NCSL Savings and Loan Society Limited has delivered K9.8 million in 2024 interest to its members and eyes bold growth for the future. At its recent board meeting, NCSL announced a profit of K5.5 million for 2024 financial year, resulting in a total of K9.8 million paid in interest to its more than 150,000 members. The Savings and Loan Society said that the K9.8 million comprises of K4.3 million in bonus interest was credited directly to members savings accounts on Monday 5th May 2025, on top of K5.5 million already paid through interim interest. “The 2024 profit reflects NCSL’s resilience and dedication through a transformative year. Despite economic pressures and the complexity of our systems transformation, NCSL continued to focus on long-term value creation for members. In 2024, the NCSL team successfully navigated one of the most critical transformation programs in our society’s history. We acknowledge it wasn’t easy, and we are incredibly thankful for the ongoing loyalty of our members, employers, and staff. Because of your support, we are now, well-positioned for growth,” said NCSL Chairman Elphick. 2024 key financial highlights: Annual declared profit: K5. 5 million Annual savings interest: K9.8 million Interest Crediting date: Monday 05, May 2025 Applicable Accounts: All savings Accounts NSCL Chairman said during 2024 NCSL paid an interim interest of K5.5 million to members savings and after compulsory statutory reserve allocation of 20%. “NSCL will be paying an additional K4.3 million in interest to members. This is a total of K9.8 million in interest on savings to members. With our core banking transformation now substantially complete, NCSL is entering an exciting phase of digital and operational enhancement. In 2025, society will roll out a new suite of digital services and member engagement platforms aimed at making savings, lending and financial planning more accessible and efficient for all our valued members,” he added.

The introduction of a re-booking fee when a passenger who completes check-in, but fails to board their flight, is more equitable than the previous policy where the ticket was simply cancelled. Air Niugini Chief Executive Officer (CEO), Mr Gary Seddon, said aside from the cost to the airline for a passenger’s failure to board, of significant concern is the flight delay that causes disruptions to other travelers. “The re-booking fee is only a fraction of the actual cost to the airline, but when a passenger fails to board, they cause departure delays and connecting flights can be missed.” “When a passenger does not board, customer service staff first try to find them, then the next step is to locate their baggage in the aircraft cargo hold and have this removed.” “At busy international airports, the delay can result in a further wait time as the aircraft has to be given a new departure time slot.” “This all means that when a passenger fails to board after checking in, they can cause a delay anywhere between ten minutes to half an hour.” “We know that problems can arise that prevent a person boarding, such as medical or family issues, and our customer service staff are there to help. But if someone checks in and just changes their mind now, they will have to make a contribution to enabling the booking changes,” he said. Mr. Seddon said the re-booking fee is standard for many airlines around the world. “With the new policy, the missing passenger keeps their ticket and only pays the fee if they want to book on a later flight.” “The re-booking fee of K520 for international flights and K330 for domestic flights is reasonable compared to other airlines that charge up to 300 USD.” “But ultimately, we just ask that passengers plan well, and if circumstances change that they advise our staff so that arrangements can be made.”

The United Nations Development Program (UNDP) with its partners are currently hosting a training on Illicit Financial Flows and Investigative Journalism for Papua New Guinea Journalists at the Ela Beach Hotel in Port Moresby. The two days of training is led by UNDP Consultant for Ethical and Investigative Journalism Mrs. Tjasa Slokar. The overall goal of the Transparency and Accountability in Papua New Guinea Project, implemented by UNDP Papua New Guinea and funded by the European Union, is to contribute to improving transparency and accountability in the public sector in the national level in Papua New Guinea. This has been done through work with non-state actors such as Civil Society Organizations, including journalists in line with the United Nations Convention against Corruption (UNCAC) and National Anti-Corruption Plan of Action (2020-2025) Power of work. The training offers technical assistance to strengthen journalists' capacity to conduct financial investigations, leading to increased demand for integrity, transparency and accountability by various stakeholders at the national level and empower PNG journalists to conduct in depth media investigations. The workshop is co-organized by the UNDP through the EU-funded Transparency and Accountability in Papua New Guinea Project (TAP in PNG project) and the PNG Media Council. The training session is designed to provide expertise, knowledge tools, and practical skills to journalistic investigation of illegal financial transactions and uncovering corruption stories. PNG Media Council President Mr. Neville Choi encouraged the participating journalists to learn as much as they could and pick up more tips to improve their investigative skills.

