About Papua Finance

Papua Finance Limited (PFL) is incorporated and registered with the Papua New Guinea Investment Promotion Authority (IPA) on the 14th December, 2010, and licensed by Bank of Papua New Guinea (BPNG) under Banking & Financial Institution Act 2000 as a authorised  financial institution mostly owned and managed by local, indigenous PNG citizens  for  providing quality lending services at very low and affordable interest rates to the below-average citizens of PNG to financially assist them in times of need in their daily living as well as to finance those having need of assistance to start up business and/or to expand existing business, thus requesting funds  for an additional working capital/capital asset purchase.

Papua Finance Limited will also take deposits with attractive interest rates to those who have surplus cash to assist those in need.

There are many banking and financial institutions in the country providing similar banking and financial services to prospective clients according to their own respective terms and conditions, purposely comply with the guidelines of Bank of Papua New Guinea (BPNG). However, PFL strongly and confidently believes that of course demand for accessing credit facility is very high due to the fact that individuals’ various business needs and wants. With this, PFL is really committed to provide this easy and accessible financial services competitive in the financial markets domestically so it closes this gap and maintain a reputable financial company in this banking and financial industry.

Papua Finance Limited has a great vision to participate effectively and competitively at market and willing to be partnership with any corporate client(s) to ensure easy and conducive environment to facilitate credit to its employees. Also, flexibility in assessing and helping those prospective individuals doing either formal or informal business that has a fascination to prosper in future. PFL is not only profit oriented company, nevertheless, believes that providing accessible and affordable credit facility would directly or indirectly contribute immensely for the betterment of individuals well being as well as contribution to the nation building and economic growth.

VISION

To be one of the best financial service providers in Papua New Guinea and to international business houses with the support of quality staff who willingly contribute to the continuous improvement of customer services and financial products with reasonable return on shareholders’ fund.

MISSION

  • To be a responsible corporate citizen in improving the national economy of Papua New Guinea and enriching the lives of its people.
  • To provide a wide range of effective, efficient and accessible financial products and services.
  • To be recognized nationwide.

The Papua Finance is a socially responsible enterprise. We support sustainable socioeconomic, cultural and environmental development initiatives aimed at enriching the lives of the communities where we have business presence.

Central to our Corporate Social Responsibility (CSR) commitment is our policy to conduct business in a manner that is compatible with the needs of the local people. In this respect, we ensure that our business presence adds sustainable and measurable value to our host communities. The Bank has been supporting needy and deserving projects, institutions and individuals around the country and creating long term relationships with them.

We measure our success not only in terms of financial criteria, but also in building customer satisfaction and employee engagement, and supporting the communities we serve. This way of thinking is evident in the Bank’s balanced scorecard approach to management, which integrates CSR elements into our strategic planning and performance evaluation processes.

We have developed a comprehensive CSR strategy with a major focus on education, healthcare, environment, sports and social development.

    Corporate Governance refers to the way in which a company is governed, how it makes decisions, its processes and policies, and how it deals with the various interests of its many stakeholders — including shareholders, customers, employees and the broader community.

    Corporate governance is achieved by establishing a system that clearly defines authority and responsibility resulting in a system of internal controls that is regularly tested to ensure effectiveness.

    At ABC Capital Bank Limited, we place a high degree of importance on the maintenance of a sound corporate governance structure and applying the highest standards of business integrity and professionalism in all areas of the institution’s activities.

    Meet The Team

    BOARD OF DIRECTORS

    MR. CHONG SAW LING

    CHAIRMAN

    Born in Malaysia on the 5th of November, 1952, a professional accountant Eric Chong is a member of the Malaysian Institute of Accountants and holds a CPA PNG. He also holds a Bachelor of Commerce (major in accounting) from the University of Otago, New Zealand and additionally a Diploma in System Analysis, National Council of Computer of United Kingdom.

    Mr. Chong has had 40 years of international professional experience in sectors of Petroleum, Fast moving consumer products in a number of countries including China, Hong Kong, Singapore, Malaysia and New Zealand.

    His past work experience is as follows:

    • 2 years as Senior Auditor with Coopers and Lybrand’s, New Zealand
    • 6 years as Company Secretary and Finance Manager for Mobil Oil, Malaysia and Singapore
    • 6 years as Company Secretary and Financial Controller with Allied Signal, Singapore
    • 26 years with Asia Pacific Breweries Ltd as Financial Controller in China and on to PNG where he is currently Company Secretary and Financial Controller of South Pacific Brewery Ltd.

    He also involved in a brewery green field project in China in the mid-90s. His appreciation of diverse cultures and in-depth knowledge of best practices especially in areas of IT/ERP and business models would be an added advantage to our proposed venture.

