PNG’S GROWING MIDDLE CLASS
With PNG'S growing middle class and youthful population, Kina Group’s Syd Yates sees the future for financial services in Papua New Guinea as strong. ‘Young Papua New Guineans want what everyone else wants. They want a nice house, they want to go on holidays, they want to have investment portfolios, and we’ve been able to help them with that. ‘We’ve seen some young people who have two, three houses now, and have also moved on to develop a small investment portfolio. To me, that’s the greatest thing. I feel really great when I see these young people being able to do that. Home ownership in PNG is probably one of the greatest things people can have.’ Yates is looking forward to a busy 2015. ‘In many ways, the Kina story is only just beginning,’ he enthuses.