After opening its second flagship branch in Wewak town in East Sepik province just a month ago, TISA Bank has opened its third flagship branch in the big city of Kokopo in East New Britain Province. This latest TISA Bank branch opening reinforces its commitment to expanding banking access for the underbanked and unbanked communities across Papua New Guinea (PNG). The launch ceremony was officiated by the Governor of East New Britain Province, Hon. Michael Marum, and witnessed by Open Member (MP) for Kokopo, Ereman ToBaining Jr., and business community representation by Dame Sandra Lau, owner of Tropicana Ltd. Governor Marum welcomed TISA Bank to the province, highlighting the importance of accessible banking services for local development. “Your presence reflects a strong belief in our people and our province’s economic development,” said Governor Marum. “This new branch means more than just convenience—it is a necessity for development. It means more empowerment for our everyday people.” The MP emphasized the broader regional impact of the new branch. “This branch will provide financial inclusion opportunities not only for my people in Kokopo, but also for those from New Ireland Province and the Autonomous Region of Bougainville who travel here to do business,” he said. TISA Bank Chief Executive Officer, Mr. Sunil Pokharel, shared the bank’s vision for inclusive growth and community empowerment. “We believe that access to quality financial services should not be a privilege—it should be a right, especially in a region full of promise,” said Mr. Pokharel. “This branch will offer a full suite of modern retail, SME, and banking solutions, guided by our principle of Banking on Change.” He added that TISA Bank is committed to delivering banking that is inclusive, responsive, and people focused. “We are here to support the entrepreneurial spirit of East New Britain and to provide the best service possible for our people.” He further thanked the corporate and large business support in the province, acknowledging Dame Sandra Lau for her presence during the launch. TISA Bank is committed to creating long-term partnerships and is well-positioned to support businesses in East New Britain Province, from SMEs to large corporations. “It is our hope to partner with local businesses in the province to build the next chapter of corporate growth not only in the province but in Papua New Guinea.” Mr. Pokharel added. The Kokopo branch marks another milestone in TISA Bank’s journey to create inclusive financial opportunities and drive sustainable development across Papua New Guinea.

It is just over a month to go before Papua New Guinea marks its 50th Anniversary of Independence, so it is only fitting that a statue of the man who gained the country's independence stands tall at Waigani, Port Moresby city. Last evening saw the unveiling of the live size bronze statue of Grand Chief Sir Michael Somare unveiled at the National Parliament House witnessed by the family of the Grand Chief, including his wife Lady Veronica Somare, the prime minister, State Ministers and Members of Parliament and foreign dignitaries invited for the significant occasion. Prime Minister James Marape in his speech said Sir Michael was more than a leader, he was the bridge between time and tradition, a state’s man whose intellect was deeply rooted in the wisdom of the ancestors and whose politics was shaped by great compassion. He said Somare united people of thousand tribes with so many languages into a single national identity known as Papua New Guinea, a country that is independent. Speaking prior to the PM was Mr. Arthur Somare, the son of the Grand Chief who used the occasion to call for good leadership to prevail in the country as PNG marks 50 years of independence. Reflecting on his father’s legacy, he said leadership must always be about the people. He said leadership is not about power, not about status, it is about all else. Service must be rooted in humility, integrity and faith in fairness and justice. “That is the legacy we are called to live up to,” said Arthur. “As we stand before this statue, we must also ask ourselves, what do we do with the legacy we inherit?” “For far too long the promise of independence, the promise of prosperity, dignity and justice for all have remained unevenly distributed. Progress has come but it has come at a cost.” “We must now ask ourselves, where now from here?” “The answer lies in our collective resolve to walk together, to work together and build together,” he said. Meanwhile, the building of the bronze statue was commissioned by parliament and was designed and built in Bali Indonesia. Following its completion, it was transported to PNG and on the evening of Thursday 7th August, which also coincided with the 41st Anniversary of the National Parliament House, was unveiled in front of the steps to the parliament’s door.

