The Minister of Finance, Hon. Sili Epa Tuioti, as the responsible Minister for the Samoa
International Finance Authority (SIFA) presented a SAT$7,295,548.99 cheque to Cabinet on
Wednesday 17 th March 2021 as SIFA’s payment of dividend to Government through the
Minister of the Ministry of Public Enterprise, Hon. Lautafi Selafi Purcell.
This is the first time SIFA is paying the 35% Dividend pursuant to the Public (Performance and
Accountability) Bodies Act 2001, following the re-classification of SIFA from a Public Beneficial
Body to a Public Trading Body by MPE in 2020.
SIFAs contribution to Government is not limited to this new requirement by way of its re-
classification and now subject to payment of the 35% Dividend. Annually, for the past 5 years,
SIFA has contributed SAT$15,000,000 to the Government budget through the Ministry of
Finance and has paid about SAT228,000,000.00 to Government Budgets since establishment in
1988. SIFA’s financial assistance extends further into the Community and to our international
sporting teams and events evidenced by SIFA’s sponsorship of our Manu Samoa 7s teams, our
national Netball team’s, and many other sports.
Despite the many challenges, the seismic shifts in how international financial services is
conducted, exacerbated by the onset of the COVID-19 pandemic, crippling even the strongest
of economies worldwide, SIFA has taken an adaptive approach to meet the new challenges and
take advantage of opportunities, ensuring SIFA continues to be responsive to the needs of
clients, the market and to operate effectively, and to provide the necessary financial support to
the Government and to our people.
As such SIFA has demonstrated its resilience and ability to weather the storms and navigate its
way among and within a dynamic industry that is constantly evolving and changing, and this is
reflected in SIFA’s strong financial position and its continued support and compliance with
Governments’ dividend policy.
The SIFA Board, Management and Staff give all the glory, honour, and praise to God for the
blessings and success we have experienced and pray that His favour will continue to be upon
SIFA and the Government of Samoa and its people.