Papua New Guinea finance company Moni Plus is in expansion mode, after launching a state-of-the-art online foreign exchange service earlier this year.

David Kelso, Managing Director of Moniplus (bottom left), along with colleagues (clockwise) Ken Dunn (Head of Asset Finance), Mal Parsonson (Head of FOREX) and General Manager Gajanan Barve.

The first of its kind in Papua New Guinea, the service offers an innovative, web-based solution for foreign currency transactions that is available 24 hours a day, five days a week.

‘PNG’s Forex market has traditionally been dominated by the big banks,’ says the company’s Managing Director David Kelso. ‘Our service is simple to use and competitive, but also very convenient, as customers can get secure rate quotes and perform transactions after normal banking hours.’

Heduru Moni Limited (trading as Moni Plus) was founded as recently as 2006, primarily to provide personal loans for items like school fees and medical expenses.

Its base of around 15,000 personal loan customers has given the company a strong platform on which to diversify its activities. Besides the new foreign exchange service, it has also added an asset finance division aimed at small and medium-sized businesses.

‘We can now offer some kind of service to most individuals and businesses in PNG,’ comments David Kelso.