Since its opening over forty (40) years ago, the National Parliament has served as the house of the people, serving the interest of the people and upholding the democratic process of government. This was the statement made by the Speaker of Parliament, Job Pomat today to commemorate the 41st Anniversary of the National Parliament, which was celebrated at the Parliament premises in Port Moresby city. Pomat described the Parliament as a powerful symbol of Papua New Guinea’s democracy, identity and national unity. These year's theme of celebration is " One People, One Nation, One Country". Reflecting on this year’s theme, Pomat said it is a timely and meaningful reminder that despite the many different cultures, language and regions, Papua New Guinea remains united under one Constitution, one flag and one parliament. “Our Parliament House was opened on the 7th August 1984 by His Royal Highness the Prince of Wales, now His Majesty King Charles III,” said Speaker Pomat. “It was built not only as a place for decision making, but a house of all the people of Papua New Guinea.” “It stands at the heart of our nation, a place for our leaders elected by the people come together to debate, legislate, and shape the future of this great country.” “For over four decades the National Parliament House has been more than just a seat of government, it has been a stage up on which our democracy has grown. It has witnessed the peaceful transitions of government, the passing of laws that define our progress, the approval of national budgets and most importantly, the voicing of our people’s hopes and concerns.” Pomat concluded by extending his gratitude to the Parliamentary Services for the continued care of this national treasure, so that the future generations may continue to appreciate it.

The Kavieng Stadium in Kavieng town, New Ireland province has been renamed to Sir Julius Chan Stadium as a mark of honor for the Late political icon, the last of the founding fathers of Papua New Guinea who passed away early this year. New Ireland Governor Walter Schnaubelt announced this during the New Ireland Day celebrations held at this Stadium on Saturday, 02nd August, 2025. “It is fitting and proper to announce that the Kavieng Sports Stadium will now be named in honor and legacy of our late Governor Sir Julius Chan,” he said. Late Sir Julius, Papua New Guinea's most seasoned politician built this amazing facility that has set a high benchmark for development in New Ireland for years to come. The Kavieng Stadium took just over a year to build by the China Railway Construction Company, the same company that built another iconic structure in the New Ireland Legislative Assembly. The renaming of the stadium was one of the highlights of the New Ireland Day celebrations bringing together traditional and cultural performances from the two districts (Kavieng and Namatanai) in the province.

The Kumul Petroleum Holdings Limited (KPHL) has been given the thumbs up to go ahead with the construction of the Central Province Industrial Park (CCIP) at Caution Bay after receiving a Provisional Development License from the Special Economic Zone Authority (SEZA) Board. The Provisional Developer License that was presented to Kumul Petroleum on Monday 4th August in Port Moresby city, is just for twelve (12) months (1 Year). The CPIP project is a cornerstone of the government’s economic diversification agenda and is expected to stimulate job creation, industrial processing, and regional development in Central Province. However, the Board, in the interest of financial prudence and legal compliance, resolved that the tax or non-tax incentives under the SEZ incentive framework are deferred pending the provision and assessment of the following by the SEZA Board. They are, Audited financial accounts for the past three years (2021–2023), A certified management account for 2024, Present a detailed, KPHL board-approved funding plan specific to Stage 1 of CPIP, The issuance of a letter of financial commitment confirming readiness to finance project implementation, and Clarify the role and any agreements with Caution Bay Development Limited (CBDL). The Board emphasized that incentives will not apply retrospectively. Only costs and activities undertaken after full compliance will be eligible for exemption or relief. At the same time, the Board acknowledges the undertaking of the KPHL through its Managing Director, Mr. Wapu Sonk, of the completed audited financial statements that are to be tabled with the trustee shareholder, the Prime Minister, James Marape, on the 3rd quarter of 2025, before they are forwarded to SEZA. The SEZA Board looks forward to receiving these in order to fast-tract the approval of the incentives and reliefs. Meanwhile, Dr. Lawrence Sause, Chairman of SEZA, stated: “We welcome this milestone for the Central Province Industrial Park and commend KPHL for taking the lead. At the same time, the Board has a legal duty to ensure transparency and fiscal discipline. We will only grant incentives when minimum financial disclosures and compliance standards are satisfied. This is how we build investor confidence and public trust.” For the next steps to be taken, KPHL will be formally notified of the license terms and has a 12-month window to comply. The Licensing Committee will reassess the application once all conditions are met, which may lead to: Conversion to a Full Developer License, or Activation of incentives under the current Provisional License. This approach supports investor engagement while maintaining the integrity of the SEZ program.

