Peter Aitsi, Group Chief Executive Officer of Credit Corporation PNG, says the COVID-19 pandemic has had a significant impact on operations. He tells Business Advantage PNG that the company is moving to a more agile digital platform and diversifying its product range.
A new lender, Savi Moni, is entering Papua New Guinea’s financial services market. Founder and Managing Director Nick Keane tells Business Advantage PNG that the aim is to minimise the burden on employers, provide affordable and responsible loans, and promote financial wellbeing.
Kina Bank has consolidated its position as Papua New Guinea’s second largest bank, and also taken a first step towards becoming a regional bank, by acquiring the assets of Westpac in Papua New Guinea and Fiji.
The current economic conditions are the most ‘challenging in our lifetime’, according to Justin Smirk, Senior Economist at Westpac. He told a Business Advantage PNG briefing that the success of the 2021 National Budget depended on getting Papua New Guinea’s non-resources economy firing.
Kina Bank is introducing some ambitious enhancements to its digital services. Chief Executive Officer Greg Pawson outlines his plans to Business Advantage PNG.
SME Business Advisor Akae Beach, from Beach Accounting Advisory, looks at the pros and cons of taking part in the Papua New Guinea government’s SME concessional loan plan.
Credit card giant Visa is fast-tracking its digital revolution to the Pacific due, in part, to COVID-19. According to its senior South Pacific executive, there will benefits for both businesses and consumers.
The first half of the Papua New Government Government’s promised K200 million funding for small and medium-sized enterprises has been handed over to Bank South Pacific. The money will be used to provide subsidised business loans.
Renegotiating terms or refinancing are proving to be the best way to deal with the shock caused by COVID-19 according to Mark Baker, Managing Director of ANZ Bank Papua New Guinea. In an exclusive interview he tells Business Advantage PNG that improving confidence is the big challenge.
Bank South Pacific’s new BSP Pay service is launched this month with a view to helping MSMEs reach its 1.8 million customers online.