Samoa's Prime Minister has urged the Bank South Pacific (BSP) Group to consider opening branches in Australia and New Zealand to service the Pacific diaspora.

Fiamē Naomi Mataʻafa made the appeal in a speech she gave at a BSP customer reception at the Taumeasina Island Resort last Thursday. The Papua New Guinea (PNG)-based BSP Financial Group CEO, Mark Robinson was among the guests at the reception that evening and was on his first visit to Samoa.

In a speech that also welcomed the Group CEO, Fiamē acknowledged the contribution of the bank to Samoa's economy and society and pointed to SAT$53 million in taxes that the bank has totally paid to the Samoa government's coffers over the last eight years. 

"Through these eight years, BSP has provided employment to over 100 individuals each year, it’s harnessed our local talent into governance and leadership roles in Samoa and the region, its contribution to our nation’s economic growth, via the total taxes paid of $53.0 million tala in the last 8 years, as well as its services and creating value to over 67 thousand private households, businesses and organisations," she said.

The Prime Minister also highlighted and commended the bank's independent directors on its board, the localising of its top management positions and the promotion of Samoan nations to the top management of the BSP Financial Group.

"It has also been focusing and supporting the community and its funded projects here in Samoa benefiting many families and communities. We are grateful to corporates and organisations such as BSP for filling in these crucial opportunities in our country.

"I am informed the values of BSP include, integrity, leadership, people, teamwork and community which resonate deeply with the principles we hold dear as a nation. It is a driving force behind our economic progress and the foundation to a prosperous future for our nation. I urge each one of us to do our part."

Pointing to the Samoa government's Finance Sector Plan (FY2020/20212024/2025) and the Pathway for the Development of Samoa (FY2021/2022FY2025/2026), Fiamē said they have shaped and ensured the sustainability of Samoa's economy going forward and emphasised that she believes the BSP Financial Group can play an "important role" in these initiatives.

"Therefore, I encourage BSP to continue embracing innovation and the evolving times. Given your leading market position, BSP’s success is intertwined with the prosperity of our nation, and I have no doubt that, together, we can achieve even greater heights for Samoa and her people.

"Moreover, and as a personal challenge from a leader of a small island developing state, I would like the BSP Group to consider opening branches in New Zealand and Australia. 

"This will open up another potential financial service or avenue for our Pacific diaspora in these two countries as well as assist in servicing correspondent banking relationships for our Pacific financial jurisdictions."

The BSP Financial Group, which is headquartered in the PNG capital Port Moresby, currently serves PNG, Fiji, Solomon Islands, Samoa, Tonga, Cook Islands and Vanuatu in the region as well as Cambodia and Laos in Asia.