Business
LAN and Ladies’ College partner for the school’s ‘Building Future Leaders’ program
The Lankan Angel Network (LAN) recently partnered with Ladies’ College, Colombo for the school’s innovative “Building Future Leaders” program. This is Sri Lanka’s first structured initiative to bring in corporate leaders, business professionals, and partners from various industry and corporate bodies, to share their experience and impart important skills which will enable the future success of these secondary school students who are at a pivotal point in their lives.
Initiated and driven by Ladies’ College Colombo, with LAN providing access to its network and expertise; “Building Future Leaders” highlights the importance of a holistic education and life skills, along with business networking, to better educate students about the new horizons available to them in terms of career opportunities within both traditional and non-traditional fields.
LAN, in collaboration with its distinguished partners Ceylon Chamber of Commerce (CCC), American Chamber of Commerce in Sri Lanka (AMCHAM), Great Places to Work (GPTW), AICPA & CIMA, additionally delivered mentoring and professional support, including offering up some highly sought after speakers, for this program.
“Shaping our future is best achieved by giving our young students every opportunity to redefine their lives by equipping them to make passionate and unique contributions that rely on creativity, courage, confidence and integrity,” opined Ms. Deepika Dassanaike, Principal of Ladies’ College Colombo. She also noted; “The ‘Building Future Leaders’ program at Ladies’ College is proving to be invaluable since it not only encourages our students to ruminate on their true potential, but it also enlightens them to a number of futuristic career paths.
Beyond that, our students have also been emboldened as a result of the program bringing in a variety of inspiring and highly successful Sri Lankan leaders from multiple fields. We are not just helping them prepare for a bright and constructive future ahead, but also equipping them with both professional and entrepreneurial skills; making their overall education prior to leaving school a truly holistic, all-encompassing experience.”
Professor Malik Ranasinghe, Chairperson of People Development Committee of Ceylon Chamber of Commerce commenting on the program said, “We are passionate about building an employable pool of future talent in Sri Lanka and we are positive that this change must start in an early stage and hence this program was initiated”.
Positive feedback about the program piloted at Ladies’ College Colombo has given LAN and its partners the confidence to explore deploying this holistic career development program at other secondary schools. Attempts to further integrate programs like these into the national school curriculums, at earlier levels, will help build the foundations of leadership into Sri Lankan society. It is also hoped that such programs will prove critical for children to experience first-hand the many different varieties of career opportunities available to them, paving the way for a brighter future. And by pushing for its adoption within the national educational system in the near future, these initiatives will help ensure that no child is left behind due to a lack of opportunity.
Commenting on the “Building Future Leaders” program, LAN Chairperson & Axiata Digital Labs Chief Peoples Officer Ms. Chandi Dharmaratne emphasized the program’s focus on holistic education, as well as its offered invaluable exposure to industry experts and leaders. “We celebrate the success of the Building Future Leaders program at Ladies College Colombo, spearheaded by Professor Malik Ranasinghe – Ceylon Chamber of Commerce and the Lankan Angel Network. This initiative has provided students with the unique opportunity to explore various industries, professions, competencies, and skills, allowing them to make informed decisions about their future pursuits. Through interactive sessions and expert-led discussions, the program has equipped students with valuable insights and networking opportunities, empowering them to confidently embark on their chosen paths.”
Ms. Dharmaratne further highlighted the program’s focus on networking and fostering connections, empowering students to become well-informed about industry requirements. And she also added that by developing essential skills and competencies necessary to overcome entry barriers in their chosen fields, the program has laid a strong foundation for students’ professional journeys with a bright promise for their future.
A platform for angel and private investors who invest in high-growth early-stage Sri Lankan ventures with the goal of creating an impact by reducing inequality, LAN, in addition to being led by a woman, features four other female board members and patrons, which is significantly more than in other Sri Lankan corporates. Supporting trailblazing programs such as the “Building Future Leaders” series, at Ladies’ College Colombo, strongly aligns with LAN’s own ongoing commitment to empowering Sri Lanka’s Women Entrepreneurs.
