As an organization that strives to achieve excellence in corporate governance, the Solomon Islands Chamber of Commerce and Industry (SICCI) has delivered a third Essential to Directorship Programme in Honiara.
Following the success of the training held first in July last year, then in November again, SICCI in partnership with the Institute of Directors, New Zealand (IODNZ) delivered the programme again from 14 – 17 May 2019. The program was again delivered at the Heritage Park Hotel.
Twenty-six (26) individuals ranging from Board Directors, Chief Executive Officers (CEOs), General Managers and Senior Managers from Solomon Water, Solomon Islands National Provident Fund (SINPF), Solomon Telekom Company Limited, Bulk Shop, ANZ Bank, Tongs Corporation, South Pacific Oil (SPO) Limited, Toner Shop Limited, Island Enterprises Limited, Eagon Plantation Limited took part in the training.
This programme offers a comprehensive introduction to boardroom governance. It exposes participants to international best-practice in developing organisational strategy, oversight of finance, managing risk and assessing performance. It is delivered over four days.
SICCI Board members have participated in this programme since the first delivery.
New board members of the Chamber, Ms. Uta Temahua and Ms. Hilda Lamani including Mr. Sohaib Mahmood, Country Head for ANZ, participated in this recent programme.
Mr. Mahmood, who is serving his second term on the SICCI board explains.
“The SICCI Board in conjunction with the IODNZ has endeavoured to deliver this course in Honiara since 2018. As the peak body representing private sector in the country, SICCI is proud to be offering this high calibre programme in the Solomon Islands. Not only targeting SOEs and multinational companies, it is an extremely relevant course also for family owned businesses who are thinking of enhancing governance and formalising strategy. This recent group of participants, including myself now represent seventy-six (76) Directors, CEOs and Senior Managers who have been educated in international best practice of corporate governance.”
First delivered in-country last year in July, with a second offering in November, participants have come from various industries in the country including construction, tourism, agribusiness, industrial goods, water and power utilities, fisheries and telecommunications.
As a participant, Ms. Lamani found the training to be useful both in her capacity as Manager of Star Supplies Company as well as SICCI Board Member for 2019.
“Governance plays a strong role in defining leadership and management practices that achieves long-term success. When board directors, CEOs and senior managers undergo trainings like this, they will appreciate that governing is both an inclusive approach, as well as a necessary long-term vision-setting exercise that has to be driven at all times by the Board of that organisation.”
“I am confident that the course has helped all the participants to think about how to go one step further in professionalising good practices in the boardroom. I appreciate now that whether a for-profit company or a not-for-profit organisation, the business or that NGO is the legal entity. And that there is a distinction between executive and Board management, all looking to the best interest of that entity and its continued existence and growth,” Ms Lamani said.
“We were informed of our country’s legal framework regarding statutory compliance as well as given some really handy tools to use in developing and instilling a culture of high performance,” she added.
As one of its long-term goals, SICCI aims to contribute to enhancing executive performance in the country.
The Chamber sees this raising of corporate governance standards as important not only for SOEs and companies, but also for churches, civil society and government agencies as ultimately it will lead to improved or enhanced performance.
The four-day programme focuses on essential of governance, strategic planning, role of the board, evaluating strategy and risk concepts, risk governance, risk concepts and risk management process from a director’s perspective. Participants learnt basic terms and principles, as well as workshopped examples using financial analysis tools to interpret the progress of the organization and assessment of new projects that would build value.
There was also a session on Solomon Islands company and insolvency law and related legislation.
SICCI acknowledges its successful partnership with IODNZ and the strong support from the Australian High Commission, British High Commission, Solomon Power, Solomon Water, Sol-Law Lawyers, Solomon Telekom Company Limited and Heritage Park Hotel towards the Directorship Programme.
Participants received certificates after the completion of the training on Friday 17 May 2019.
The British High Commissioner, His Excellency David Ward also hosted a reception for the participants at his residence on the evening of Thursday 16 May 2019.
The Essential to Directorship Programme is a flagship event which SICCI will continue to host annually. The Chamber anticipates a fourth delivery in Quarter 2, 2020.