BSP PNG | BSP says small and medium-sized enterprises (SMEs) need to build capability to take full advantage of the opportunities that will be created through the coming super-cycle of PNG resource projects.
Speaking at the 41st Australia Papua New Guinea Business Forum Conference in Brisbane, BSP Head of Business Banking Raymond Logona said building capability was essential for PNG businesses to maximise the benefits arising from the country’s next wave of major resource developments.
“We know that in the next decade there will be major opportunities for PNG businesses as major projects are developed, such as the Papua LNG Project, the Wafi-Golpu Project, the Frieda River Copper-Gold Project, and energy projects in Bougainville and Port Moresby.
“Together, these projects present a super-cycle of opportunity for small and medium-sized enterprises in PNG. However, to take full advantage, businesses need to start working now on their business strategies and the capabilities required to support these major investments.
“BSP has recognised the opportunity to support our business customers. We launched our dedicated Business Bank last year and are investing K1.2 billion in a multi-year programme to modernise the BSP Group for growth.
“This includes upgrading our technology and digital channels and creating world-class products and services to support the growth of small and medium-sized enterprises.
“We are also investing through our partnership with Australian Business Volunteers (ABV) to deliver the YES GROW programme, which is designed to build capability among our SME customers so they can use new digital tools, manage cash flow, and make better use of finance to prepare for growth opportunities.
“For example, through our partnership with ABV, we currently have a YES GROW Business Development Programme workshop underway in Lae, with 18 local PNG SMEs from the agriculture, construction, electrical, transport, and retail sectors attending.
“This group joins more than 600 small businesses across PNG and the South Pacific that have strengthened their capability through the programme’s intensive training and personalised coaching.
“These skills are vital for businesses seeking to take advantage of the opportunities being created by PNG’s continued economic growth and the coming super-cycle of resource and infrastructure projects,” Logona added.
Logona was joined by ABV Chief Executive Officer Liz Mackinlay, who highlighted the achievements of the partnership.
“ABV is proud to be partnering with BSP to help SMEs transform their enterprises for sustainable growth, positively impacting the wider economy and supporting their families and communities into the future. We look forward to bringing the YES GROW Programme to Bougainville later this year,” Mackinlay said.
Since its inception in 2018, BSP’s partnership with Australian Business Volunteers has provided intensive, practical training and personalised mentoring to more than 600 small businesses in the South Pacific, including 400 in Papua New Guinea across 19 sectors.
According to BSP, investing in the YES GROW initiative is a strategic response to the operational challenges facing small business owners and the local economy.
The YES GROW model, co-designed by ABV and BSP, is specifically tailored to address the realities of the PNG market, including foreign exchange (FX) pressures, rising costs, and infrastructure constraints.
Participants emerge from the programme with an advanced understanding of commercial requirements, improving their ability to navigate economic challenges, manage operations successfully, and achieve long-term business goals.
BSP is the Magic Diamond sponsor of the Forum Registration Desk at the 41st Australia Papua New Guinea Business Forum, which was held in Brisbane from Wednesday, 13 May, to Friday, 15 May 2026.
