not yet ready, a distributed access regime, a system of recurring, rotational, protected United States armed-forces presence in our waters, at our ports, in our airspace and on our facilities, without a single flagpole ever being planted,” Sogavare said. Wale rejected this suggestion saying GREAT will review the 1991 agreement and other inherited security instruments including the controversial 2022 security pact with China. The Public Service – merit, transition, and the way forward PM Wale defended the termination of several senior public servants using the clause 22(j) when GREAT came into power, saying it was a clause created and implemented by previous governments including Opposition leader Sogavare’s. He maintained that government acted lawfully under those existing provisions. Wale also acknowledged that the Public Service Commission has constitutional responsibility for appointments and discipline and says GREAT will respect that authority. Acting appointments have therefore been made to maintain continuity, while permanent appointments will proceed through the Commission’s merit-based processes, Wale said. The constitutional amendments – correcting the record on intent PM Wale argued that the Government’s proposed constitutional amendments are intended not to weaken parliamentary accountability or protect the Prime Minister from no-confidence motions, but to address the deeper causes of political instability in Solomon Islands. Opposition leader Sogavare had said in his speech, “What is proposed is a constitutional amendment, to be brought before this Chamber before the end of this year, designed to constrain the circumstances in which a Government of Solomon Islands may be removed by a vote of this Parliament.” Wale rejected the Opposition Leader’s assertions, noting that no Bill or specific clauses have yet been tabled and therefore should not be speculated in advance. Wale said government’s proposal will target Solomons’ politicking culture which include ‘grasshopping’, weak party structures, shifting parliamentary loyalties and the influence of outside money in political contests as major sources of instability. The disease is illicit money past governments have entertained – cash from foreign business interests to hold loyalty, Wale said. “A government purchased is a government owned, and it is not owned by the people of this country. “That is why the constitutional amendments are to stop Members jumping sides in the ‘national interest’ and, within the same period, jumping back, again in the ‘national interest’. That is the business-as-usual status quo this country is sick of, and every Member of this House has watched it happen,” Wale said. PM Wale also announced that GREAT will table five bills that give parliament autonomy, and had been ready for 10 years but previous governments had not been interested in passing: the Constitutional (Amendment) Bill; Parliamentary Service Commission Bill; Parliamentary Corporation and Precincts Bill; Public Financial Management (Amendment) Bill; and the Parliamentary Evidence Bill. To lead is to serve In closing PM Wale reiterated that the obstacles and challenges Opposition had cited in its scrutiny are excuses for the status quo which GREAT is here to change. “All the obstacles and challenges the Honourable Leader has cited in this debate have long been the excuses for the status quo. The cost that cannot be borne, the capacity that does not exist, the risk that must be avoided, the time that is not yet right: this country has heard every one of them, decade after decade, and they have always arrived dressed as prudence and departed leaving nothing behind,” Wale said. He reminded the House of the country’s motto ‘To lead is to serve’ saying people of Solomon Islands will judge the works all 50 members of parliament by this standard.

Island Sun Business & Economy · 2026-08-09 Original ↗

CBSI Projected a favourable 2026-27 economic outlook

By CHARLES STENNETT The Central Bank of Solomon Islands, CBSI, has projected a favorable economic outlook for Solomon Islands in the latter part of 2026 and a pickup in 2027. Speaking before the Public Accounts Committee (PAC) hearing today, Governor of the Bank, Dr. Luke Forau said the economic outlook for 2026 and beyond is projected to improve to 3.4 percent in 2027, supported by the resilience of economic activities although risks remain tilted to the downside due to the Middle East crisis which will have an impact if it escalates further. “We have projected 2027 to grow by 3.7 percent assuming that commodity productions will recover from the adverse conditions experienced in 2026 and return to a more normal level.” Dr Forau said. Dr Forau said the service sector, government spending and donor assistance is expected to support the projected growth. “The service sector is expected to remain the primary driver of this growth and supported by increased government spending and continued donor assistance and may be a recovery in exports as well.” CBSI Governor added. He however warned that weather conditions such as El Nino and other factors will continue to have effects on some of the country’s main export earning commodities and the overall economic outlook. “The lingering effects of El Nino on agriculture and fisheries outputs may continue to be felt during the first half of 2027” “The downside will mainly come from climate-related events such as El Nino, global Oil prices, weak prices for our exportable commodities, especially copra and cocoa and continued inconsistent inter island shipping services which could weigh in on production, export earnings and domestic demands.” Governor of Central Bank said. Dr. Forau said that Central Bank revised its 2026 economic outlook three times due to varying factors. “This year we initially projected growth to 3.8 percent and because of the Middle East Crisis, we also revised our projection to 3.4 percent because of Tropical Cyclone Maila and with the continued crisis in the Middle East we revised our growth downward again to 3 percent and may be by the end of the year we may revise it again if the Middle East Crisis continue” Dr. Forau Said. In 2026, Dr. Forau said exports in the first half of 2026 went down by 20 percent based on agricultural exports particularly copra and cocoa. “On the other hand Dr. Forau said imports grew by 4 percent reflecting high imports on machinery and basic manufactured goods resulting in a trade deficit of SBD$191 million dollars” Dr. Forau said. On Lending, the Central Bank Governor said there has been an increase in commercial bank lending to the private sector and that Solomon Islands has a very high rate of non-performing loans. “The private sector lending grew by 2 percent to about 3 billion dollars in the first half of 2026 mainly to the distribution sector especially in retailing, personal loans and agriculture”. “Despite the increase in lending, we have seen also an increase in asset quality over non-performing loans to 11 percent from 7.9 percent. By regional standard, this is very high. Non-performing loans should be around 5 percent but despite that, the banks continue to show profitability, well capitalized and well liquid” Dr Forau said. For feedback, contact: charsstennett@gmail.com Editor: irwin2angiki@gmail.com

