Exepreneur

25/07/2025

Papua New Guinea’s financial landscape is rapidly evolving. Amid economic uncertainty, low formal banking access, and a rising demand for digital solutions, NATIONAL FINANCE LIMITED offers some relief making loans simple and accessible for everyday people, a gap left by old and established banks and other lending companies.

National Finance Limited has transformed from a modest lender in 2001 into a trusted name in personal finance, committed to making financial services more inclusive and attainable for all.

The General Manager William Haylock told Exepreneur in an exclusive interview
“We started with one goal. Make loans simple and accessible for everyday people,”

How is National Finance Limited navigating these challenging economic times and an uncertain business environment in Papua New Guinea to deliver accessible financial solutions to ordinary Papua New Guineans?

Discover the full story in our upcoming August issue.

19/07/2025

The recent removal of Kumul Petroleum CEO Wapu Sonk from Papua New Guinea’s NRL Franchise Board has sparked widespread discussion and raised questions about the role of geopolitical interests in PNG’s internal affairs.

Prime Minister James Marape announced yesterday that Sonk had agreed to step down following allegations reported by the Sydney Morning Herald concerning his past business dealings at Kumul Petroleum Holdings Ltd.

While Marape emphasized that Sonk is entitled to due process, he also stressed that the decision was necessary to uphold public trust in the NRL bid.

At first glance, this appears to be a straightforward response to allegations of corruption. Corruption has long presented challenges in PNG’s governance.

However, insiders and analysts suggest there may be more at play than what the headlines reveal. Some observers argue this situation is part of a larger geopolitical chess game. According to this view, Australia is leveraging PNG’s NRL bid as a strategic tool to expand its influence in the Pacific and counter China’s growing presence in the region.

In this narrative, Wapu Sonk’s removal is less about his individual conduct and more about signaling broader regional power dynamics. Papua New Guinea itself, rather than Sonk alone, may be acting as the geopolitical fulcrum or scapegoat within this complex landscape.

Australia has committed approximately A$600 million (around K2 billion) in taxpayer funds to support PNG’s NRL Franchise. This investment aligns with the broader strategic framework set out in the Australia–Papua New Guinea Bilateral Security Agreement (BSA). The agreement includes infrastructure cooperation such as ports and airports and explicitly aims to limit China’s influence in the region.

Sonk is reportedly connected, directly or indirectly, to commercial dealings involving Chinese firms. While no formal charges have been filed, insiders say the timing and pressure surrounding his removal suggest strategic motives consistent with the implementation of the BSA.

The removal of Sonk sends a clear message to PNG’s leadership. Alignment with regional strategic interests is expected, and dissent may carry heavy consequences. This dynamic raises questions about PNG’s sovereignty and how the country navigates pressures from its powerful neighbors during its 50th independence anniversary year.

Prime Minister Marape’s swift decision to accept Sonk’s resignation may have reassured Canberra. However, it also highlights the deep interference of geopolitical powers in PNG’s domestic affairs.

Whether or not Sonk is personally culpable remains to be seen, but the broader context suggests he may be a scapegoat sacrificed amid a more complex geopolitical struggle.

The interplay between internal governance challenges and geopolitical influence is fraught with complexity. Understanding that this case extends beyond corruption allegations is key to appreciating the multifaceted reality facing PNG today.

17/07/2025

Prime Minister James Marape says his overseas trips have delivered results for Papua New Guinea.

He met with reporters at Jacksons International Airport and said international links matter for trade and jobs. “Every Prime Minister before me and every Prime Minister to come must represent Papua New Guineans on the world stage,” Marape said.

Marape pointed to K200 million from the Green Climate Fund and K100 million from France for local forest and marine programs. He said these funds will reach communities and support projects across the country. He explained the deals came after key talks during official trips.

Marape said ExxonMobil’s leaders confirmed their investment in the planned US$40 billion LNG expansion. He stated this project will create new jobs and help build roads and infrastructure. Marape said the agreement with ExxonMobil is a sign of confidence in Papua New Guinea’s direction.

Talks also took place with leaders from the United States and United Kingdom. Marape said these discussions focused on security and trade as Papua New Guinea approaches 50 years of independence.

He explained the meetings were part of efforts to open new export markets and strengthen safety and support for the country. “These alliances help cement our status as a stable, forward-looking nation in the Asia-Pacific region,” Marape said.

On travel costs, Marape said all trips are planned and published. He told reporters, “All our international travels are budgeted for. We publish detailed summaries of meetings and follow up with action plans. The positive outcomes clearly outweigh the costs involved.” Marape maintained the benefits of more trade and investment are greater than the expenses.

Marape called for political leaders to shift from criticism to action. He wants support for farmers, fishermen, and small business owners now that new markets are open. “I’ve opened markets in China, Europe, North America, and beyond. Now, we must produce more and export more,” he said.