Prime Minister James Marape officially welcomed the new Australian High Commissioner to Papua New Guinea, His Excellency Ewen Neil McDonald, during a courtesy call at the Office of the Prime Minister in Port Moresby. Prime Minister Marape expressed his appreciation to H.E. McDonald for the meeting and warmly welcomed him to Papua New Guinea, noting the significance of his appointment during a milestone year for the nation. On behalf of the Government and people of Papua New Guinea, PM Marape conveyed his congratulations to Prime Minister Anthony Albanese and the Australian Labor Party on their recent electoral victory. He highlighted the historic bond between both nations, acknowledging that the Australian Labor Government was the administration that granted independence to Papua New Guinea on 16th September 1975. “It is deeply symbolic that the Labor Government is once again leading Australia as we prepare to celebrate 50 years of independence,” PM Marape said. He reaffirmed that Papua New Guinea places great value on its relationship with Australia, describing it as “the most diverse and important” bilateral partnership. “As we look forward to marking 50 years of political self-determination, we also celebrate a significant chapter in the enduring relationship between our two nations,” he added. Mr. Marape acknowledged Australia as PNG’s largest development partner, providing an estimated AU$637.4 million in Official Development Assistance for 2024–2025. He noted that the PNG–Australia relationship has evolved into a deeper economic and strategic partnership, underpinned by trade and investment, security cooperation, and stronger people-to-people ties. “Our bilateral ties have broadened with the Comprehensive Strategic and Economic Partnership (CSEP) 2020–2030 and the signing of the Bilateral Security Agreement (BSA) in 2023,” he said.  In conclusion, PM Marape extended a formal invitation for Australia to join in the celebrations of Papua New Guinea’s 50th Independence Anniversary on 16th September 2025.

The Opposition leader Dougles Tomoriesa with two fellow Opposition members Kerenga Kua member for Sinasian-Yongamulg and Donald James member for North-Fly Open has highlighted a few issues that needs attention from the government. The first issue that the Opposition covered was the Local Level Government Election being delayed and why it is important to conduct a fair, just and safe election. Opposition Leader Dougles Tomoriesa stated that the LLG Election was delayed by a week or so, but they noted that it was done to cater for most of the candidates from remote locations to come into town for registration. Mr. Tomoriesa said the Electoral Commissioner Simon Sinai used his powers to delay the elections for a week for registration due to the difficulties that the candidates (Councilors) were having to come into town to register and nominate. “I was very thankful when I heard that the election was delay because the intending ward councilors at my district had to get on a boat to come into Alotau town just to register so the deferral was essential to cater for those that were facing difficulties. I noticed this when I was back home in  Alotau when I saw intending candidates coming into town to pay their nomination fees to the bank and so we all know that right throughout the country, that the council elections are in-progressed, nominations will be completed this Thursday and after that we will have the elections for our presidents and ward councilors,” Mr. Tomoriesa said. He added that he's aware that the campaign period will take about 10weeks and that is a lot of time. “I personally believe that, with the Ward councilors election, they should have it in less than a month and maybe the president election should be 6 weeks, because a lot of the ward councilors and presidents are well known in the communities. I am now calling for all those that have been nominated and especially the voters that when you go out there to vote for your councilors and presidents, it is important for you voters to vote leaders that represented well in your wards and the district. It is your determination to vote for good leaders in the wards, who can assist members of Parliament when it comes to calling for our DDA meetings and the development of our districts and wards” he said.

The Nation’s Capital Port Moresby city is moving closer to becoming the gateway to Asia and the Pacific with the launch of China Southern Airlines new route connecting Guangzhou, Port Moresby and Port Vila. National Capital District Governor Powes Parkop has welcomed the Marape-Rosso Government’s support for the launch of China Southern Airlines’ new route connecting Guangzhou, Port Moresby, and Port Vila. The inaugural flight on the 29th of April 2025 marks a major milestone in positioning Port Moresby as a key regional transit hub linking Asia and the Pacific. “This is a proud and strategic moment for Port Moresby. It fully aligns with our vision to make Port Moresby a tourist hub and gateway. It also reflects our capital’s growing role in fostering regional connectivity and opens new doors for trade, and investment apart from tourism,” Governor Parkop said. He said the flight follows years of negotiations initiated in 2019 between PNG and Vanuatu. “A delegation from Vanuatu, including former Prime Minister and current Leader of Government Business Charlot Salwai, visited Port Moresby to celebrate the launch and met with Prime Minister James Marape and his officials last week,” he added. Governor Parkop commended Prime Minister Marape’s leadership and commitment to formalizing Fifth Freedom Rights, which will enable smooth transit for passengers between PNG and Vanuatu. He said these discussions are now progressing with both governments and China Southern Airlines. Governor Parkop also highlighted the importance of the Framework Agreement on Economic and Technical Cooperation signed in 2024, which reinforces collaboration between PNG and Vanuatu across multiple sectors. “It also follows the signing last year of the sister city agreement between Port Moresby and Port Vila. This airline route strengthens our historical ties and economic partnerships and enhances the sister city relationship between Port Moresby and Port Vila. Port Moresby is rising to meet its potential as the true gateway to Asia and the Pacific,” Governor Parkop said. Governor Parkop also announced that he has already commenced discussions between China Eastern Airlines to also fly to PNG either from Nanjing or Shanghai. He hopes that this connection can be confirmed soon so it can provide more opportunities between PNG and the Pacific and China especially the mega cities of Shanghai, Nanjing and other cities in the East of China.

