Solomon Islands Leverages Technology to Boost Compliance in Digital Economy

A Milestone in Digital Transformation

Honiara, Solomon Islands - Over the past four years, the Government of Solomon Islands has made significant strides in developing its digital economy, with a focus on using data to inform policy and regulatory decisions. The country’s commitment to leveraging technology has led to notable achievements in promoting compliance and driving innovation.

Key Achievements

• Digital Economy Score: According to recent data collected through the Inclusive Digital Economy Scorecard (IDES), Solomon Islands’ Digital Economy Score (DES) increased from 39% at the end of 2020 to 42% by the end of 2022.
• National Financial Inclusion Strategy (NFIS): The country’s progress was driven by initiatives such as updating its NFIS using IDES data, which identified digital financial services as a key driver for achieving financial inclusion goals.
• Regulatory Sandbox: The Central Bank of Solomon Islands (CBSI) launched a regulatory sandbox in April 2022 to encourage more innovators to launch services such as digital microloans.
• Mobile Money Service: Our Telekom introduced the country’s first mobile money service, M-Selen, which has led to the inclusion of 20,000 new users in the digital economy.

Global Recognition and Partnerships

Solomon Islands’ experience with IDES has not only contributed to its own digital transformation but also inspired other countries in the Pacific region. Tonga, for instance, officially adopted IDES in 2023, leveraging Solomon Islands’ expertise and data to inform its own digital economy initiatives.

• International Stakeholders: Organizations such as the Alliance for Financial Inclusion (AFI) and GSMA use Solomon Islands’ IDES data in their analyses on women’s financial inclusion and mobile money.
• Pacific Digital Economy Programme (PDEP): The programme, jointly implemented by UNCDF, UNDP, and UNCTAD, has been supporting Solomon Islands’ digital transformation journey. The programme receives funding from the Governments of Australia, New Zealand, and the European Union.

Future Plans

As Solomon Islands continues its digital transformation journey, it is set to collect and validate IDES data again in June 2024 to assess progress and identify key priorities for continued growth. With a firm commitment to leveraging technology and sound data-driven decision-making, the country is well on track to building an inclusive and responsive digital economy that meets the needs of its people.