Commemorating 50 Years of Kina and Toea: A Celebration of Identity, Legacy, and Economic Sovereignty

Bank of PNG : Our Past- Our Identity, Our Future: 50th Anniversary to Commemerorate Currency Image Launch and Kina and Toea Day.

In her keynote address on Monday, 28th April, 2025, Governor of the Bank of Papua New Guinea, Ms. Elizabeth Genia, reminded the Nation of Papua New Guinea that the adoption of a National Currency in 1975 was not merely a financial decision, but a cultural and political declaration of true independence. “A Nation’s Currency,” she stated, “is one of its most powerful symbols of sovereignty. It carries the stories of our past, the strength of our present, and the hope of our future.”

Special Feature Submitted by KINA BELO

PORT MORESBY: Papua New Guinea stands at a monumental crossroads in its national journey, celebrating 50 years of independence and the 50th anniversary of its national currency—the Kina and Toea. The launch of the 50th Anniversary Commemorative Currency Image and Kina & Toea Day is more than a ceremonial event; it is a reaffirmation of national identity, cultural pride, and sovereign economic vision.

In her keynote address, Governor of the Bank of Papua New Guinea, Ms. Elizabeth Genia, reminded the nation that the adoption of a national currency in 1975 was not merely a financial decision, but a cultural and political declaration of true independence. “A nation’s currency,” she stated, “is one of its most powerful symbols of sovereignty. It carries the stories of our past, the strength of our present, and the hope of our future.”

The specially designed K50 note and 50 toea coin, launched to mark this historic occasion, reflect PNG’s rich and diverse heritage. Adorned with traditional motifs and national symbols, these commemorative pieces embody the soul of a people whose history predates colonial timelines. They are a celebration of the customs, values, and spiritual wealth that have guided Papua New Guinea through centuries.

At the heart of this celebration is a tribute to two visionary leaders—Sir Julius Chan and Sir Yano Belo—whose leadership in the foundational years of independence laid the groundwork for PNG’s financial sovereignty. Sir Julius Chan, as the architect of the nation’s financial system, played a central role in shaping PNG’s modern economy. Alongside him, Sir Yano Belo, with foresight and cultural conviction, championed the naming of the national currency unit as “Kina,” a name deeply rooted in traditional Melanesian systems of wealth and exchange.

The presence of their sons—Kina and Toea—at the event brought a profound sense of continuity, symbolizing the enduring legacy of PNG’s founding fathers and the responsibility now passed on to the next generation.

Prime Minister Hon. James Marape spoke passionately about the cultural significance of the Kina shell, once used as traditional currency long before the arrival of colonial institutions. He emphasized that independence did not begin in 1975 but was a recognition of an already organized and culturally rich society. The introduction of the Kina and Toea was not simply about monetary change; it was a return to identity and economic self-determination.

As the nation looks ahead, the Bank of Papua New Guinea stands as a pillar of stability and vision. From its humble beginnings in the early days of nationhood to its role today as the guardian of economic policy and currency integrity, BPNG is now tasked with navigating a rapidly changing financial landscape. The next 50 years will demand innovation, digital transformation, financial inclusion, and sustained commitment to cultural relevance.

To honour this legacy and ensure it is preserved for future generations, it is proposed that BPNG partner with Trigger 555 to publish a Decree Statement commemorating the contributions of Sir Yano Belo, the “last man standing” among those who shaped PNG’s financial identity. This publication will not only feature his role in naming the national currency but will also highlight the dual milestones of independence and currency establishment—two powerful symbols of national pride.

The golden jubilee of Papua New Guinea’s independence and currency is a time to reflect, celebrate, and recommit. It is a celebration of the past, a recognition of the present, and a bold declaration of the future. Through the Kina and Toea, we tell the story of who we were, who we are, and who we aspire to become. (ENDS)