New Zealand (NZ) Prime Minister Christopher Luxon start his day in his official three- day visit to Papua New Guinea (PNG) paying a courtesy visit to the Governor General of PNG Grand Chief Sir Bob Dadae. The Governor General received Prime Minister Luxon at the Government House in Port Moresby city at 9AM where he acknowledged the close and historical relations both PNG and New Zealand share and in particular, New Zealand’s direct funding assistance and volunteer service in rural communities in PNG. Prime Minister Luxon said, “New Zealand is proud of its close relations with PNG that reaches back to the arrival of the Maori missionaries in the 1800s, participation of New Zealand soldiers in WWII in parts of PNG and New Zealand’s participation as one of eight countries invited to celebrate PNG’s Independence Day in 1975.” Luxon added that New Zealand is also pleased to provide development and trade assistance as well as defence and security support to PNG which it has been doing for many years. The meeting concluded with exchange of gifts between the Governor General and the New Zealand Prime Minister before departing for his next engagement at the National Parliament to address the House.

The Central Lime and Cement project will greatly support and improve the living standards of the people of Kido and also ReaRea in the Central province thanks to the agreement made between the landowners and the developer, Pacific Lime and Cement. Mr. Paul Mulder, the Managing Director of Pacific Lime and Cement (PLC) held a press conference on Monday 4th August in Port Moresby city following the official launching of the project and the announcement of its Final Investment Decision (FID) last week Friday. The press conference was to give further details to the Central Lime and Cement project, where he also revealed the background to agreements with the landowners and what is in store for them in terms of spinoff benefit. Mr. Mulder said the agreement is unique in that the company and the landowners work in a joint venture partnership structure in establishing the companies for the landowners with funding and training of the work force provided by PLC, to support the operation of the major Lime and Cement project. The sort of services that the landowner companies will be providing are both assets based, and services based. Assets include equipment, vehicles and earth moving equipment while services include things like security, catering and logistics. Mr. Mulder said the local benefits and business spinoffs are captured under the Community Development Agreement, which resulted from a consultative forum that was held with the landowners. “As part of that, there were commitments made and approved through the department of labor, department of commerce and industry in relation to these local benefits and spinoffs.” He said with that in place, there is no reason why anyone will be without a job because the lime and cement operation, is a labor-intensive work that requires a lot of skilled manpower. It's not only the spinoff benefits the landowners will be enjoying, but also the establishment of infrastructures like a road and bridge connecting the island to mainland Central province. “The first port of call for us is constructing the road, connect the people and make sure that people have connectivity. Getting those key utility services in to improve living standards, is the first priority.” Mr. Mulder expressed that Kido is close to the PNG LNG Plant site in Central province but yet so far, highlighting its non- connection to the mainland. But now with the focus on infrastructures thanks to the Central Lime and Cement project, this should be a think of the past for the people of Kido.