    MR. ANTHONY WAIRA

    DIRECTOR

    Mr. Anthony Waira is a seasoned lawyer under Waira lawyers, a Law firm promoted by him. Have attended Sepik Agriculture College in East Sepik Province and obtained a Certificate in Tropical Agriculture in the year 1989 and worked as a Planation Supervisor at Kapiura Oil Palm Plantation for few years. Working there for a couple, in 1991 he moved to work as the District Nutritionist in the Tambul Nebliyer Zone in the Western Highlands Province until 1998. While working as nutritionist, in 1994 he chose to continue his studies in Agriculture to obtain a Post Certificate Diploma in Tropical Agriculture from the Highlands Agriculture College in the Western Highlands Province.

    In 1999 he discontinued from the job and attended the University of Papua New Guinea to study law and graduated with a Bachelor of Laws in 2002. After completing degree in Law, until 2007 he worked as a Lawyer, Principal Legal Officer and the Corporate Secretary with the National Housing Corporation based in Port Moresby. In 2008 he established Waira Lawyers, his own Law firm for practicing law.

    He has got diversified exposure in various fields and a seasoned lawyer of repute.

    MR. OWEN LOUFA KOSE

    DIRECTOR

    Mr. Owen Kose is a Certified Public Accountant, PNG. He has a Diploma and Bachelor’s Degree in Commerce from UPNG. He started his illustrious career with Auditor General’s office in 1996 as a Graduate accountant to becoming a Senior Auditor in 2005.  From 2005 to 2012, he worked as a Senior Analyst with BPNG. During this tenure he had the opportunity to get exposed to the various intricate aspects of financial institutions and how they influence the growth of economy of the country. Later on in 2013 he chose to return to the Auditor General’s Office managing, Human resources and Training and Development, until 2015. Being a qualified accountant, in 2017 he chose to have a brief stint with Tax Office (IRC) as a Manager for Risk Programming and Internal Audit. After leaving IRC he worked as General Manager, Business development with Gulf Investment Trust Fund. Presently from 2020, he works as General Manager for Gulf Papua Energy Ltd, the Gulf Provincial Government arm for the business function and the strategic development of Papua LNG and PASCA and other future oil and gas developments in the region.

    He is having wide and rich experience covering various sectors, both under public and private sector to offer a realistic view of shaping business in Papua Finance.

    MR. ANDY KENAMU, SHARE HOLDER

    DIRECTOR

    A very successful and well-respected Papua New Guinea business man, Mr. Kenamu was born on the 7th June 1966, in Pori, Hela Province. He is married with 3 children and affiliated to Christian Brethren Church.

    Mr Kenamu graduated from University of Papua New Guinea in 1996 with a Degree in Bachelor of Arts (Political Science &Public Administration)

    He started his career as the Postal and Administrative Officer with the Post office (1987-1988), followed by Agriculture Extension Officer with the Oil Palm Industry (1992-1995), then a year as teacher at Koroba High School, 3 years as the District Affairs Officer (Kiap) Tari District and then from 1999 to 2008 worked as Law and Community Affair Coordinator, at Hide Gas field with Oil Search Ltd.

    In 2009, with his vast experiences, Mr. Kenamu used his business acumen to start a highly successful property management company Our Real Estate Ltd as the Managing Director. It is now managing his own and clients’ properties and developing his own land bank.

    A highly influential person with diversified interests in the development of the company.

    MR. CHRIS MAGAYA, SHARE HOLDER

    DIRECTOR

    Mr. Chris Magaya is a native of Hela Province in PNG now settled in POM. He is a Certified Practicing Accountant with a Bachelors Degree of Commerce in accountancy and a Diploma in Commerce, both from the University of Technology in PNG. Started his career in the early 1990s as a graduate auditor and later as Senior auditor with Nades and Associates. Later from 1998 to 2002, was working as the Finance manager with the Copra Marketing Board of PNG. Later on in 2022 he moved to Kokonas Indastri Kopresen and Presently working as General manager, corporate affairs of the company. He is having wide and rich experience in the industrial sector, marketing and finance sectors of PNG and has been in the board of PFL since 2019.

    SREEKUMAR VAMADEVAN

    CHIEF EXECUTIVE OFFICER

    Mr. Sreekumar Vamadevan, has an MBA in Banking & Finance from the Prestigious University of Wales in UK and a professional Bachelor’s Degree in Agriculture from the Kerala Agricultural University in India. Starting his career as a Probationary Assistant Manager with Canara Bank in 1994, he chose to leave the bank for good in 2008 while serving as the Head of Management Information, Planning & Development and Profit Planning Section, to join as the Head of Region and Operations of Exim Bank (Tanzania) Ltd having administrative, business and operational control over the entire up-country branches of the bank.

