Navigating Todays Business Landscape
Shells, significantly the Kina and Toea, were not solely mediums of commerce but also symbols of wealth, social status, and cultural practices. “Deeply embedded in our traditions and cultural practices, shell cash also represented social status, and it was utilized in marriages, deaths, and other important ceremonies and occasions,” Genia explained. The arrival of colonisers marked a turning point in the nation’s economic history Business News, leading to the introduction of contemporary currencies on 19 April 1975. “These modern currencies served as both economic devices and national emblems of our independence and unity as a nation,” Genia noted. She provided insights into the cultural significance of the Kina and Toea, explaining that the word “Kina” is found in both the Pidgin and Kuanua languages and describes the priceless pearl shell extensively traded in PNG’s Highlands and Coastal areas.
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The Bank of Papua New Guinea formally launched the Kina and Toea Exhibition, a show celebrating the nation’s wealthy economic historical past and the fiftieth anniversary of Papua New Guinea’s forex. This occasion, held as part of the Bank’s 50th anniversary celebrations, coincides with the upcoming 50th anniversary of PNG’s independence in 2025. The Kina and Toea Exhibition was launched on 29 August and continued from 30 August to 6 September 2024 at the National Museum & Art Gallery in Port Moresby. The exhibition supplied a chance to explore the fascinating historical past of PNG foreign money and its unique place in the nation’s growth.