He also confirmed that, while King Charles III will not attend the 50th Anniversary celebrations, a senior royal will represent the UK. Marape told all leaders to focus on trade, business support, and growth in their own districts.

He urged all stakeholders to use the new links and build on them, keeping the focus on results over politics.

15/07/2025

SUBSCRIBE FOR FREE TODAY: Introducing Exepreneur CEO Series

Exepreneur Leadership Series has been renamed to Exepreneur CEO Series to focus only on high level CEOS and other C-Suit Executives as well as trailblazing entrepreneurs, investors and innovators in PNG and across the Pacific.

And guess what? Its coming to you on Video format.

The series uncovers leadership strategies, experiences and industries insights from leading C-Suit executives and entrepreneurs. Each episode focuses on how these executives handle challenges, lead their teams, and run their businesses.

Whether you are an entrepreneur, business professional, or interested in leadership, this series offers useful insights. The interviews provide practical advice you can use in your own work. We will cover personal stories and decision-making approaches relevant to the Pacific region.

Why Subscribe?

Subscribing to the Exepreneur CEO Series on YouTube, you get:
-Weekly interviews with top CEOs and C-Suit executives in the country and across the Pacific
-Leadership lessons and business strategies
-Stories that inform and inspire
-Access to a community of business professionals

How To Subscribe for FREE

Click the link in the comment section below to subscribe for FREE

14/07/2025

The Story of Janet Sios, Co-Owner of Paradise Private Hospital

Her father defied strict colonial laws that prohibited white men from having relationships with Indigenous women. An Australian kiap, he fell in love with a young nurse from New Ireland, leading to the birth of JANET SIOS,

"My father was a naughty guy. He would chase after my mum with his bike. Eventually, I was born," she jokes with a smile.

Colonial authorities eventually caught up with her father, resulting in his deportation back to Australia. Raised by a single mother, Janet faced numerous challenges but became an influential businesswoman in Papua New Guinea.

Today, she co-owns Paradise Private Hospital, one of the largest hospitals in the country, alongside her husband. Additionally, she owns Frangipani Hire Cars and Frangipani Printing Solutions, invests in real estate, and plays a key role in PNG Fashion & Design Week.

Where did it all begin? How did she achieve her success in business in Papua New Guinea? We took an in-depth look at her life in an exclusive interview covering her childhood, career, business ventures, and philanthropic efforts.

Subscribe to your YouTube channel for our new CEO SERIES interviews where we bring exclusive features of high level CEO and other C-Suit executives and successful business owners in PNG and across the Pacific to you.

SUBSCRIBE HERE:

Her father defied strict colonial laws that prohibited white men from having relationships with Indigenous women. An Australian kiap, he fell in love with a ...

10/07/2025

ExxonMobil has confirmed its commitment to a phased approach for developing Papua New Guinea’s major LNG projects including the Papua LNG, P’nyang LNG, and Wildebeest.

This was announced following a meeting between Prime Minister James Marape and ExxonMobil leadership at the company’s Houston headquarters.

The meeting included ExxonMobil CEO Darren Woods, President Dan Ammann, Senior Vice President Peter Clarke, and ExxonMobil PNG Managing Director Dinesh Sivasamboo. The PNG government was represented by Minister for Petroleum Jimmy Maladina, Minister for Mining Rainbo Paita, State Negotiating Team Chairman Dairi Vele, State Solicitor Daniel Rolpagarea, and Mineral Resources Development Company Managing Director Augustine Mano.

Prime Minister Marape said Papua LNG is expected to reach Final Investment Decision (FID) first, followed by P’nyang LNG and then Wildebeest. This phased development plan aims to maintain steady investment, construction activity, and economic growth over the next decade.

ExxonMobil updated officials on Papua LNG, led by TotalEnergies, noting ongoing efforts to manage cost pressures. All joint venture partners remain engaged in resolving outstanding issues. A joint meeting with the government, TotalEnergies, ExxonMobil, and other stakeholders is planned to address cost escalations and advance the FID process.

Regarding Wildebeest, ExxonMobil confirmed that exploratory drilling is underway and expressed interest in future development partnerships with the PNG government.

Marape emphasized the importance of this phased approach to ensure continuity in PNG’s LNG sector, supporting job creation and revenue generation.

He also highlighted the growing number of Papua New Guinean professionals working at ExxonMobil’s Houston office, reflecting past government investments in local capacity building.

Following the Houston meeting, Prime Minister Marape will travel to Washington, D.C., for discussions with U.S. officials and Newmont Corporation executives to strengthen bilateral relations and attract further investment.

“The development of our gas resources must deliver lasting benefits to our people,” Marape said. “With partners like ExxonMobil and TotalEnergies, these projects will support PNG’s economic growth as we enter our next 50 years.”

