Bank Board Members
The Board of Bank of Papua New Guinea is established under Section 25 of the Central Banking Act 2000 as amended in 2021. The current members of the Bank of PNG Board are:
Mr David Toua, Chairman
Mr Toua was originally appointed to the Board in February 2019 for a term of 3 years as a non-ex officio member. After the CBA amendments he was reappointed for a term of 4 years from 22 December 2021.
Mr Toua is a very experienced business executive with comprehensive management and operational skills. He has served in various senior management executive positions in several corporate organisations.
He is Chairman of ABAC (APEC Business Advisory Council) and the NCD Health Authority.
He is a Board Member of the Business Council of PNG, the Employers Federation of PNG and the Mineral Resources Authority, an Independent Member of the PNG Incentive Fund Strategic Management Group, a Director with Post (PNG) Ltd and New Britain Palm Oil Ltd and an Advisory Board Member of the Royal Port Moresby Golf Club.
He holds a Bachelor of Arts (English Literature, Economics and Government) from the University of Queensland, Australia.
Ms Elizabeth Genia, AAICD
Governor, Bank of Papua New Guinea
Ms Elizabeth Genia has nearly four (4) decades experience with the Bank of Papua New Guinea. Much of that time has been in senior level roles across a wide range of the Bank’s responsibilities, including positions as Head of Internal Audit Department and Financial and Administration Department and the leading supervisory role with the Bank’s strategic planning team.
More recently Ms Genia held the position of Assistant Governor, Corporate Affairs Group, responsible for the critical functions that support the Bank’s overall operation, including strategy and risk management, human resources, corporate services, information and communication technology, facilities and properties management.
Over the course of her career in the Bank, Ms Genia has attained broad business experience in finance, auditing, corporate governance, strategic planning, risk management, administration, policy development, all underpinning her deep knowledge of central banking. As a member of the Bank’s Executive Committee for many years, she has been involved in key decision-making affecting the Bank’s day to day operations as well as future development.
Ms Genia, has built a strong reputation both within PNG and internationally as a thought-leader in financial technology as well as gender equity issues. She is a sought-after guest speaker on these topics.
Her impressive formal qualifications include a Bachelor of Commerce from the University of PNG, a Masters of Business Administration from the University of Queensland, Australia, Graduate Award Certificate in Management and Organisational Change from Australian National University, Canberra and specialised studies sponsored by the Commonwealth Secretariat in Financial Technology and Innovation at Oxford University, United Kingdom.
With a strong commitment to continuous learning and development, Ms Genia is an active member of several professional bodies, including the PNG Business Coalition for Women, for which she held a board position. Other Professional affiliations include: Member PNGID; Member of PNGIA; Member of ILA; Member of PNGHRI; Member of ISACA; Member of AHRI; and Associate Member of AICD.
Ms Genia was appointed by NEC as a/Governor from January – December 2023. The Prime Minister and the PNG National Executive Council on 20 December, 2023 appointed Ms Genia as the first female Governor of the Bank of Papua New Guinea for a term of four (4) years.
Mr Richard Kuna
Mr Richard Kuna was originally appointed an ex officio member of the Board in November 2001 in his capacity as the President of Certified Practising Accountants PNG (CPA PNG).
Following the CBA amendments he was reappointed for a term of 4 years from 22 December 2021. Mr Kuna is a Partner with Kuna Taberia Kiruwi Accountants & Advisors.
He is the President of CPA (PNG), a Member of the Accountants Registration Board of Papua New Guinea and a Director of Wereck Insurance Brokers Ltd.
Mr Kuna holds a Bachelor of Business in Accounting from the University of Technology, Sydney Australia and is a qualified Certified Practising Accountant.
Prof. David Kavanamur
Dr David Kavanamur was appointed to the Board on 20 December 2023 for a three year term as a non-ex officio member.
He has over 30 years of professional experience as a public servant at the highest level, and as a highly sought-after strategy consultant. Dr Kavanamur specialises in the development and implementation of national and program level strategy, public sector reform, human capital development, corporate governance, and program design and implementation. He has also performed major international strategic assignments.
A highly respected advisor to government, he wrote Papua New Guinea’s Vision 2050, the 40-year strategic vision and framework for the development of PNG’s current Medium-Term Development Plan III.
Dr Kavanamur is Managing Director of Kumul Consolidated Holdings, the holding company for nine state owned entities. His academic positions include Adjunct Professor at James Cook University’s Cairns Institute, Australia, and Fellow of the Centre for Island Pacific Research and Development, Australian National University.
He holds a Bachelor of Arts with Honours (Economics & Public Administration) from the University of Papua New Guinea, a Diploma in Economic Policy Analysis from the PNG National Research Institute, a Master of Philosophy (Development Studies) from the Institute of Development Studies from the University of Sussex, UK, and a Doctor of Philosophy (Strategic Management) from the University of Western Sydney, Australia.
Mr Michael Reddell
Mr Michael Reddell was appointed to the Board on 20 December 2023 for a three year term as a non-ex officio member.
Mr Reddell is a semi-retired economic adviser and a trustee of two New Zealand regulated superannuation schemes. As a highly-respected commentator on central banking and related issues, he is a regular contributor to international publications and also produces the blog www.croakingcassandra.com
Mr Reddell spent most of his career at the Reserve Bank of New Zealand in a range of senior management and advisory roles, covering macroeconomics, monetary policy, financial markets, and financial stability and regulation. He also spent time as a Special Adviser on macroeconomic policy matters at the New Zealand Treasury.
