Bank South Pacific Financial Group Limited (BSP) and the Institute of Business Studies University (IBSU) have signed an agreement for capability building, collaboration and to support the development of a future-ready workforce for Bank South Pacific (BSP) and Papua New Guinea (PNG). The MOU marks the beginning of a strategic partnership focused on building talent, enhancing capability, and aligning academic outcomes with real-world business needs. As the country’s largest bank and the leading financial institution across the South Pacific, BSP Group Executive – People & Culture, Jonathan Harvey said BSP is committed to investing in its people and the next generation of leaders. “Today is more than a ceremonial moment, it represents a shared commitment between academia and industry to build a stronger, more capable workforce for BSP and Papua New Guinea.” The partnership will focus on three key areas: Internship training and student placement opportunities at BSP for IBSU students to gain hands-on experience in a professional environment, capability-building sessions delivered by BSP staff at IBSU to bridge the gap between academic theory and industry practice and collaboration on curriculum development. "This is not just a student-focused partnership—it is also a capability-building initiative for our staff.” “It is the first of its kind for BSP, opening opportunities for our people to grow as trainers, mentors, and contributors to knowledge and skill building in BSP’s and PNG’s future leaders.” “By combining the strengths of industry and education, we can equip our young people with the mindset, skills, and experience they need to contribute meaningfully to their communities and to the growth of our nation,” Mr Harvey added. IBSU Vice Chancellor, Ramachandran Arunachalam said this partnership highlights the mutual commitment to advancing educational excellence and developing innovation. “Through this partnership, we expect opportunities for our students to gain practical exposure to the financial sector and enhance their employability.” “This milestone represents a strategic alignment of values and vision between academia and industry, and we are confident that this collaboration will create meaningful pathways for improvement, skill development, and real-world engagement.” BSP acknowledged the leadership of IBSU for their shared vision and expressed commitment to a long-term, impactful partnership that supports national development and prosperity across PNG and the Pacific.