Westpac PNG has announced a significant enhancement to its Bonus Saver Account with a new, market-leading interest rate of 4.25% per annum—rewarding customers for their commitment to saving and helping them grow their money faster. The Bonus Saver Account is designed to encourage consistent saving by offering a high bonus interest rate each month custo...

Papua New Guinea’s leading waste management company, the TWM Group, has secured a major boost with a $10.2 million investment from the International Finance Corporation (IFC), paving the way for the Pacific’s first integrated waste management facility built to international standards. The investment, provided through a kina-denominated fixed-rate loan,...

Members of Comrade Trustee Services Ltd (CTSL) can now enjoy a faster and more convenient process when applying for superannuation withdrawals, following a new partnership with BSP Financial Group Ltd (BSP). The two organisations signed a Memorandum of Understanding (MoU) on 23 September, that allows, with members’ consent, bank statements to be shared...

The Bank of Papua New Guinea (BPNG) and the country’s commercial banks have reached a historic milestone with the signing of a Master Repurchase Agreement (MRA), a development that will transform the operation of Papua New Guinea’s financial system. The MRA establishes a framework that allows commercial banks to borrow and lend to one another—as well a...

Asian Development Bank (ADB) President Masato Kanda met with Papua New Guinea (PNG) Prime Minister James Marape to mark the country’s 50th anniversary of independence and reaffirm ADB’s role in driving connectivity and inclusive growth. He will also meet with Treasurer Ian Ling-Stuckey and other senior officials. During the meeting, Kanda highlighted A...

The Bank of Papua New Guinea’s Monetary Policy Committee (MPC) has announced key policy adjustments aimed at reinforcing price stability and strengthening the role of the exchange rate as the nominal anchor for monetary policy. In its 2 September meeting, the Committee increased the Kina Facility Rate (KFR) from 4.0% to 5.0% and lowered the Cash Reserv...

The Bank of Papua New Guinea (BPNG) has raised its benchmark interest rate to 5.0 percent while easing banking reserve requirements, in a move designed to strengthen the kina, manage inflation, and keep credit flowing across the economy. At its September meeting, the Monetary Policy Committee (MPC) lifted the Kina Facility Rate (KFR) from 4.0 percent t...

Papua New Guinea Minister for International Trade and Investment Richard Maru has announced that the National Executive Council has approved a decision to support small and medium enterprises with grant funding of K100,000 (US$ 24,530) per company. He said the grant was designed to help SMEs export products to overseas markets and would be delivered th...

PacSuper had announced the appointment of Chris Hagan as Chief Executive Officer, effective 1 June 2025, succeeding Eric Kramer, who has resigned from the role after leading the organisation through a period of significant change and transition. Mr Hagan returns to PacSuper with deep superannuation experience, having previously served as CEO of the fun...

Port Moresby, 24 July 2025 – Prime Minister James Marape today welcomed Anna Bjerde, managing director for Operations at the World Bank, to Papua New Guinea for high-level discussions on the country’s development progress, fiscal reform and enhanced partnership with the World Bank Group. Bjerde, who was accompanied by senior World Bank leadership, comm...

Economic growth in Pacific island nations is expected to hold steady this year but slow slightly in 2026, according to the Asian Development Bank’s latest Asian Development Outlook (ADO) released 23 July, 2025. The ADB maintained its 2025 growth projection for the Pacific at 3.9 percent, while the 2026 forecast has been adjusted downward to 3.5 percent...

BUKA — The Autonomous Bougainville Government, through the Department of Treasury and Finance, is modernising its public finance systems with a new contract signed with FreeBalance Inc. to implement a financial management platform aimed at improving transparency, accountability and service delivery. The contract was formally signed last week by Kearnne...

The PNGX Group Limited, operator of Papua New Guinea’s national stock exchange, has welcomed the strong support of Minister for State Enterprises William Duma for expanding public participation in the local capital markets through the recent sale of BSP Financial Group Limited (BSP) shares. Minister Duma confirmed that only Papua New Guinean citizens a...

Westpac Banking Corp. has lowered Papua New Guinea’s economic growth forecast for 2025 from 5.1 percent to 4.7 percent, attributing the revision to a stronger-than-expected 2024 base. But despite the downgrade, the Australian bank remains broadly upbeat about the country’s economic trajectory, underpinned by sound fundamentals, improving liquidity and res...

Kundu Finance, one of Papua New Guinea’s newest but fastest growing financial institutions, is setting a new standard in responsible lending, one that blends cultural identity, innovation, and a people-first approach. Recognizing the daily demands of the modern workforce, Kundu Finance offers online loan applications that allow clients to apply from an...

For six decades, the PNG Institute of Banking & Business Management (IBBM) has stood at the forefront of professional development and business education in Papua New Guinea. From the institution’s humble beginnings to becoming the nation’s premiere leadership and training institution, IBBM has continuously evolved to meet the needs of PNG’s people,...