    After leaving Exim Bank in late 2013 he had joined as the Director of Finance & CFO with one of the healthcare companies in Kerala, specialized in Eye care. After that he worked as Chief Operations officer with Azizi Bank in Afghanistan. Just before joining Papua Finance, he was the Executive Director to ABC Capital Bank in Uganda.

    He has rich and varied exposure in Corporate Governance, Organizational Planning, Banking Operations, Credit, Budgeting, Retail and Corporate banking, Executive Leadership, Policy Formulation and Human Resource Practices.

    LAS LASCO LEO

    HEAD (AUDIT, RISK & COMPLIANCE)

    Mr. Las Lasco LEO has a Bachelor’s Degree in Business & Management (BBM) esp. in Banking & Finance from the University of Papua New Guinea (UPNG). After Graduating from the University of Papua New Guinea (UPNG) in 2014 had joined Papua Finance Ltd as a fresh graduate and started his career as a trainee Loans and Credit officer. He has spent more than 9 years of service with the company and has held many positions within the company as Senior Loans officer, Senior Credit Analyst & Credit Control, Audit & Compliance officer, OIC HR, Head of Audit & Compliance, Recovery officer, Supervisor Legal & Recoveries, Acting Head of Legal & Recovery, Acting Head of Audit, Risk & Compliance and currently the Head of Audit, Risk & Compliance.

    He is exposed to Policy formulation of PFL & Human Resource within the company, attended many Conferences organized for CEOs, attended all the Money – Laundering & Counter Terrorism Financing Conferences held by the Central Bank (BPNG) and corporate membership Conferences held by Nambawan Super & Commission of Higher Education.

    JORDYN PORI NANAYA

    HEAD OF ACCOUNTS & OPERATIONS

    Mrs. Jordyn Nanaya is holding a Bachelor in Business accounting and a Diploma in Commerce, both from the PNG University of Technology at Lae. She started as a trainee officer with Papua finance in 2013. Progressing her long career with Papua finance, she has worked under various capacities within the organization and proven herself as a person with high integrity and hardworking. She was elevated as Head of Accounts and Operations since Jan 2022.

    KENNY ANOTE

    HEAD OF SALES AND CREDIT

    Mr. Kenny Anote graduated with Certificate In Business Studies from Goroka Technical College in 1985. He started his career in 1985 with Papua New Banking Corporation and continued to work there when it was taken over by Bank South Pacific in 2004 until 2020.

    Specialized in mortgage lending, He is having wide exposure in General banking, credit initiation, credit appraisal, credit administration and credit monitoring. He has rich experience as a team member in the policy formulation under credit.

    He is the Head of Credit and Sales with PFL since 2020

    VIVIAN EDWARD

    HEAD OF ICT

    Mr. Vivian Edward who currently works as the IT Manager with Papua Finance, has a Bachelor of Science in Computer Science from PNG University of Technology and Diploma in IT from British Computer Society. He started his career as an IT Academic with PNG University of Technology, International Training Institute and Pacific Adventist University. He left Teaching and joined the workforce through Enterprise Technology Limited (sub-contractor to Kumul Petroleum Holdings) in 2019. Then left and joined National Finance Ltd as the Business Analyst in 2020. He then joined CCAMATIL (now CCEP) as Application Support Officer in 2021. He did a 3 months consultancy with Equal Playing Field carrying out IT Audit on their system towards the end of 2021. He joined Papua Finance in his current position in January of 2022 and has been with us ever since.

    He has wide experience in all areas of IT from Database to System development to Network setup/administration to IT Management as well.

    ALLAN KOIM PUK

    HEAD OF RECOVERY & LEGAL

    Mr. Allan Koim Puk is employed with Papua Finance Limited as the Head of Recovery and Legal. He obtained his Bachelors of Law (LLB) degree from the University of Papua New Guinea in the year 2014 and admitted to the bar in 2015. His first employment was with Koisen Lawyers as a Junior Associate practicing as a commercial litigation lawyer from the year 2015 to mid-2017, then to join with Warner Shand Lawyers, Hagen, as an Associate lawyer from the year 2017 to the year 2019 as a civil and commercial litigation lawyer. After leaving Warner Shand Lawyers, he became the company lawyer for Lama Group of Companies and recently joined with Papua Finance Limited as the Head of Recovery and Legal in the year 2022.  He as experience in civil and commercial litigation, conveyance laws, corporate laws and a broader knowledge of the laws and legislations in Papua New Guinea.

    87%

    Successful
    Applications

    94%

    Return On
    Investment

    100%

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    Secure

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