Nambawan Super Limited Expects K50 million Loss in Interests, fueled by High Inflation

The largest Superannuation Fund in Papua New Guinea , Nambawan Super Ltd is expecting at least K50-million in reduced interest income for 2022.      
In a statement, Chief Executive Officer Paul Sayer says this is due to some of its investments coming under pressure as a result of a combination of high inflation, supply chain disruptions, rising fuel, and energy prices, the introduction of the Additional Company Tax on the BSP Financial Group Ltd among others.

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Mr. Sayer says the fund has tried to balance out its investment portfolios both offshore and locally, however, has experienced challenges on both sides. 
Meantime, despite the challenges, the CEO noted that the fund has also delivered positive outcomes and will remain committed to these investments into the future. 
The achievements include injecting over 700 million Kina into the economy through Exits, including resignation, retirement & Death Benefits Payments, and Monthly Unemployment Benefits payments to over 12 thousand members and beneficiaries.
NBC News / PNGfacts

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