Papua New Guinea

PNG’s telecoms market is emerging from the stagnation of a government monopoly and has seen steady growth since liberalisation in 2007. With fixed-line penetration limited by geography, the country is targeting a rapid expansion of mobile networks in a bid to connect all of its citizens. Digicel, the top mobile provider, has been the primary benefactor in this shift, increasing its subscriber...

Mining has long been the mainstay of the PNG economy, representing more than two-thirds of the government’s revenues in 2011. Moreover, with its top commodities of gold and copper selling at near-record prices on global markets, the country is drawing increased attention from resource firms. Indeed, more than half of the country’s land area is covered by mining permits in the application process...

The energy sector in PNG, which has seen declining production for decades, is set to become a major driver of the economy as new investments come online. Gas is now the focus, with the $15.7bn ExxonMobil-led PNG LNG project due to start production in 2014. The megaproject has driven construction growth and set off a real estate boom in the nation’s capital thanks to an influx of foreign...

PNG’s insurance sector is seeing strong growth from a low base, with general insurance assets rising from PGK700m ($333m) in 2006 to PGK1.2bn ($571m) in 2009. Given the relative newness of insurance products to the country’s populace, non-life premiums outweigh life. High-volume subsectors include property, motor and civil construction insurance, but most of the major projects that fuel PNG’s...

With only 20 firms listed, the Port Moresby Stock Exchange (POMSoX) is subject to volatility, but market capitalisation is on an upward growth trend. Like the country’s formal economy, the bourse is dominated by mining and energy firms, along with related sectors like financial services and transport. PNG also has a thriving primary bond market, driven by commercial banks purchasing T-bills and C...

PNG’s banking sector is dominated by three major players: BSP, ANZ and Westpac. The challenges they face are familiar to emerging markets, including limited capital, riskier commercial loans and a largely unbanked population. The current issue is an excess of liquidity, as banks have accumulated plenty of cash through a build-up of foreign exchange reserves, yet are hesitant to lend it out. To...