10/07/2025

Papua New Guinea is hosting the 45th Commonwealth Association of Tax Administrators (CATA) Annual Heads and Technical Meetings.

The event brings together senior tax officials from 47 Commonwealth countries to share knowledge and collaborate on improving tax systems.

The Internal Revenue Commission (IRC) of Papua New Guinea is leading efforts to modernize the country’s tax administration. Its vision is to build a system that is efficient, transparent, and supports national development by making tax compliance easier and fairer for all taxpayers.

Key reforms underway include the rollout of the Integrated Tax Administration System (ITAS), a digital platform that simplifies tax processes and improves service delivery.

The IRC is also focused on legislative reform, implementing new tax laws designed to clarify obligations and reduce complexity, especially for small and medium enterprises. Improved taxpayer segmentation allows the IRC to tailor services and compliance requirements more effectively.

Hosting the CATA meeting aligns with these goals. CATA is the world’s largest organization of tax administrations, promoting collaboration and best practice sharing among its members. Through CATA, the IRC exchanges ideas and contributes to regional improvements in tax administration.

The event provides a platform for Papua New Guinea to showcase its reforms and innovations. It also strengthens partnerships with other Commonwealth countries, supporting sustainable tax systems that fund essential public services and drive economic growth.

09/07/2025

Brian Riches was sworn in as the new Chair of both the National Information and Communications Technology Authority (NICTA) Board and the Universal Access and Service (UAS) Boards today.

Riches replaces Noel Mobiha, who held the position for several years and was known for his work in Papua New Guinea’s ICT sector.

The ceremony marks a transition in leadership at a time when the government is focusing on expanding digital access and improving ICT services throughout the country.

Riches will lead both boards as they oversee regulatory and operational aspects of the sector. NICTA is responsible for regulating the ICT industry, including licensing and resource allocation, while the UAS Board manages projects aimed at increasing access to communications services, especially in rural and underserved areas.

The UAS Board, established under the National Information and Communications Technology Act 2009, includes the Chair of NICTA, the heads of the departments responsible for communications, finance, and planning, and a private sector representative.

Jack Tomon was sworn in as the new Private Sector Representative on the UAS Board. Tomon’s appointment signals ongoing efforts to involve both public and private stakeholders in the country’s digital development.

Charles Chew has been appointed as the Independent Expert on the NICTA Board. The current NICTA Board consists of four members: the Chair, two non-executive members, and the Chief Executive Officer as an ex-officio member.

The UAS Board is responsible for managing the UAS Fund, which supports projects designed to improve ICT infrastructure and services, including mobile network upgrades, broadband connectivity, and broadcasting network expansion. These projects are part of the government’s broader strategy to connect unserved and underserved communities, supporting economic and social development.

Recent initiatives have included public consultations on UAS projects for 2025, with NICTA inviting feedback from stakeholders and the public on proposed projects. The UAS Secretariat is tasked with identifying areas that lack adequate ICT services and working with operators to extend coverage.

The new leadership is expected to continue efforts to bridge the digital divide in Papua New Guinea, with a focus on practical solutions and collaboration across government and industry.

09/07/2025

K92 Mining announced that Philip Samar is retiring from his role as Vice President, Government and Community Affairs. He will stay with the company as a senior advisor.

Samar is a Mining Engineer with more than 20 years of experience in Papua New Guinea’s mining sector. He spent two decades at the Mineral Resources Authority (MRA), the government agency that regulates mining and exploration.

From 2012 to 2018, he was Managing Director of the MRA. During that time, he helped shape mineral policies, worked with international partners, and managed licenses for major mining projects. He regularly dealt with government officials, international groups, landowners, and investors.

Samar joined K92 Mining in January 2019 as Vice President, External and Corporate Affairs, later becoming Vice President, Government and Community Affairs. He used his experience to help the company build strong relationships with government and communities. He also helped move the permitting process forward and supported the development of the Kainantu Gold Mine, including its Stage 3 Expansion.

John Lewins, K92 Chief Executive Officer and Director, said;

“Since joining K92 in 2019, Philip has played a key role in strengthening our business in Papua New Guinea. He has helped deepen our engagement with government and community stakeholders, supported important permitting processes, and provided valuable guidance on regulatory and strategic matters. His experience and understanding of PNG’s mining sector has contributed meaningfully to the advancement of the Kainantu Gold Mine.

"What has always stood out about Philip is his passion for seeing Papua New Guinea prosper, and his belief in K92’s role as a responsible partner in that journey. His work has reflected a strong commitment to sustainable development, local capacity-building, and long-term value creation for the country and its people.

"We’re grateful for the professionalism and insight he brought to his role, and we are pleased that he will continue to support the Company in a senior advisory capacity. With a strong team in place and a well-established framework for external engagement, we are confident in a smooth transition and continued positive momentum. On behalf of the K92 team, we extend our thanks to Philip for his service and wish him all the best in this next chapter.”

