Monetary Occasions

“This incubation center will help many individuals in the metropolis, particularly these working independently,” Parkop stated. Hon Parkop additionally commended the collaborative spirit amongst stakeholders, saying, “We will name for partnerships to make sure the success of this middle,” adding that this initiative is just the start of a bigger journey to empower the native tourism sector. For further information about the Tourism Business Incubation Center and upcoming programs Business News, please contact the PNG Tourism Promotion Authority. The Bank of Papua New Guinea officially launched the Kina and Toea Exhibition, a show celebrating the nation’s wealthy financial historical past and the 50th anniversary of Papua New Guinea’s forex. This event, held as a half of the Bank’s fiftieth anniversary celebrations, coincides with the upcoming 50th anniversary of PNG’s independence in 2025. The Kina and Toea Exhibition was launched on 29 August and continued from 30 August to 6 September 2024 at the National Museum & Art Gallery in Port Moresby.

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“Deeply embedded in our traditions and cultural practices, shell money also represented social standing, and it was utilized in marriages, deaths, and other important ceremonies and events,” Genia explained. The arrival of colonisers marked a turning point within the country’s economic historical past, leading to the introduction of up to date currencies on 19 April 1975. “These contemporary currencies served as each economic instruments and national emblems of our independence and unity as a nation,” Genia noted. She provided insights into the cultural significance of the Kina and Toea, explaining that the word “Kina” is present in each the Pidgin and Kuanua languages and describes the priceless pearl shell extensively traded in PNG’s Highlands and Coastal areas.

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