“It was truly a privilege and honour to work with Ms. Chandi Dharmaratne who, upon our invitation, has brought to this program a vision, as well as the involvement of a high calibre of professionals, that have inspired our girls,” said Ms. Taanya Tranchell, Career Guidance Counsellor at Ladies’ College Colombo.
Additionally, she commented; “I am also deeply grateful to Ms. Thinushka Gunasekara who came onboard to support this project and worked hard to give our students this opportunity. At a time when young people have to really work hard to find their way in the world, the knowledge and exposure the ‘Building Future Leaders’ program gave them is definitely a huge boost to their future! I hope many more schools will introduce this program as a catalyst to enriching their students with key life skills and knowledge before releasing them into the world!”
Recommends prudent policy choices and regional collaboration
The Asian Development Bank (ADB) has highlighted Sri Lanka’s economic recovery as exceeding initial expectations in its Asian Development Outlook April 2025 report, but cautioned that the rebound remains fragile, with significant risks posed by global trade tensions, fiscal pressures, and unresolved debt vulnerabilities.
The following are some key highlights from the report:
Sri Lanka’s economy is projected to grow at a moderate pace in 2025–2026, driven by broad-based improvements. However, domestic demand is expected to stay sluggish, reflecting lingering challenges from the country’s recent economic crisis. While fiscal consolidation efforts remain on track bolstered by stronger-than-anticipated revenue. With that said, however, the ADB warned that under-execution of capital spending or a loss of reform momentum could derail progress.
Takafumi Kadono, ADB Country Director for Sri Lanka, brings profound expertise in both macro and microeconomic dynamics, steering transformative development support tailored to Sri Lanka’s evolving needs
After a period of deflation, Sri Lanka’s inflation is forecast to rise in 2025 due to higher electricity tariffs, relaxed import restrictions, wage hikes, and exchange rate depreciation. The government’s commitment to fiscal discipline faces pressure from potential expenditure increases, even as external debt interest payments resume, pushing the current account into deficit.
The ADB’s analysis of new US tariffs, identifies Sri Lanka as vulnerable to trade disruptions. Key risks include:
Sri Lankan exporters, particularly in sectors with thin profit margins, face order cancellations and profit losses.
Competitors like India, Malaysia, and Mexico—benefiting from lower US tariffs—could attract investment away from Sri Lanka.
Full implementation of tariffs could slash GDP growth by depressing exports, manufacturing, and investor confidence, while raising unemployment and fiscal strains.
To mitigate risks, the ADB urges Sri Lanka to diversify export markets and products. Opportunities include expanding into niche EU markets and Asian regional partners, as well as boosting high-value sectors like electronics. Strengthening regional cooperation and accelerating structural reforms could enhance resilience.
Despite progress under its IMF program, Sri Lanka’s debt burden remains “high,” requiring sustained reforms to stabilise public finances. The ADB emphasised that fiscal reversals or delays in restructuring could undermine macroeconomic stability.
While South Asia remains the fastest growing subregion fueled by India’s robust domestic demand, Sri Lanka’s trajectory is distinct, marked by post-crisis recovery challenges. Developing Asia’s overall growth is moderating due to US-China trade tensions and China’s property sector woes, further complicating Sri Lanka’s external environment.
“Sri Lanka’s recovery is commendable but incomplete,” the report states. “Accelerating reforms, safeguarding fiscal discipline, and diversifying trade partnerships are critical to navigating global headwinds and ensuring long-term stability.”
As Sri Lanka balances optimism with fragility, the ADB’s outlook underscores the urgency of maintaining reform momentum while preparing for escalating external risks. The path to sustained recovery, concludes, hinges on prudent policy choices and regional collaboration.
