PNG’S GROW­ING MID­DLE CLASS

Business Advantage Papua New Guinea - - Case Study -

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.

Kina Fi­nance manager Mike Malai hands over car keys to a new Kina no­vated lease cus­tomer.

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