Christine Iauve, a vegetable farmer from Magautou village, used to keep her hard-earned cash in a safe. Now she, and hundreds of others in rural and remote areas, are getting access to banking services, and setting ambitious goals.
Banking & Finance
The Bank of Papua New Guinea argues that the government should fund its spending plans from the domestic banking system. Meanwhile, the government is ramping up its borrowing from foreign sources. Who is right?
Papua New Guinea’s currency, the kina, has lost around eight percent of its value against the US dollar over the past 12 months. What does this mean for business?
In what is believed to be a first for Papua New Guinea, Lihir Island landowners will have access to a new lending scheme to finance their small businesses and help foster economic development on the island.
Papua New Guinea’s Government has an ambitious target of creating 500,000 locally-owned businesses over the next 20 years. The National Development Bank is key to its plans, as Managing Director Moses Liu explains.
‘A work in progress’ is how Brett Andrew describes his rebuilding of the decades-old Papua New Guinea finance firm, RIFL.
Papua New Guinea’s largest bank, BSP, has joined PNG’s growing mobile wallet market, with the launch last week of Wantok Moni.
Interview: departing CEO Ian Clyne on three companies that have transformed Papua New Guinea forever
After five years as ‘boss bilong BSP’, Ian B Clyne completes his five-year appointment as the CEO of PNG’s largest bank at the end of this month. Business Advantage PNG caught up with him for one final chat.
Kina Assets Management Limited (KAML), Papua New Guinea’s first and only listed investment company, has announced a return of 7.2% for the first quarter of 2013.
Commercial lawyer Steven Kami says PNG’s superannuation and life insurance sectors are worried about the effect of the new prudential standards on corporate governance, and in particular the effect on eligible directors.