The Constitutional and Law Reform Commission (CLRC) just recently launched two key issues paper for the review of laws on Sexual Offences and State- Owned Enterprises (SOEs) under its latest Terms of Reference (TORs) in an effort to further tighten them in order to be more effective. These two TORs are: TOR 22: Review of Laws Relating to Sexual Offences (Incest) in Papua New Guinea TOR 25: Review of Laws on State-Owned Enterprises (SOEs): Meeting Objectives and Accountability to the State. CLRC Chairman MP Saki Soloma highlighted the importance of both reviews, emphasizing the urgency and necessity of addressing issues that have significant social and economic impacts. “Both TOR 22 and 25 are central to the protection of families and the effective functioning of state institutions. These reviews are critical to advancing justice, equity and national development,” said Chairman Soloma. TOR 22 addresses one of the most severe forms of sexual violence, particularly affecting women and children. CLRC Internal research and judicial observations show a disturbing rise in cases of incest, prompting concerns over the adequacy of the legal framework. According to the Chairman, the key Issues under TOR 22 include reinstating life imprisonment for incest offenders; expanding the definition of incest to include step and adopted family members; addressing issues of consent and compensation in cases of incest; and the introduction of mandatory sex education in schools and regulation of sexually explicit content in media. The Chairman stressed the sensitivity of the issue, acknowledging the cultural and societal complexities around incest in Papua New Guinea. TOR 25 is the review of SOEs and focuses on enhancing their effectiveness, accountability and their ability to meet public needs, especially in underserved rural areas. SOEs are critical for providing essential services such as electricity, water and transport. They key areas of focus include the legal framework’s ability to empower SOEs to succeed; oversight effectiveness by Kumul Consolidated Holdings (KCH) and whether SOEs should fall under additional oversight bodies; balancing commercial independence with state accountability; and the impact of political influence in KCH and SOEs. The Chairman noted that the review is timely, with calls from Prime Minister James Marape for urgent reforms to make SOEs more efficient, transparent, and professionally managed. Meanwhile, the CLRC invites all Papua New Guineans to engage in the consultation process following the launch of the Issues Papers. Public consultations will be held across provinces and the Commission will also be accepting submissions from the citizens regarding the two TORs. These contributions will directly shape the final recommendations that CLRC will develop. Public consultations for TOR 22 and 25 are currently underway.

The Prime Minister (PM) of New Zealand Christopher Luxon is arriving this evening in Port Moresby city to commence his official three (3) day official visit to Papua New Guinea (PNG). Prime Minister James Marape confirms that PM Luxon, Prime will start his official visit today, Monday, 4th August and wrapping it up on Wednesday 6th August. Marape said this visit heralds a major season of diplomatic engagement as PNG gears up to commemorate its 50th Independence Anniversary. Prime Minister Marape hailed the visit as a defining moment in bilateral relations, underscoring New Zealand’s long-standing support for Papua New Guinea’s development, security, and regional stability. “New Zealand has stood with Papua New Guinea since we gained independence,” Prime Minister Marape said. “From education and climate resilience to trade and governance, their steadfast support has been foundational.” Prime Minister Luxon is expected to arrive at 6PM at the APEC Terminal where his will be received by a Ceremonial Guard of Honor Parade and a nineteen (19) Gun Salute. Visit Programme: High-Level Ceremonies & Parliamentary Address is as follows, • Monday, 4 August (evening): State Dinner honoring Prime Minister Luxon hosted by the Government of PNG. • Tuesday, 5 August (morning): Address to the National Parliament of PNG, followed by bilateral discussions on trade, climate resilience, labour mobility, and infrastructure development. • Wednesday, 6 August: Farewell ceremony for Prime Minister Luxon prior to his departure from Port Moresby. “This visit is more than ceremonial—it will fortify people-to-people links, government partnerships, and economic collaboration,” Prime Minister Marape said.

The BSP Financial Group Limited (BSP) was given a prestigious recognition for its Wantok Wallet financial service for bridging the financial inclusion gap in the country. BSP accepted the 2025 Service Member Recognition Award from the PNG Chamber of Resources & Energy (PNGCORE) on Thursday 31st July in Port Moresby city at the conclusion of the three-week PNGCORE Resource Week program. Launched in February 2025, Wantok Wallet enables secure, card- less transactions via mobile phones — without requiring a bank account, internet access, or even a smartphone. This innovation has empowered thousands of workers and families in resource-rich regions to manage their finances with greater ease and security. Penelope Aisi, BSP Program Manager with Retail’s Customer Value Management Team received the award, thanking PNGCORE for recognizing their commitment to partnership, economic development, and community empowerment. “BSP has proudly served Papua New Guinea for over 68 years, growing to become one of the region’s most trusted financial institutions with operations across seven Pacific markets. The bank’s enduring purpose — to champion progress and prosperity — is exemplified in the Wantok Wallet initiative,” Ms. Aisi added. Since its launch, over 74,000 Wantok Wallets have been opened, a testament to the service’s vital role in providing safe, accessible digital financial services to underserved populations, particularly those without formal identification in rural and remote areas. The Wantok Wallet also recently received the Innovation PNG 2025 Awards, with Penelope Aisi and her team recognized for their leadership in delivering this inclusive financial solution. As a dedicated service member of PNGCORE, BSP reaffirms its commitment to supporting sustainable development and enabling all Papua New Guineans to participate fully in the nation’s growing digital economy. “We thank PNGCORE for this meaningful recognition and look forward to continuing our work alongside all sectors to build a stronger, more inclusive future for our people,” Ms. Aisi concluded.

