Boosting financial inclusion and literacy is a key challenge facing the domestic financial services industry in Papua New Guinea. Based on recent estimates from the Asian Development Bank (ADB), only around 15% of the population has a bank account. The remaining 85% remains cut off from the formal financial system. Similarly, PNG’s informal sector...
Over the past decade, Papua New Guinea has witnessed substantial evolution of the Port Moresby Stock Exchange (POMSoX), which opened its doors in 1999 and has been posting gains in recent years. According to the stock exchange’s official statistics, market capitalisation more than doubled in 2010, reaching PGK109.5bn ($52.1bn), up from PGK50.1bn ($...
What measures are in place to ensure transparency and good corporate governance in the sector?
The largest of the Pacific Island nations, Papua New Guinea (PNG) occupies the eastern half of New Guinea and hundreds of nearby islands. A mountainous and forested terrain has led to astonishing cultural and linguistic diversity, even as it inhibited development.
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