Mr Reddell spent two years in the 1980s working for the Bank of Papua New Guinea as a resident economic adviser, and held a similar role at the Bank of Zambia in the 1990s. He later served as Alternate Executive Director on the board of the International Monetary Fund, representing a constituency of 14 Asia-Pacifc countries, including Papua New Guinea, and has been a short-term adviser to a number of developing and emerging country central banks.
Mr Reddell has a Bachelor of Commerce and Administration (Honours) in economics from Victoria University, Wellington, New Zealand.
Sir Robin Fleming
Sir Robin Fleming KBE CSM was appointed to the Board on 3rd April 2024 for a three-year term as a non-ex officio member.
Sir Robin Fleming KBE CSM was Group CEO and Managing Director of BSP Financial Group Limited having retired in 2022. He worked in the banking industry in Papua New Guinea for 42 years was Group CEO and Managing Director of BSP Financial Group Limited for 9 ½ years.
Sir Robin holds a MBA and a Master of Management from Charles Sturt University. He was awarded a Knight Commander of the Most Excellent Order of the British Empire in June 2023 for services to the banking industry, and the Order of the Star of Melanesia by the Independent State of Papua New Guinea in 2015 for service to community and industry. He is also an Honorary Fellow of PNG IBBM and an Honorary Professor at the University of PNG – School of Business and Public Policy .
With his various roles during his career in banking Sir Robin has had exposure to and an in-depth understanding of the banking system in Papua New Guinea and the financial services industry in general. He has a good understanding of monetary policy, foreign exchange regime, and foreign exchange practices in Papua New Guinea. He also has a good working understanding of Life Insurance and has had detailed exposure to both capital markets and the superannuation sector.
Mr Dairi Vele
Mr Dairi Vele was appointed to the Board on 3rd April 2024 for a three-year term as a non-ex officio member.
Mr. Vele is the Executive Chairman of State Negotiations, spearheading critical dialogues for national resource projects and leads negotiations pivotal in securing commercial agreements between the government, landowners and other stakeholders.
Mr. Vele’s professional portfolio is extensive and diverse, reflecting a career dedicated to the advancement of the nation’s interests through strategic negotiations and leadership. He was the Secretary for the PNG Treasury from 2013 to 2021.
Throughout his career, Mr. Vele has held over 36 board positions across a spectrum of industries, reflecting his broad expertise and exceptional ability to navigate complex stakeholder landscapes
Mr. Vele is a graduate member of the Australian Institute of Company Directors and currently also serves on the Board of the Mineral Resources Development Company.
He holds a Bachelor of Economics degree from the Australian National University.
Mr Mark Baker, GAICD
Mr Mark Baker was appointed to the Board on 3rd April 2024 for a three-year term as a non-ex officio member.
Mr Baker is a highly experienced international banker having held senior roles with HSBC in Saudi Arabia, Hong Kong, India and Bahrain, and with ANZ in Australia and Papua New Guinea. He was the ANZ Country Head in Papua New Guinea from 2012 to 2023, then retiring from the ANZ Group. Prior to his career in banking, Mr Baker was an Officer the Royal Marines, based in the United Kingdom.
During his time in Papua New Guinea, Mr Baker was President of the Australia PNG Business Council (2019-2022), Director Centre of Excellence for Financial Inclusion, Director Institute of Banking and Business Management and Chairman Salvation Army Territorial Advisory Board.
He holds a Bachelor of Science (Honours) from the University of Southampton, a Master of Business Administration from Henley Business School, and is a Graduate of the Australian Institute of Company Directors.
His varied roles, both by geography and function, have given Mr Baker a broad exposure to the global finance sector, and a deep understanding of the banking system in PNG. He has a good understanding of monetary policy, and its associated elements, in particular in the PNG environment.
Mr Jeffrey Yabom
Mr. Jeffrey Yabom was appointed to the Board on 3rd April 2024.
Mr. Jeffrey Yabom is a career Central Banker with 33 years of experience with the Bank of Papua New Guinea. He joined the Bank in 1990 straight after completing his studies at the University of Papua New Guinea. He spent all his career in the Bank in policy areas involving monetary policy analysis, fiscal & debt analysis and forecasting, real sector analysis and forecasting, macroeconomic research and modelling/forecasting. He worked in the Monetary Policy Unit, Balance of Payment Unit specializing in debt analysis, and Economic Analysis Unit before he was appointed as Manager of Economic Analysis Unit in the Research Department. He was later appointed manager for the Research Department and served there for 8 years. In March 2024, he was appointment as Acting Assistant Governor of the Monetary and Economic Policy Group (MEPG) and confirmed as the Assistant Governor in February 2024. In April 2024, he was appointed by the National Executive Council (NEC) as Deputy Governor of the Bank of Papua New Guinea. He has a good research background and extensive experience in the design and formulation of monetary policy and its implementation. He has extensive engagements with Government agencies and multilateral institutions especially with the IMF on the current reform program undertaken by the Government and Central Bank to improve monetary policy transmission and the exchange rate policy framework.
He obtained a Bachelor’s Degree in Economics from the University of PNG in 1990, and a Post Graduate Diploma in Economics and a Master’s of Arts in Economics from the University of Manchester, UK.