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Banking and finance

No hard devaluation of the kina, says Bank of Papua New Guinea Governor

21 Aug 2023 by Leave a Comment
With a new strategy to manage Papua New Guinea's foreign exchange shortages expected soon, the Bank of Papua New Guinea's Acting Governor, Elizabeth Genia, has moved to reassure business leaders that a devaluation of the country's currency is not on the cards.
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Papua New Guinea’s stock exchange looks to blockchain

22 Jun 2022 by 2 Comments
The prospect of instantaneous settlements on Papua New Guinea's stock exchange, PNGX, has moved a little closer with a new agreement to explore blockchain technology to support its trading system. PNGX Chairman David Lawrence tells Business Advantage PNG the technology could 'turbocharge' PNG's capital markets.
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Technology & growth: Moni Plus looks to a banking licence and IPO

8 Jun 2022 by Leave a Comment
Despite the pandemic’s severe economic impacts in Papua New Guinea, financial institution Heduru Moni Limited (trading as Moni Plus) achieved record-breaking revenues and profits in 2021. Business Advantage PNG sat down with the company’s new CEO, Aho Baliki OBE, to discuss its successes and ambitious plans for growth.
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Regulator rejects Kina Bank’s acquisition of Westpac’s Papua New Guinea assets

14 Sep 2021 by 7 Comments
It is back to the drawing board for Kina Bank and Westpac, as Papua New Guinea's Independent Consumer and Competition Commission has issued a 'final determination' declining authorisation of Kina's proposed acquisition of Westpac Papua New Guinea.
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