The Solomon Islands National Provident Fund (SINPF) has bought out all cable from Wireless communication shares in Solomon Islands Telekom Company.
The share was purchased for SBD$100 million which NPF will now own 97.32 percent in Solomon Telekom.
The remaining 2.69 percent is owned by the Investment Corporation of Solomon Islands.
Speaking to members of the media yesterday, Chair of NPF Board Baoro Koraua said this will ensure the company is competitive for better communications.
“This will ensure that the company remains competitive in the market and continue to grow its services and business while meeting national targets of opening our rural areas for better communication.”
Mr Koraua adds the purchase will protect NPF’s investment in Solomon Telekom to ensure it’s growth.