Preparations are underway for the launch of the Papua New Guinea (PNG)- Indonesia Business Council Inc, says the Minister for International Trade and Investment Richard Maru. The PNG- Indonesia Business Council will be launched by the Prime Minister James Marape on Wednesday, May 7, at the National Parliament’s State Function Room in Port Moresby. “PNG and Indonesia are close neighbors connected by land border but have not developed the trade and investment relationship between the two countries through any structured formal relationships." "We are so close, yet so far away in terms of trade and investment. For the last 49 years, our focus has been on border and security talks annually. It is time PNG develops a strong, deep, and robust relationship with Indonesia in realizing the potential of both countries in trade and investment," said Minister Maru. He said the launching of PNG- Indonesia Business Council is the start of the shift in focus to the commercial dimension of our relationship with Indonesia. "Their main job is to liaise with the Indonesian private sector to drive the agenda of trade and investment between our two countries. We need major foreign direct investments from Indonesia as a matter of priority.” He added that Indonesia is currently the world’s fourth most populous nation, the largest economy in Southeast Asia, and the seventh largest in terms of purchasing power parity. "Indonesia is a global player in mining, including the extraction of oil and natural gas being a key contributor to Indonesia’s GDP. Indonesia has ranked among the world’s third largest coal and nickel producers. Downstream processing has been relatively successful- thousands of jobs have been created, higher-value skills have been transferred, and advanced technological and economic processes have been brought to Indonesia." “We do not have a major Indonesian investor in PNG when they are world leaders in many sectors today. They have a huge market and have many companies who can invest in PNG, but we have never leveraged the closeness of our relationship by learning from their success and bringing their companies to invest in PNG." He stressed that PNG has immense potential with abundant natural resources in mining, petroleum, agriculture, fisheries, forestry and services for downstream processing value addition respectively. There is no better place to learn from than Indonesia which has already mastered this approach. Minister Maru then thanked the friendship of the former and current Prime Minister and the former and current President of Indonesia. "They have really set the basis for us to now take our relationship to the next level. It has taken use 50 years to reach a point where we are now able to have a PNG- Indonesia Business Council and we also now have a Ministerial Committee led by the Deputy Prime Minister John Rosso; we are now ready to step up in our relationship." "We are hoping to secure the first K1.5 billion Indonesian investment in our country in the coming weeks,” added Minister Maru.

