BSP and New Porgera partner

BSP and New Porgera Limited partnership provides blueprint to bring banking services to remote mining communities.

The ground-breaking partnership between BSP and New Porgera Limited (NPL), which has seen the safe recommencement of banking operations in Porgera and the planned roll-out of a financial literacy program for the Porgera community, provides a blueprint for broadening the community benefits of mining in remote communities.

BSP Group General Manager Corporate, Daniel Faunt, made the statement following the successful reopening of BSP Porgera Branch earlier this month.

“BSP’s Porgera Branch closed in 2022 in the aftermath of tribal violence, resulting in mine workers and the community having to travel long journeys to Wabag or Mt Hagen for banking services.

“We know that banking services and financial literacy play a vital role alongside mining operations in unlocking the full economic potential of the region.

“NPL’s willingness to partner and to bring innovative ideas to the table was a vital element in the return of banking services to the community, and we thank them for their support.

“The BSP-NPL partnership included several groundbreaking arrangements. For example, NPL is providing initial accommodation for BSP staff at Suyan Camp to facilitate the safe re-establishment of banking services and giving BSP access to NPL charter flight services on a cost-recovery basis to support operational requirements.”

As part of the partnership, BSP will also be delivering financial literacy training programs in the community, including to NPL’s workforce, promoting sound financial management and inclusive banking practices.

Mr. Faunt added: “Our partnership with NPL is a blueprint for broadening the community benefits of mining in remote communities, and we are pleased to be working closely with NPL to support the prosperity of the Porgera community.”

BSP’s Financial Literacy Program is designed to equip Porgera community members, including NPL employees and contractors, with practical money management skills, including budgeting, saving, responsible borrowing, digital banking usage, and long-term financial planning. Through the program, participants will:

Strengthen their understanding of budgeting and savings through targeted community outreach in collaboration with local leaders.
Support New Porgera Limited employees to make informed and confident financial decisions.
Encourage greater adoption of safe and convenient digital banking services.
Foster small business development and entrepreneurship across the district.

Through this partnership, BSP and NPL are investing in financial capability, long-term well-being and economic resilience for the Porgera community.

Picture Caption:
NPL General Manager James McTiernan (3rd from right) cutting the ribbon to officially open the BSP Porgera Branch.