Island Sun Business & Economy · 2026-08-09 Original ↗

Labour Division lifts prohibition notice, GRML to resume mining at Pit One

By DOUGLAS VAHIA The Labour Division of the Ministry of Commerce, Industries, Labour and Immigration has formally revoked the Prohibition Notice on mining activities at Pit One, allowing Gold Ridge Mining Limited (GRML) to resume operations at the site, subject to compliance with all applicable legal, safety and operational requirements. The revocation follows a detailed presentation made by GRML to the Labour Division on 4th August, regarding the localized slope movement that occurred at the mine site on 27th July. In GRML presentation stated that the Company outlined the activation of its Mine Emergency Response Plan and the full sequence of emergency response and site management measures undertaken following the incident. GRML also submitted a set of technical documents, including its Open Pit Slope Stability Study, Gold Ridge Project Feasibility Study, Mine Emergency Response Plan, Open Pit Slope Online Monitoring System Proposal, and a Geotechnical Assessment Report on the open pit slope instability. Following its review, the Labour Division found the Company’s report to be comprehensive and sufficiently detailed. It also determined that the emergency response to the incident was timely, and that the site management and response measures taken were appropriate and compliant. The Division further considered the Company’s proposed technical remediation and management measures to be practical and capable of implementation, and confirmed that GRML had completed the required corrective actions in line with its rectification guidance. GRML stated that on the morning of 7th August, Labour Division officers conducted a follow-up site inspection at the mine to verify the implementation of the corrective measures and to physically assess the area affected by the slope movement. Based on the Company’s presentation and the findings of the site inspection, the Labour Division approved the revocation of the Prohibition Notice for Pit One, clearing the way for mining activities to resume in the affected area. For feedback, contact: diivee56@gmail.com Editor: irwin2angiki@gmail.com

Island Sun Business & Economy · 2026-08-09 Original ↗

IRD says collections 13.4 percent above year-to-date target

BY NED GAGAHE THE Government has collected around SBD$219 million more than its year-to-date revenue target, with total collections reaching about 60 percent of the annual revenue target by July. Dokekana made the disclosure as the Public Accounts Committee (PAC) begins its scrutiny of the 2026 Supplementary Appropriation Bill , with the Ministry of Finance and Treasury appearing before the committee this afternoon. Dokekana said revenue collections up to July were 13.4 percent above the year-to-date budget, describing the performance as a positive sign for the country’s revenue position. “Up to July last month, we have collected around more than 13.4 percent above the year-to-date budget,” Dokekana told the committee. “That equates to around $219 million above the budget.” He said the Government had already collected about 60 percent of total projected revenue, leaving 40 percent to be collected during the remaining five months of the year. Dokekana attributed the strong performance mainly to mining revenue and improvements in tax compliance. He said joint activities between Customs and IRD had also contributed to the increase, including work to examine valuations and share information held by Customs and the Central Bank. This, he said, had enabled the authorities to issue more accurate tax assessments and collect additional revenue from taxpayers. The Commissioner also told PAC that the Government’s tax reform programme was continuing and was expected to be completed by 2027. The reform covers both legislative and administrative changes aimed at strengthening the tax system. As part of the reforms, IRD is planning a major increase in its workforce. Dokekana said the number of staff is expected to increase from the current 181 to 258 by next year. He said the additional staff would give IRD greater capacity to undertake revenue collection activities. The Commissioner said the upward trend in revenue collection was a good sign, particularly with mining revenue contributing significantly to the increase. He also pointed to improved control over exemptions as another factor contributing to the stronger revenue performance. Dokekana’s appearance before PAC comes as the committee continues its examination of Government’s financial performance and expenditure. The revenue figures provide a more positive outlook for Government finances, although the Commissioner’s comments indicate that mining revenue and improved compliance have been key drivers of the current increase. For feedback, contact: nedgagahe@gmail.com Editor: irwin2angiki@gmail.com

