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Port Moresby
November 15, 2019
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BSP and Kumul Consolidated Holdings Sign MOU

Chairman of Bank of South Pacific, Sir Kostas Constantinou, has announced that the bank has entered into a Memorandum of Understanding (MOU) with Kumul Consolidated Holdings.

The objective of the MOU is to establish a joint-venture to operate Pacific MMI Limited in PNG.

Sir Kostas said the MOU also allows for the expansion of the joint-venture activities into Fiji through BSP’s established insurance subsidiary in Fiji.

He said this move was in line with the group’s geographic and business diversification strategy.

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