After 50 years of being rent collectors of our fisheries resources, Papua New Guinea (PNG) will finally have its own cannery which will be constructed starting this year, says the Minister for International Trade and Investment Richard Maru. “This new cannery will be developed under a new joint venture (JV) company which will be 50% owned by the State and 50% by RD, with initial expertise to be provided by RD to help us transition from being a rent collector to being an owner of initially a cannery and later a fishing company,” said Minister Maru. Out of its 50% equity in the JV, the Kumul Consolidated Holdings Limited (KCHL) will reallocate 5% equity to Madang provincial government and 2.5% equity each to the Madang DDA and Sumkar DDA. The Chairman of RD Group, Mr. Roy Rivera, and his management team have arrived from their Headquarters in the Philippines for the signing of the Memorandum of Understanding (MOU) between RD, the State and KCHL for the development of a state-of-the-art cannery with processing capacity of 300-metric tons per day in Madang. Minister Maru said this will be the first time that PNG will own a cannery and it is estimated that the construction of the cannery itself will cost K160 million. “This will be jointly funded by RD and the KCHL who will hold the shares on behalf of the State. Each party will provide K80 million each. The new cannery will be owned and operated by a new fishing company which will be called “Kumul Fisheries Limited” under a joint venture between RD and the KCHL. Kumul Fisheries Limited will have its own brand and will market its products globally under the new brand. The Board of this new company will have members from both PNG and RD. The management will initially be from RD, but over the next five years, all the positions will be localized. It is planned that after the signing of the MOU on Friday next week and the endorsement of the design of the new cannery, a new Shareholder Agreement will be signed between the State and RD for the construction to start immediately,” Minister Maru said. He added that the tender documents for the construction of the new cannery will be ready after the signing of the MOU. “The construction will take up to 18 months. About 500 people will be employed during the construction phase and over 5,000 will be employed once the cannery is completed and is in operation. The immediate task of the new cannery is to assist the country to replace all canned fish imports by producing enough canned fish in our cannery to supply the local market. Although PNG catches between 600-700 metric tons of fish every year, 80% leaves the country to be processed offshore because we do not have processing facilities. As a result, PNG is still importing canned fish from all over the world. It is ridiculous that we export 35,000 tons of canned tuna and import 40,000 tons, and we are losing up to 100,000 jobs and over K4 billion in revenue by not processing all our fish in PNG. We are waiting for the National Fisheries Authority (NFA) to come up with the new Domestication Policy so over the next five years we will process 100% of our catch in PNG The building of this new cannery in Madang is the start of a deliberate attempt by our government to invest in downstream processing so we can replace all canned fish imports from other countries. This cannery is the anchor investment needed for the proposed Madang Integrated Special Economic Zone (SEZ). This is a very exciting development, and we all look forward to the signing of the MOU next Friday,” added Minister Maru. Chairman Rivera said he is emotional and excited for this project. “My Late father built the first cannery in Madang 29 years ago, and as his son who succeeded him as the Chairman of the RD Group, I now have the privilege to build the second cannery, but this time in partnership with the PNG Government,” he said. Governor for Madang Ramsey Pariwa, had also been very supportive and excited about this project. “We, the people of Madang, have waited so long for the PMIZ project to eventuate. It is finally happening after 15 years of wait. I want to thank RD Group for willing to partner in this new cannery venture in Madang,” Governor Pariwa said. Meanwhile, the Department of International Trade and Investment will be putting out a notice next week for Expression of Interest from the private sector to build a new international wharf and also power and water supply, and sewerage in the proposed Madang Integrated SEZ under a Build-Own-Operate-Transfer model.

Kumul Consolidated Holdings (KCH) Limited has announced the presentation of new crane trucks to PNG Power Limited (PPL). This marked another milestone in efforts to strengthen national Infrastructure and frontline service delivery in the energy sector. KCH stated that the acquisition of the three crane trucks-procured at a total cost of K1.9 million from Ela Motors was made possible through the PPL Recovery Funding of K111million provided by the Marape-Rosso Government. “Two of the trucks have now been delivered, with the third currently in transit. The three units will be deployed to Port Moresby, Lae, and Kokopo, respectively, enabling direct support to maintenance operations across this country’s three main power grids. These crane trucks will significantly improve PNG Power’s ability to respond to infrastructure issues and reduce system downtime across our three main grids,” said Professor David Kavanamur KCH Managing director. Professor Kavanamur said they are grateful to the Marape-Rosso Government for the K111 million recovery funding, which has enabled these important procurements are highlights the government’s clear commitment to revitalizing our Stata-owned-utilities. “The trucks will enable timely attendance to faults, support the efficient execution of routine maintenance, and reduce the corporation’s reliance on hired equipment. PNG Power currently incurs an estimated K5.2 million annually in crane truck hire costs. Saving that now can be redirected to other critical operational needs,” he said. PNG Power CEO Kingston Albert expressed his appreciation and said that these trucks will greatly enhance their ground operations and give their technical teams the tools they need to improve service reliability. We are committed to putting resources to immediate and effective use,” Mr. Albert said.

