Papua New Guinea is expected to join 20 other jurisdictions on the intergovernmental Financial Action Task Force’s ‘grey list’ in February 2026. However, CEOs in the banking sector tell Business Advantage PNG they are confident they can manage the situation, and are optimistic it will lead to reforms.
Papua New Guinea’s financial institutions are playing a leadership role in digitalising its economy. The country’s bankers talk to Business Advantage PNG about their major investments in new technology, and how this is driving business growth.
Interviews conducted for the annual Business Advantage PNG print magazine, to be launched in March, reveal a newfound appetite for investments outside of Papua New Guinea’s capital.
There is broad agreement that Papua New Guinea needs more competition in its banking sector, and several finance companies have flagged their desire to acquire banking licences. What happens next, however, is likely to depend on government action.
A new Group CEO for BSP Financial Group, Barrick Gold and Heduru Moni announce new Independent Directors, Kina Bank welcomes new Regional Manager and Coca-Cola appoints new marketing executive.
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.
Foreign exchange inflows improving, Moni Plus opens in Lae, and changes to boards of government-owned businesses. Your weekly digest of the latest business news.
Businesses in Papua New Guinea may be finding it hard to get foreign exchange, but credit quality within the domestic economy remains relatively healthy. Finance executives and analysts tell Business Advantage PNG that there has been only a slight deterioration of kina-denominated credit, despite the weak economy.
Businesses in Papua New Guinea seeking to establish a presence in the Asian region are increasingly looking at Singapore as a stepping-stone to expand their market reach or increase their shareholder base. There is also growing interest from Singapore-based businesses looking at the PNG market.
With Papua New Guinea’s soon-to-be-completed National Transmission Network likely to bring improved internet speeds and reliability by the end of the year more PNG companies are expected to explore the possibility of selling goods and services online. Andrew Wilkins looks at the potential for ecommerce.
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