In a financial world where stability is rare and returns are often modest, one institution continues to defy the odds. The PNG Power Staff Savings & Loan Society (PPSSLS) has again proven why it is the most trusted name in the savings and loan sector in Papua New Guinea. During its Annual General Meeting (AGM) held on Saturday, 31 May 2025, at the Holiday Inn in Port Moresby, PPSSLS proudly announced an additional 8% interest credit to all active ShareSaver (S1) accounts for the 2024 financial year.
A Remarkable 13.25% Return for 2024
This announcement marks yet another milestone in the Society’s journey, pushing the total 2024 interest return to an exceptional 13.25% – made up of a 5.25% regular base interest and the newly declared 8% additional interest. This result also pushes PPSSLS’ 5-year interest average to 13.85%, positioning PPSSLS as the benchmark in the industry for member returns.
A Legacy of Member-First Strategy
For those unfamiliar with the landscape, these figures are not just numbers – they represent a long-standing commitment to financial empowerment. In 2022, PPSSLS made headlines with a record-breaking 10% additional interest, and in 2023, despite economic headwinds, it upheld its standing by crediting members with another 8%. This string of high-yield declarations reflects a deliberate and disciplined strategy, one that puts members first.
Visionary Leadership in Action
What makes this story even more compelling is the clear vision driving the Society’s leadership. Board Chairman Mr. Andrew Kavanamur, in his remarks, highlighted that: “Despite 2024 transitional costs and broader economic pressures, we remained focused on our mission: to deliver maximized returns to our members,” he said. His optimism was evident as he noted a surge in new membership from both public and private sector employees, setting the stage for an even stronger performance in 2025.
The Society’s mainstay Mr Eliakim Tobolton (PPSSLS Manager) credited his small yet dynamic team for delivering a positive set of results yet again in 2024. Their tireless effort and quick adaptation ensured operations transitioned smoothly to the new office precinct. Mr Tobolton reiterated the move as strategic, positioning the Society on the open market to optimise operation, enable increased membership, and unlock improved product and service offerings for members going forward.
Innovation That Puts Members First
These accomplishments are not accidental. PPSSLS has strategically expanded its membership base, rolled out innovative financial products like the ‘Bungim Olgeta Dinau’ refinancing loan, and upgraded its systems and operations to improve efficiency. The result is a Society that not only rewards its members with the highest interest rates in PNG, but also provides them with the right tools that promote long-term financial wellbeing.
Why PPSSLS Is the Place to Be
For Papua New Guineans looking for a secure and high-performing place to grow their wealth, PPSSLS is the place for you. PPSSLS is more than just a savings institution – it is a movement of financial empowerment. It is a Society built on trust, discipline, and vision for growth and security. And as the numbers continue to rise, so does the confidence of its members, who see not just a savings account, but a partner in their financial future.
The question isn’t whether PPSSLS will continue to lead; the question is: will you be part of its journey?
To join or learn more, visit www.ppssls.com.pg—where your savings don’t just grow, it thrives.