Papua New Guinea
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Nasfund signs partnership with ABG

The National Superannuation Fund Limited (Nasfund) has signed a partnership agreement with the Autonomous Bougainville Government (ABG) to foster investment talks and promote superannuation awareness in the province.

Under this three-year colla­borative initiative, Nasfund and the Autonomous Bougainville Government, through its mandated commercial arm the Bougainville Public Investment Corporation Limited (BPICL), will administer and drive all programs between the two parties.

Nasfund’s chief executive officer Rajeev Sharma said the fund is committed to working closely with the ABG to identify and develop investment opportunities and to empower locals to be financially secure through superannuation savings.

‘’Nasfund recognises the uncharted paths in economic development, business, and socio-economic impact inherent in the immense potential of Bougainville and its people.

“We also recognise the need for collaboration and partnership and the effort required to leverage each other’s strengths to bring tangible and sustainable change that is good for the people of Bougainville and the members of Nasfund.

“We are also pleased that through this partnership, BPICL will assist us to drive awareness on financial security and savings throughout the Autonomous Region as well as benefit locals in the region to participate in financial literacy training, and savings programs allowing those involved in small economic projects and SMEs to save for their tomorrow.’’

Vice President and Minister for Commerce, Trade and Economic Development in the ABG, Patrick Nisira, in counter-signing the MoU, stated that Nasfund is an important strategic partner with the expertise and financial resources to invest in the strategic productive assets of the Region.

“The AGB will support this partnership between Nasfund and BPICL to grow the economy of Bougainville. We have opportunities in property investment, hotels and resorts, infrastructure, land development, and investment in financial services, apart from our minerals and agriculture.

“We believe this MoU is the start of the greater things to come for the people of Bougainville and Papua New Guinea.’’

The Autonomous Bougainville Government is the second province after Morobe to partner with Nasfund.