Access to financial services remains a major problem for Papua New Guineans. From the busy towns and cities to the most remote areas, across the country and from formal to informal sectors, everybody faces the same problem.
It affects working class people. It affects SME owners, the informal sector people, even the well to do people highly placed in government or in the private sector.
But Papua New Guinea’s financial sector is undergoing rapid change. Against a backdrop of economic uncertainty, low formal banking penetration, and a growing push for digital inclusion, National Finance Limited offers some relief making loans simple and accessible for everyday people, a gap left by old and established banks and other lending companies.
General Manager William Haylock has overseen the company’s evolution from a small lender in 2001 to one of the country’s recognized names in personal finance.
Haylock is clear about the company’s origins. National Finance was created to fill a gap left by mainstream banks. “We started with one goal. Make loans simple and accessible for everyday people,” he says. The early years were focused on helping customers meet urgent needs such as school fees, medical emergencies, haus krai, and bride price, at a time when few other options existed.
Over time, the company’s mission has remained people-focused but has adapted to the realities of a growing economy and a population that is increasingly mobile and digitally aware. The company invests in its own people so that they can serve its customers well.
Tau Igoto, the Operations Manager affirms this.
“I started as a call center operator with National Finance and eventually moved to HR as a HR officer and eventually to operations division and”. She is now the local Operations Manager.
“We know that National Finance, is people foccused, people minded and it was built by Papua New Guineans for Papua New Guineans. National Finance invests in human resources and development of local capacity to serve our customers” she adds.
Tau Igoto, the Operations Manager, National Finance
Local ownership is central to National Finance’s identity. Haylock and his leadership team understand the social pressures and financial challenges unique to PNG. “We know what our customers go through, including family obligations, education costs, and the unpredictability of life in PNG,” he says.
This understanding shapes everything from product design to customer service. Rather than applying a one-size-fits-all model, National Finance listens and adapts, combining robust systems with deep local knowledge and greater investment in its national staff.
The Collections Manager Monica Sariman says,
“I have great senior management leadership that continue to support and mentor and encourage career growth. It has been very rewarding to work with National Finance.
It gives me great satisfaction to provide financial solutions that assists with the financial needs of all Papua new Guineans”
Monica Sariman, the Collections Manager, National Finance
Expanding into rural and remote regions has been a defining challenge. PNG’s rugged terrain, limited infrastructure, and low digital connectivity make service delivery complex. Many communities are unfamiliar with formal finance and rely instead on cash and informal lending.
National Finance built trust through community engagement and financial education, using a Mobile Lending Unit to reach remote areas and establishing a network of branches and agents to ensure a local presence. This approach has advanced financial inclusion in a country where, according to recent estimates, only about 20 percent of adults have access to formal banking services.
The company’s approach to lending is shaped by the realities of PNG’s economy. Many customers, especially public sector workers, need fast access to credit for urgent expenses. Haylock is quick to point out that speed does not come at the expense of responsibility.
Every application goes through a structured assessment that considers repayment capacity, verified employment, credit history, and overall financial health. “We want to be a long-term partner, not just a quick fix,” he says. This disciplined approach is crucial in a country where income can be unpredictable and the risk of over-indebtedness is real.
Customer expectations in PNG are changing fast. The growth of mobile phone usage and the government’s push for digital transformation have raised demand for convenient, transparent, and secure financial services. National Finance has responded by upgrading its website, investing in mobile lending, and improving cybersecurity.
Operations have been streamlined for faster turnaround, and staff are trained to deliver clear, helpful service. These changes are not just about efficiency. They reflect a commitment to making lending responsible and accessible for today’s PNG.
Haylock sees National Finance playing a bigger role in economic empowerment and digital inclusion in the future. The company aims to expand its digital services, especially in rural areas, and continue innovating to meet evolving customer needs.
“Our vision is to be more than a lender. We want to be a partner in building financial independence and sustainable growth across Papua New Guinea,” he says.
National Finance’s journey is closely tied to the broader financial landscape of PNG. The country faces ongoing challenges such as low financial literacy, limited infrastructure, and a large informal economy. Yet there are also opportunities as digital transformation and targeted financial products begin to reach more people. Haylock and his team are betting that a mix of local understanding, responsible lending, and digital innovation will keep National Finance at the forefront of this change.
For William Haylock, the mission is clear. “We are here for Papua New Guineans, now and into the future.”