By Sanath Nanayakkare
Business
HOPPR Unveiled: PayMaster’s latest innovation that transforms ride-hailing and digital credit access
PayMaster, the leading, award-winning digital payments app in Sri Lanka, has announced its launch of HOPPR, a cutting-edge ride-hailing feature that will transform the market by providing all stakeholders from drivers and customers with financial independence through digital payments and credit access. More than just a ride-hailing service, HOPPR is a tool for financial empowerment that works in unison with PayMaster to allow users to schedule rides without using cash and to open up long-term revenue streams.
A sustainable revenue strategy is established by its unique referral system, which allows drivers to receive lifetime earnings for each user referred, emphasizing that both passengers and drivers are not just participants but valued stakeholders of the platform. Additionally, CREDDY, an AI-powered credit system that acknowledges informal income streams, is connected with HOPPR where drivers can obtain revolving credit of up to Rs.50,000 at 0% interest through CREDDY for everyday expenses, fuel, and vehicle repairs, assisting in closing gaps in their finances and fostering financial stability.
Ransika De Silva, Director/CEO of PayMaster, stated, “With HOPPR, we have built a driver-centric system where each ride is an opportunity to earn, save, and grow financially rather than just a journey. We are changing the financial landscape for gig workers and informal earners, starting with ride-hailing, digital payments, credit access and future expansion into areas for informal income.”
PayMaster is a one-stop app for payments that makes transactions in Sri Lanka easy. From local money transfers, receiving money from around the globe to a local account within two seconds, paying bills, and topping up mobile accounts, users can now also use ride-hailing services thanks to HOPPR. PayMaster, a fully owned subsidiary of Singapore-based FinTech FirstPay (Pte) Ltd, guarantees the highest international security standards by following the criteria for mobile apps from the Central Bank of Sri Lanka (CBSL) and submitting to frequent security assessments conducted by a globally reputed auditing firm.
The CSE opened yesterday in a bullish manner after US President Donald Trump announced a 90-day pause on enforcing increased tariffs on exports.
President Trump said he is ordering a pause on ‘reciprocal’ tariffs slammed on Sri Lanka and other countries after 75 countries offered to negotiate, amid a collapse of stock markets, but a 10 percent tax would remain. Many stock markets around the world were back in the green.
The All Share Price Index was trading up on 693 points within the first half hour of opening and the more liquid S&P SL20 was up 6.42%, or 286 points, at 4,632.00.
Turnover was Rs 6.1 billion with ten crossings. Those crossings were reported in JKH which crossed 30.7 million shares to the tune of Rs 607 million and its shares traded at Rs 20.10, Sampath Bank 3.7 million shares crossed for Rs 419 million; its shares traded at Rs 150, Commercial Bank 2.2 million shares crossed for Rs 151 million; its shares traded at Rs 125.
Singer (Sri Lanka) 1.5 million shares crossed for Rs 52.5 million; its shares traded at Rs 35, Vidul Lanka 3.7 million shares crossed for Rs 49.4 million; its shares traded at Rs 13.50, People’ Leasing 2 million shares crossed to the tune of Rs 35 million; its shares sold at Rs 2.70, HNB 100,000 shares crossed to the tune of Rs 30.5 million, Hemas Holdings 210,000 shares crossed for Rs 23.4 million; its shares traded at Rs 117, LMF 500,000 shares crossed to the tune of Rs 21.4 million; its shares fetched Rs 42.70 and DFCC 200,000 shares crossed to the tune of Rs 20 million; its shares traded at Rs 100.
In the retail market top six companies that have mainly contributed to the turnover were; Sampath Bank Rs 709 million (6.2 million shares traded), Commercial Bank Rs 626 million (4.4 million shares traded), HNB Rs 619 million (two million shares traded), JKH Rs 346 million (three million shares traded), RIL Properties Rs 164 million (10.3 million shares traded) and Brown’s Investments Rs 161 million (22.1 million shares traded).During the day 212 million shares volumes changed hands in 23287 transactions.
Yesterday, US dollar buying rate was Rs 297.50, while the selling rate was Rs 298.60.
By Hiran H Senewiratne
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