BY NED GAGAHE
THE Solomon Islands National University (SINU) is positioning itself to become a financially sustainable and “bankable” institution, with plans to develop a university-owned housing estate and commercial projects through partnerships with the private sector.
In his article “The State of Our University”, Vice-Chancellor Professor Transform Aqorau said SINU has made major progress in reforming its governance and financial systems, enabling the university to confidently pursue public–private partnerships for the first time in history.
“For SINU to truly serve future generations, we must move beyond dependence on government funding alone.
“Our goal is to become a well-managed, creditworthy institution that can attract investment and generate its own income to support education,” Professor Aqorau said.
A key milestone in this shift has been the University Council’s approval of a new Public–Private Partnership (PPP) policy, which provides a clear framework to engage investors, banks, and development partners.
Under this policy, SINU has begun discussions with institutions such as the National Provident Fund (NPF), BRED Bank, and other private sector entities to explore co-investment opportunities.
Among the projects being considered are; a SINU housing estate, expanded student accommodation, and commercial facilities on university land.
SINU holds significant land assets in Honiara and other provinces, which Professor Aqorau said were underutilised for many years due to weak governance and financial controls.
“That opportunity cost was enormous.
“Today, because our governance is stronger and our finances are being brought up to standard, we can finally unlock the value of these assets in a way that benefits students, staff, and the nation,” he said.
The university has also made progress in securing and formalising its land holdings across Guadalcanal, Malaita, Western Province, and other regions, with plans to expand campuses beyond Honiara.
A proposed fourth campus in Malaita, at Aligegeo, is among the developments currently being pursued in collaboration with government authorities.
According to Professor Aqorau, revenue generated from commercial developments will be reinvested directly into the university to fund improved teaching facilities, internet connectivity, laboratories, libraries, and student support services.
“Financial sustainability is not about profit for its own sake.
“It is about ensuring we can provide quality education, better facilities, and more opportunities for Solomon Islanders, now and into the future,” he said.
The growing interest from banks and investors reflects increasing confidence in SINU’s management following reforms that have seen financial accounts brought up to date, new oversight systems introduced, and council committees strengthened.
As SINU continues its transformation, the Vice-Chancellor said the move towards becoming a “bankable” university marks a critical milestone in building a resilient national institution capable of supporting the country’s long-term development.
“Our land, our people, and our partnerships are strategic assets. Used wisely, they will help SINU stand on its own feet and better serve the Solomon Islands for generations to come,” Professor Aqorau said.
Photo: Supplied
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