In a region where digital transformation is both a challenge and an opportunity, global payments leader Visa is actively working to bridge the financial gap through inclusive innovation. In the recent Innovation PNG Conference 2025 in Port Moresby, Visa Country Manager for New Zealand and the Pacific Islands Anthony Watson revealed an ambitious 2030 vi...

The Bank of Papua New Guinea (BPNG) has announced its new executive structure as part of its commitment to becoming a modern, digital, and trusted central bank under its recently developed “Vision 2050” strategy. The announcement follows a detailed and extensive strategy development process over the past two years. Since its establishment in 1973, the ...

Papua New Guinea and the Pacific Island countries and territories are on the frontline of climate and biodiversity loss impacts. “Your voices are decisive to push for higher climate ambition, adaptation solutions and also financial promises,” said Virginie Bleitrach, AFD’s Regional Director Pacific Ocean, during the inaugural Green Finance Summit 2025 ...

The Centre for Excellence in Financial Inclusion (CEFI) and the Western Pacific University (WPU) have signed a landmark Memorandum of Understanding (MoU) to jointly promote entrepreneurship, fintech, financial literacy, and microfinance education in Papua New Guinea (PNG). The MoU between CEFI and WPU signifies a collaborative effort to advance educati...

The new National Banking Corporation (NBC) is planning to publicly list its stocks for public purchase as early as next year 2026, with Prime Minister Hon. James Marape calling on Papua New Guineans to prepare themselves in anticipation of this event. Prime Minister Marape, while launching the new commercial bank on Thursday (10.04.25) evening, urged P...

On Thursday, April 10, 2025, Prime Minister Hon. James Marape officially launched Papua New Guinea's newest commercial bank, the National Banking Corporation (NBC), bringing the total number of commercial banks in the country to seven NBC is the transition from the former People’s Micro Finance Bank, and is a subsidiary of the National Development Bank...

The newly formed Monetary Policy Committee (MPC) of Papua New Guinea has kept the Kina Facility Rate (KFR) unchanged at 4.0%, while lowering the Cash Reserve Requirement (CRR) to 11%, in its inaugural meeting held on March 11. The decisions were announced in a media release issued by Bank of Papua New Guinea (BPNG) Governor Elizabeth Genia, who chairs ...

The Green Finance Summit 2025 marked a strong set of commitments and partnerships, reinforcing the country’s green finance agenda and accelerating its position as a leader in sustainable finance across the Pacific region. This summit was hosted by the Green Finance Centre (GFC), under the auspicious of the Central Bank of Papua New Guinea (BPNG), broug...

Papua New Guinea’s PNGX Group Limited (“PNGX Group”) and Fiji’s South Pacific Stock Exchange Pte Limited (“SPX”) have together released a Request For Proposal (“RFP”) for an integrated Trading Platform and Central Securities Depository solution for the Pacific stock exchanges. The release of the RFP follows PNGX and SPX entering into a Memorandum of Un...

Westpac is proud to reaffirm its position as a pioneer in financial services across the Pacific by continuing its long-standing partnership with Verifone, a global leader in payment technology. This partnership, established in 2016, underscores Westpac's commitment to delivering innovative and efficient payment solutions to businesses in Papua New Guinea....

Prime Minister James Marape has announced a bold tax reform strategy aimed at fostering investment, increasing consumer spending, and driving local industry growth. The reforms will take effect once Papua New Guinea’s economy reaches a K150 billion milestone, a target expected to be achieved within the next three to four years. He announced this at the Ba...

Westpac continues to deliver on its commitment to empower communities with essential financial knowledge by kicking off its 2025 series of Financial Basics for My Business online webinars. The first session included business owners and representatives from various organizations both in Port Moresby and outside centres, who all successfully completed the p...

Fiji’s South Pacific Stock Exchange Pte Limited (“SPX”) and Papua New Guinea’s PNGX Group Limited (“PNGX Group”) have reaffirmed the commitment to fostering innovation and enhancing sustainability in the capital markets of Fiji, Papua New Guinea and the wider South Pacific region by entering into a Memorandum of Understanding to explore technology sharing...

PNGX recently released the 2024 performance data for the Papua New Guinean market. 2024 represented a year of remarkable growth on the market. The financial services sector emerged as a strong performer, delivering robust returns for investors and setting a high benchmark for the market. Key highlights among PNG companies included: Kina Asset Man...

The Internal Revenue Commission (IRC) of Papua New Guinea (PNG) has announced a number of tax relief measures introduced in the 2025 Budget by the Marape-Rosso Government. These reforms are aimed at addressing the rising cost of living, supporting small businesses, and promoting home ownership across the nation, the IRC said in a statement. Key Reli...

Papua New Guinea (PNG) faces significant challenges in addressing money laundering (ML) and asset recovery. According to the Financial Action Task Force (FATF) Mutual Evaluation Report (MER) published in November 2024, the country lacks skilled personnel, institutional resources, and prioritization to tackle these issues effectively. Consequently, P...