NSL

NSL Board Appoints Directors

NSL Chairman, Reg Monagi today announced the appointments and welcomed both Mr Uiari and Dr Webster, noting that their collective 50-years of experience in their respective fields would quickly make them valuable members of NSL’s Trustee Board.

Mr Uiari has over 20 years of extensive legal, management and executive-level experience in PNG's oil and gas, mining and electricity sectors.

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NSL’s Stance On State Entities

The statement was issued following claims that the Government is pursuing a reform agenda that includes the merger of the State’s telco assets and possible partial privatisation with majority ownership and board control to be passed onto the super funds.

Mr Monagi said NSL is a growing fund that is actively seeking good investment opportunities that will contribute to long-term returns for its members, but clarified that all investments considered by the Fund follow strict regulatory frameworks.

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NSL Remains Cautiously Optimistic

Nambawan Super Chief Executive Officer, Paul Sayer and Chief Investment Officer, David Kitchnoge emphasized this during a recent interview.

NSL stated: “As Papua New Guineans, we often see the potential of where we can get to, even when things are not going well, and that makes us a very ‘resilient people’.

“As a major fund for Papua New Guineans, we too are passionate about unlocking some of our ‘potential’ to achieve a better future for everyone.

NSL plans update

As per the current new measures all public gatherings of more than 20 people including sporting activities are being restricted until the 30th of October, 2021.  

PNG Football Association (PNGFA) Competition Director Rooje Suwae said while its business as usual in the office, all 14 teams in the NSL have suspended training in compliant with current new restrictions in place due to the alarming surge of COVID-19 in the country.

NSL ready to pay benefits to members

Chief Executive Officer, Paul Sayer, said there are 3500 former public servant members, who have exited the Fund currently have their final benefit available to them.

“Since 2018, Nambawan Super has received regular payments from the State to fund unpaid public sector employer contributions from prior to 2009,” Mr Sayer said.

Former members with very specific circumstances have funds become available after they exit the Fund. These members should call 1801599 or visit the Nambawan Super Branch in their province to determine if their final benefit is available.

New-Look NSL Upcoming

Acting PNGFA competition director, Roojse Suwae confirmed the launching of the new-look conference National Soccer League.

The conference will be played in two conferences in both Northern and Southern regions. Fourteen teams have confirmed participation with seven teams in the Northern Conference and seven teams in Southern Conference.

NSL on anti-money laundering compliance

Trustee Board Chairman, Reg Monagi made this call to BSP Financial Group Limited (BFL) to work with the Bank of PNG (BPNG) and Financial Analysis and Supervision Unit (FASU), following public statements made by BFL rejecting claims of non-compliance with money laundering laws.

Numberwan Super Limited members are 12% shareholders in BSP Financial Group Limited.

Employer Conference Vital: NSL

The conference has traditionally seen employer representatives travel to Port Moresby to receive updates and engage with the Fund.

Chief Executive Officer, Paul Sayer, provided an overview of the Fund’s 2020 performance and highlights, and outlined a range of initiatives and importantly in helping its members in buying a home.

“But it’s part of the responses that we’ve had this year in thinking around how can we still engage with our members although the environment has been changing,” Mr Sayer said.

State owes K126m in rentals to NSL

NSL revealed this during the announcement of their 2020 Financial Results recently.

This is highlighted as one of the challenges for the super fund in 2021 given the economic downturn and COVID-19 Impact.

Chief Executive Officer, Paul Sayer, said they house many Government Departments and currently the challenge is getting those rentals to be paid so they can reinvent on behalf of their members, who are predominantly public servants and employees of the State.

Kitchnoge takes top NSL Investment Job

Kitchnoge is a well-respected and experienced professional who brings close to 20 years’ experience in PNG’s financial sector to the role.

A seasoned investment professional, Kitchnoge established his career with more than 10 years at Deloitte, and then 6 years gaining diverse experience with some of PNG’s biggest businesses including as Head of Research & Advisory with Kina Funds Management, the Licensed Investment Managers for Nambawan Super.