Pacific Lime and Cement (PLC) officially launched the Central Lime & Cement project operations on Kido Island in Central province on Friday 1st August, much to the appreciation of the local villagers, the Provincial Government and the National Government. Pacific Lime and Cement, formerly Mayur Resources, focuses on the development of natural resources and renewable energy in Papua New Guinea (PNG). The company is committed to delivering its diversified asset portfolio, which spans lime, cement, nature-based forest carbon credits, iron and industrial sands, contributing to nation building and job creation. Opening formalities at the opening ceremony on Kido was PLC Managing Director Mr. Paul Mulder, who described the occasion as monumental as it took ten (10) years for the landowners, the Provincial and National Governments and PLC to get to this final stage, and thanked all parties involved. “This is the first day that we turn around and we say we are no longer just taking the resources out of the ground and sending them offshore to somebody else. It’s the day we say that we’re going to downstream process and put the products back into the ground in Papua New Guinea,” said Mr. Mulder. The project aims to give one hundred per cent Domestic Market Obligation (DMO) before exporting to overseas markets. This means that most of what the Central Lime & Cement manufactures will be used in country for nation building. They include cement, bricks, concrete foundations and materials used for construction purposes will be sold in PNG first. Prime Minister (PM) James Marape, who was guest of honor at the occasion, said this will alleviate the challenges of importing such materials overseas. “Today I want to say this investment is a complement to the type of investment the Pangu Pati led government has been seeking for since we arrived in office in 2019,” said Marape. “We want investors from outside that grows our local economy, that stops import, that contributes to the exports.” “In as far as I and my government are concerned, this investment ticks all the necessary boxes in as far as government policy is concerned and Papua New Guinea’s aspiration for our progress.” The Central Governor Rufina Peter and local Member of Parliament (MP) for Hiri Koiari Keith Iduhu both also expressed gratitude for finally getting this limestone project off the ground, highlighting the significant benefits to trickle down to the people and the province and district. These benefits include a road link from the island to the mainland Central province in the form of a bridge, better social services, job opportunities and spin off business opportunities. Meanwhile, Prime Minister Marape said the official launching marks the Final Investment Decision (FID) that PLC has made in this major project in the Central province, showing confidence in doing such a major project in PNG. Prime Minister Marape and Mr. Mulder then proceeded to revealing the plaque to officially launch the Central Lime & Cement operation.

The Bougainville Copper Limited (BCL) is seeking potential mining partners to redevelop the Panguna Mine in the Autonomous Region of Bougainville (AROB). Since been granted the exploration license- EL01 in January 2024, BCL has made significant progress in onsite presence and activities over the past year. The Autonomous Bougainville Government (ABG) Chief Secretary Kearnneth Nanei, who spoke at this week’s PNG Resource Week CANCONEX in Port Moresby city, said the ABG holds 72.9% Share in BCL, after the Papua New Guinea (PNG) Government transferred 36.4% to the ABG. “As a major stakeholder, the role of the ABG together with our stake stakeholders and landowners will be crucial in this process.” In addition to this, Mr. Nanei said there has been an increase in mining exploration license applications received in the past year. Some of those exploration companies conducting exploration in Bougainville were in attendance as well at the 2025 Papua New Guinea Resource Week at the APEC Haus. “This signifies the potential that we have in the region,” said the Chief Secretary. The reopening of the Panguna mine is extremely important to the ABG and getting this underway would very much assist the region economically going forward.