Island Sun Business & Economy · 2026-08-09 Original ↗

Royalties to track Gold Price, New labs to verify mineral exports

BY JOSES SAREN Mining royalty rates will rise and fall with global gold prices under a new sliding-scale system announced by the government. Minister for Mines, Energy and Rural Electrification Derrick Rawcliffe Manuari revealed the reform in his response to the Speech from the Throne in Parliament on Thursday. Under the new system, royalty rates paid by mining companies will move directly with international gold prices. This means the Government will collect a bigger share of profits when gold prices are high. Companies will still pay a fair rate when prices are low, keeping investment attractive. Minister Manuari said the framework would improve fiscal certainty and bring Solomon Islands in line with international best practice on mineral royalties. The reform is part of the same Mineral Resources Bill that introduces the Government’s 25 per cent equity stake in mining projects and the “No Pay, No Ship” export rule, reported by Island Sun yesterday. Alongside the royalty change, the Government will build two new laboratories to check mineral exports independently. The National Mineral Assay Laboratory will verify the value and quality of ore before it leaves the country. The National Geochemical Laboratory will confirm mineral grades, support environmental monitoring and check that royalty payments match what is actually being exported. Both labs are designed to be internationally recognised, meaning their results can be trusted by investors and buyers overseas. Minister Manuari said the labs would strengthen the Government’s ability to independently verify what mining companies report, rather than relying only on company figures. Currently, the Government has limited in-country capacity to test ore grades and verify royalty payments independently. The new labs are intended to close that gap and reduce the risk of underpayment or revenue leakage. No cost or completion timeline for the two laboratories was given in the Minister’s statement. The reforms are expected to come before Parliament as part of the wider Mineral Resources Bill. For feedback, contact: jsbalq909@gmail.com Editor: irwin2angiki@gmail.com

Island Sun Business & Economy · 2026-08-09 Original ↗

Government to Use SIMHL for Up to 25% State Equity in Mining Projects

Government to Use SIMHL for Up to 25% State Equity in Mining Projects The Government will use the proposed Solomon Islands Minerals Holding Limited (SIMHL) to take direct equity stakes of up to 25 per cent in strategically significant mining projects under reforms proposed in the new Mineral Resources Bill. Minister of Mines Derrick Manuari outlined the proposed reforms in Parliament this week while contributing to the debate on, and expressing his support for, the Governor-General’s Speech from the Throne. Manuari said the reforms would fundamentally change how Solomon Islands participates in and benefits from the development of its mineral resources. Under the proposed State Equity Participation Framework, SIMHL will be empowered to exercise statutory back-in rights of up to 25 per cent equity in eligible mining projects. The Minister said this would allow the State to benefit beyond royalties and taxation by also receiving dividends and benefiting from the long-term capital growth of successful mining operations. “The GREAT Coalition Government has further strengthened the proposed Mineral Resources Bill through five strategic policy reforms that fundamentally redefine the manner in which Solomon Islands will govern, develop and benefit from its mineral wealth,” Manuari said. He said the reforms are intended to establish a modern and transparent mining sector that promotes responsible investment while ensuring Solomon Islanders receive a greater and more enduring share of the wealth generated from the country’s natural resources. The proposed framework will also establish a Mining Equity Participation Fund to support the acquisition and management of State equity interests in mining projects. According to Manuari, the framework will further strengthen the participation of customary landowners in mineral development. Another key component will be the establishment of an independent National Mineral Assay Laboratory. The laboratory will provide internationally recognised services for ore verification, mineral valuation, quality assurance and royalty verification. Manuari said the package of reforms represents a significant shift in the Government’s approach to mineral resources—from being a passive resource owner to becoming an active participant in the mining economy. The proposed Mineral Resources Bill is part of the Government’s broader effort to reform the mining sector and ensure that future mineral development delivers sustainable and broader benefits to the State, customary landowners and the people of Solomon Islands.

Government to Use SIMHL for Up to 25% State Equity in Mining Projects
SBM Business & Economy · 2026-08-08 Original ↗