PNG’s largest bank, Bank South Pacific, commences operations in Vanuatu

Bank South Pacific logo

Bank South Pacific (BSP) arrives in Vanuatu today. It will begin operations from the renovated former premises of Westpac Vanuatu. The official transfer of the business from the one bank to the other took place at 4pm today. Local Westpac staff will move to BSP. All Westpac customers become BSP client, their loans and accounts transferred. BSP currently services 650,000 people, is PNG’s largest bank and operates in six countries. (Daily Post)

The free flow of information as ordained by UNESCO gets fair consideration in Daily Post today. It starts with an explanation that the Public Service Commission clamp-down on civil servants’ access to social media is related mostly to time wastage and cost as regards power consumption. Certain public servants have reacted strongly. They claim the rights of individuals to information – and information promulgated by their PSC colleagues on government web pages — should be available to all.

Transparency Vanuatu (TIV) recently held awareness meetings on Vanualava to discuss Right to Information (RTI). The TIV page in Daily Post says Douglas Tamara, their Civic Education Officer, told the people in villages they visited “Just because the RTI Bill did not make it through Parliament does not mean that we have to slow down in our community awareness programme. It only pushes us to consult more and to encourage people to talk with their parliamentary representatives concerning their RTI stand.” TIV also insisted MPs must practice constituency consultation. In the near future draft Bills will be sent to MPs by the internet and this will make it much easier for them to discuss the substance of all Bills with their constituents. They are further encouraged to attend functions and visit schools to discuss legislation with those they represent.

The reporting of tuna fishing activities in Vanuatu has generally been poor, media participants in a Tunanomics workshop this week agreed. With a total of 10,000 tonnes a year leaving the country, Parliamentary Secretary Gratien Shedrack pointed out that the catch is huge and valuable. It is worth Vt 300 million a year to government. The Forum Fisheries Agency is providing the journalists’ workshop and today they are visiting the dormant Sino-Van fish plant at Blacksands. (Daily Post)


One Comment on “PNG’s largest bank, Bank South Pacific, commences operations in Vanuatu”

  1. Nasimal ( Nasingamelip ) says:

    I’ve seen BSP bank took over Westpac , so what would happen to those who are living overseas and have their accounts and transaction with Westpac ( Vanuatu ) right now ? I would like to know why BSP bank did not come out with some explaination to give us confidence .