Micro finance sector in Papua New Guinea expanding services

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Sharing nearly 500,000 clients, Papua New Guinea’s micro finance industry is expanding its reach, its numbers and its services. Business Advantage PNG looks at what the industry is offering.

In brief: Santos and Oil Search increase production following PNG LNG start-up, and other business stories

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Santos and Oil Search increase production following PNG LNG start-up, Crater Gold raising funds for mine development, and regional tuna stock report due out August. Your weekly digest of the latest business news.

People moves: Paradise Magazine, Nationwide Microbank, Newcrest Mining, General Electric

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A new Editor for Paradise Magazine, new Directors at Nationwide Microbank, and shake-up of Newcrest Mining executive team.

In brief: moves to reserve small business for locals, Ok Tedi orders stayed and BSP profits up

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Moves to reserve small businesses for locals, Court rescinds orders preventing Ok Tedi from dumping waste and BSP records 11% profit increase. Your digest of the week’s business news.

Five questions for … Tony Westaway of Nationwide Microbank

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Microfinance has grown considerably in PNG in the past few years. Business Advantage PNG talks with Tony Westaway, Managing Director of Nationwide Microbank, about the transformative power of microfinance and the sector’s rapid growth.

In brief: PNG looks to refinance Oil Search loan, first corruption conviction and other stories

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Future of government shareholding in Oil Search revealed next month, former planning minister guilty of corruption, BHP sees long-term future in gas and other local and regional stories.

BSP launches its own mobile wallet

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Papua New Guinea’s largest bank, BSP, has joined PNG’s growing mobile wallet market, with the launch last week of Wantok Moni.

Reaching out to the unbanked

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Papua New Guinea’s strong financial services sector is becoming ever more sophisticated in servicing both the mass-market and premium ends of the market. ‘PNG continues to have a very, very strong banking sector. We are very lucky here to have the banks that we do. Investors want that, and they often don’t expect that there’s […]