NCSL

The reduced spending power resulting from inflation is expected to impact discretionary product businesses, as consumers prioritize spending on essentials. NSL, which owns businesses dealing in both essentials and discretionary products, will closely monitor the situation.

The shortage of foreign currency is a major challenge for NSL as it limits their ability to make strategic investments for their members, and constrains the growth prospects of local businesses.

Lahui said the drive is to get as many Papua New Guineans to sign up and enjoy some of the positive features of the society.

He said this during the announcement of the NCSL’s 2020 results.

NCSL CEO, Vari Lahui, said one of the major agendas for the society this year is too increase its membership base by promoting the society’s products.

Despite COVID-19 induced headwinds in 2020, NCSL had a reasonably good year.

NCSL announced a K13.24 million profit and 6% Crediting Rate, amounting to K12.3 million paid to members.

Chief Executive Officer, Vari Lahui, said there are 830 organisations currently registered to access their employee information through the portal and he looked forward to also welcoming those employers that are yet to register.

Chief Executive Officer, Vari Lahui, confirmed that the PoS were now available at the iconic Rabaul Travelodge Hotel, S-Mart Supermarket and Super No.1 Clothing in Rabaul, and Bitawood Trading in Nonga along the North Coast Road.

Lahui said these latest installations in Rabaul are in addition to the five installations in Kokopo, making it 15 installations for the members in the province.

The recent installations in Kokopo include Kenabot Mini Mart at Kenabot, Miracle Supermarket at Kalabon and Spirit of Rabaul, Top Brat Trading at Kadat and Pockley Street.

The NCSL Electronic Banking (e-banking team) can be reached on email: ebanking@ncsl.com.pg or through landlines: 313 2069, 313 2067 or 313 2068.

The Poro Debit Card is a bank card which can be used on any commercial bank ATM and POS terminal.   

It is now a mandatory requirement that all processed loans, transfers and refunds proceeds at NCSL are disbursed via the Poro Account. These funds can then be accessed via your Poro card at the ATMs and POS terminals.

(Staff of Kaupena Health Centre with their Poro cards)

Drive Safe Training PNG (DST-PNG) in Port Moresby offers 12.5 percent discount to NCSL membership in National Capital District (NCD).

DST-PNG is currently the only registered driving school with a dual driving car for driving lessons in PNG, with their office located within the Malagan Complex at Boroko, along Reke Street.  

The couple recently completed their high covenant three-bedroom house just in time for 2019 Christmas and the 2020 New Year celebrations. 

Gole is currently employed by Kutmor Ltd and said she came to know about NCSL through a colleague, who is also a fellow NCSL member.

The construction of the dream home took close to two years for full completion. Gole said having a goal such as building a house was not an easy feat, as one has to be strict with savings.

Electronic banking manager, Vavine Iamo, confirmed that there are currently three NCSL Point of Sale (PoS) terminals available for members to use whenever doing transactions using their Poro cards, and other bank cards.

Iamo said when paying for their shopping on the NCSL PoS terminals, members and the general public will be charged a low transaction fee of only 25 toea for every purchase.

The refresher trainings are necessary to train checkout operators on how to operate and use the Poro card on NCSL Electronic Fund Transfer at Point of Sale (EFTPOS) terminals and also allow them to familiarise themselves with these terminals.

The NCSL terminal is a dual sim touch screen terminal, which was introduced to the market in June last year and can accommodate:

CAL is a joint venture company which was incorporated in February 2016 and specialises in software development.

The company was established with a share capital of K1,000. NCSL has a 51 percent shareholding while Software Factory Limited holds the other 49 percent.

After three years of successful operation and on conclusion of the audit of its 2018 financial statements, the Board of CAL declared total dividends of K200,000 with NCSL receiving K102,000 and Software Factory Limited receiving the balance. CAL now has net assets totaling K812,000.