After negotiations which have lasted since January, Bank of South Pacific (BSP ) and Credit Corporation have entered into a ‘Share Sale and Purchase Agreement’, whereby BSP will acquire of Credit Corporation’s financial services businesses, if Credit Corporation’s shareholders approve.
Papua New Guinea finance company Moni Plus is in expansion mode, after launching a state-of-the-art online foreign exchange service earlier this year.
Papua New Guinea’s Treasurer Don Polye gave a comprehensive update on the nation’s economic outlook last week. We asked analysts for their reaction.
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.
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.