On May 10, 1910 two young men established PNG’s first commercial bank. Burns Philp had been reluctantly providing banking services before Messers Pickering and Sefton arrived at Port Moresby harbour, and set up shop as the Bank of New South Wales in Douglas Street.
With confidence restored in Papua New Guinea’s superannuation sector, POSF Ltd, one of PNG’s two major superannuation companies, is proactively engaged in nation-building.
National Superannuation Fund, or NASFUND, is representative of the strong leadership now being shown by Papua New Guinea’s financial sector. It wasn’t always so, as the fund’s Chief Executive Officer Rod Mitchell tells Business Advantage.