Sogavare’s Land Deals and Loans Spark Fresh Controversy

Prime Minister Manasseh Sogavare is facing a new wave of criticism over his controversial land deals and loans, which have sparked concerns about corruption and impropriety.

The Latest Controversy

In 2015, when Sogavare was prime minister for the third time, he and his wife purchased a Henderson land for SBD 1.5 million (approximately $190,000). Satellite images showed that the land contained a small dwelling at the time of purchase.

However, during a parliamentary questioning session, Sogavare claimed to have obtained another loan to fund the deal. Unfortunately, land registry documents failed to reveal any record of such a loan.

Escalating Controversy

The controversy has taken a turn for the worse with revelations that Sogavare and his wife took out three separate mortgages worth SBD 7,161,590 (approximately $916,688) from BRED Bank in 2018. These loans were secured against properties the couple had acquired earlier, including the Henderson land and a family home in Vura.

Questions of Affordability

Financial experts have raised questions about how Sogavare and his wife could afford such large mortgages, given their combined annual income of SBD 409,230 (approximately $51,000). The couple’s financial records show that they had no other substantial sources of income at the time.

Calls for Transparency and Accountability

Anti-corruption experts have called for transparency and accountability from the prime minister. “Based on what you’ve outlined by way of valuations, and his earning capacity, it appears he’s got a large loan and undertaken an expensive construction project that’s beyond his means,” forensic accountant Fehon said.

Switch in Allegiance

Sogavare’s critics have also raised concerns about the prime minister’s switch in allegiance from Taiwan to China in 2019. The move has been met with widespread criticism, and has led to increased Chinese investment in Solomon Islands.

Growing Pressure

The latest controversy comes as Sogavare faces growing pressure over his handling of the country’s economy and governance. The 2021 riots in Honiara, which damaged the couple’s Lungga property, were driven in part by public anger over Sogavare’s switch in allegiance from Taiwan to China.

Opposition Calls for Investigation

Opposition lawmakers have called for an investigation into Sogavare’s land deals and loans, citing concerns about corruption and impropriety. “The people of Solomon Islands deserve transparency and accountability from their leaders,” said opposition leader X. “We will continue to push for answers on these shady dealings.”

BRED Bank’s Response

BRED Bank has declined to comment on the matter, citing confidentiality agreements with its clients.

Demanding Transparency

As the controversy continues to unfold, Sogavare’s critics are demanding greater transparency and accountability from the prime minister. The people of Solomon Islands deserve to know how their leader is using public office for private gain, they say.