Transparency International Papua New Guinea (TIPNG) urges the Prime Minister to take real action against corruption and to drive forward the reforms that are required to strengthen governance and accountability in Papua New Guinea. “The time for talk is over. Papua New Guinea’s poor ranking in the Corruption Perceptions Index (CPI) should be a major worry for the PM as it reflects a widespread level of corruption in the public sector and taking serious action to address this should be his immediate priority,” said TIPNG Chair, Mr. Peter Aitsi. TIPNG calls on the PM for the following actions: Sack Non-Performers: The Prime Minister must sack people who are not-performing, this includes Ministers, Department Secretaries, Commissioners, and CEOs. It is time to send a clear message that incompetence, negligence and non-performance will no longer be tolerated. Seek out persons who are capable, experienced and qualified and recruit them under a merit-based system with a focus on individuals who have demonstrated high degrees of integrity in their past roles. Press forward with the Electoral Reforms: Be the Champion for the Parliamentary Committee Report Chaired by ESP Governor Allan Bird on Election Reform. Lead the presentation of report to Parliament and focus parliament on agreeing and prioritizing the changes needed in order to safeguard the integrity of the 2027 National Elections, in the short remaining time. Given that PNG is now 18 months away from the 2027 National Elections, TIPNG calls for a specific focus on the 3 key areas: (a) Restore Governance in the Electoral Commission: Appointment of additional commissioners, at least 3, who are qualified, experienced and independent of politics. (b) Commit to transparency: Publish the current Common Roll online and establish a process for citizens to check and if required re-register themselves. (c) Early and consistent release of funding for the PNG Electoral Commission to support their operations and preparation. If required, appoint an external accounting firm to manage on behalf of the Electoral Commission. Full Implementation of Financial Action Task Force (FATF) Recommendations: The government needs to take immediate action to implement the Financial Action Task Force (FAFT) recommendations. This is crucial for Papua New Guinea to come out of the grey listing. Enhance public accountability through the enactment of a Right to Information Law and the establishment of robust oversight mechanisms. Strengthening Integrity Institutions: The government must strengthen and fully resource integrity institutions, including giving full authority and mandate to the National Anticorruption Agencies. Furthermore, the National Anti-Corruption Strategy Task Force must convene regularly to ensure progress on critical anti-corruption initiatives. “Addressing corruption is fundamental if we are to see continued economic growth and attract foreign direct investment. We acknowledge the Prime Minister’s focus on transforming key sectors such as agriculture, tourism, and fisheries, but these efforts will be wasted if we fail to acknowledge that corruption is the impediment to realizing the full potential of these sectors,” added the TIPNG Chair. Mr. Aitsi said TIPNG stands ready to work collaboratively with the government and all stakeholders to advance these critical reforms. The time for action is now.

BSP Financial Group Limited has increased its unsecured Personal loan limit to K110,000 from the previous K50,000 limit. “This increase from the previous K50, 000 limit, gives customers more financial power to turn your plans into reality, whether it’s a dream wedding, a much-needed holiday, school fees, or emergency expenses,” BSP said BSP Group GM Retail - Ronesh Dayal, said this change is part of BSP’s focus on making banking more supportive and accessible for Papua New Guineans. “We have made it easier for more people to apply and get approved quickly. With higher loan limits, better flexibility, and fewer requirements, we are here to help you achieve life’s big moments,” he said. Here’s What’s New: Loan limit doubled to K110,000 No employment confirmation letter needed for existing BSP customers External loan refinancing now allowed New BSP customers can apply with just one salary credit as proof “With competitive rates and a quick, simple process, it’s never been easier to get the funds you need. Apply now at your nearest BSP branch or visit our website www.bsp.com.pg to learn more,” BSP said.

Kina Bank has announced the appointment of Mr. Mackhenly Kaiok as Chief of Staff. Kina Bank said Mr. Kaiok brings over 20 years of experience in communications, public relations, and stakeholder engagement across the media, resources, and banking industries. “With more than 18 years in the resource sector, Mr. Kaiok will be instrumental in driving the development and embedding of Kina Bank's Environmental, Social, and Governance (ESG) strategy as well as enhance stakeholder engagement, align communications with the bank's strategic objectives, and oversee the day-to-day operations of the CEO's office. In his previous role as Head of Communications at Kina Bank, Mr. Kaiok led communication initiatives that supported various internal functions across the business, enabling them to deliver on their plans and projects. He has also held key managerial roles at Ok Tedi Mining Ltd, Ok Tedi Development Foundation, and the PNG Chamber of Resources and Energy, where he was responsible for establishing and leading high-performing communications and stakeholder relations functions. Mr. Kaiok holds multiple qualifications, including a graduate certificate in Corporate Public Affairs and Business Studies from the Melbourne Business School and the University of Tasmania respectively, and a Diploma in Communications Arts, a Bachelor of Management, and is currently pursuing an MBA from the Divine Word University,” Kina bank said. The bank added that Mr. Kaiok’s leadership and strategic insight make him a valuable addition to their leadership team. "We are confident that Mr. Kaiok’s expertise and vision will significantly contribute to Kina Bank's continued growth and success. We are thrilled to welcome Mackhenly as our new Chief of Staff. His extensive experience and proven track record in communications and stakeholder engagement will be invaluable as we continue to drive our ESG strategy and align our communications with our strategic objectives. Mack's leadership and strategic insight will undoubtedly strengthen our team and support our ongoing growth and success,” Ivan Vidovich, CEO of Kina Bank, stated. He further added that Kina Bank is committed to developing local Papua New Guinea talent and nurturing the next generation of leaders within the organization. “By investing in our people and providing opportunities for professional growth, we aim to build a strong, capable workforce that will drive the future success of Kina Bank and contribute to the broader development of the nation,” he added.