K92 Mining runs the Kainantu Gold Mine in Papua New Guinea’s Eastern Highlands. The company produces gold, copper, and silver. It declared commercial production in 2018 and is focused on expanding output through ongoing plant upgrades. K92 aims to become a Tier 1 mid-tier producer.

The company will announce a successor for Samar’s role soon. Samar will remain involved as a senior advisor, helping with government and community relations that are important to K92’s work.

Photo Credit: K92 Mining Inc.

02/07/2025

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22/06/2025

Fifty years after independence, Papua New Guinea (PNG) remains one of the world’s poorest countries.

Persistent poverty, weak infrastructure, and limited access to essential services continue to undermine development progress.

The IMF projects PNG’s nominal GDP to reach $31 billion in 2025. “Papua New Guinea’s economic outlook remains positive. Growth is expected to increase to 4.7 percent in 2025 from an estimated 3.8 percent in 2024 Nir Klein, IMF mission chief for PNG supported by the resumption of activities at the Porgera gold mine and improvements in access to foreign exchange.

However, these gains have yet to improve living standards for most citizens.

Poverty is widespread according to UNICEF report, with over 34 percent of the population living below the international poverty line of $2.15 per day. Rural poverty exceeds 40 percent, compared to 27 percent in urban areas. Most Papua New Guineans depend on subsistence agriculture, which suffers from low productivity due to inadequate training and poor infrastructure.

Access to electricity covers only about 20 percent of the population, and just 19 percent have safe drinking water. World Bank reported worsening education outcomes, with 72 percent of Grade 5 students unable to read age-appropriate texts. Health infrastructure is underdeveloped, contributing to malnutrition where nearly half of children under five are stunted. Youth unemployment remains high, with many young people neither in education nor employment.

PNG’s economy heavily relies on extractive industries, which account for over 70 percent of export earnings but employ only a small fraction of the workforce. The reopening of the Porgera gold mine and progress on major projects like Papua LNG and P’nyang gas developments offer growth potential but remain vulnerable to commodity price swings and infrastructure bottlenecks.

Foreign exchange shortages, power disruptions, and civil unrest, including the January 2024 riots in Port Moresby, have dampened business confidence as reported by local media. Inflation remains elevated at around 5.5 percent, driven by exchange rate depreciation and rising food and fuel costs.

Inequality persists, with wealth concentrated among political elites and urban centers while rural communities remain marginalized. The government’s Medium-Term Development Plan IV aims to improve infrastructure, social services, and stimulate private sector growth, but implementation challenges remain.

Despite these challenges, Prime Minister James Marape remains optimistic: “Our country’s challenges remain significant, but we can overcome them if we work together.”

PNG’s journey over 50 years has seen modest growth overshadowed by deep social challenges. Recent developments offer cautious hope, but turning economic gains into broad social progress remains the nation’s greatest challenge.

20/06/2025

George Kauli has been appointed as the new Executive Director of the
Papua New Guinea Extractive Industries Transparency Initiative (PNGEITI) National Secretariat.

This change in leadership comes as PNGEITI continues its work to promote transparency and accountability in PNG’s mining, oil, and gas sectors.

Since its establishment in 2013, PNGEITI has worked to ensure that revenues from extractive industries are managed openly and benefit the people of Papua New Guinea. The organization brings together government, industry, and civil society representatives to oversee this process.

Kauli, who has previously served as Director of Policy and Programs at PNGEITI, brings valuable experience to his new role. He said, “I am honored to take on this role and committed to furthering PNGEITI’s mission of promoting transparency and accountability. Our work is crucial to ensuring that revenues from PNG’s natural resources benefit all citizens.”

The outgoing Executive Director, Lucas Alkan, spoke about the organization’s ongoing transformation. “We are transitioning from a Secretariat to a Commission once the Commission Bill is passed,” he explained. “It is crucial that we have qualified professionals to lead this transformation.”

During his time as Executive Director, Alkan expanded the team and focused on building staff skills, encouraging training opportunities both locally and overseas.

PNGEITI plays a vital role in publishing reports that detail how money flows within PNG’s extractive industries. These reports help shed light on the sector’s contribution to the economy and how revenues are shared with the government and local communities.

The organization also fosters open dialogue among stakeholders, which has helped resolve issues like the reopening of the Porgera Mine. Transparency is key to attracting investment and managing resources responsibly.

With Kauli at the helm, PNGEITI aims to keep strengthening governance and ensuring that PNG’s natural resources are managed in the best interests of its people.

PNGEITI welcomes all stakeholders to stay engaged as it moves forward under new leadership, continuing its commitment to transparency and accountability in PNG’s extractive industries.