Business
The Coca-Cola Foundation strengthens water resilience and local livelihoods through reservoir renovation in Batticaloa
The Coca-Cola Foundation, through a grant to its implementing partner We Effect, has unveiled its latest project fortifying its commitment to sustainable water management in Sri Lanka, through the successful renovation of three vital reservoirs located in the Batticaloa District. The inauguration ceremony of the three rehabilitated reservoirs, Thikkanai Kulam, Manikkam Kulam, and Thamarai Kulam was held on the 12th of October 2023, and graced by the presence of dignitaries from the local government and community members.
The transformative project, “Our Actions Our Future,” spanning over two years since its inauguration in 2021, centers on water replenishment, women empowerment, and waste management. Its primary aim is to ensure access to agrarian water supply for over 1,700 marginalized families in the Batticaloa region. Aligning with this central aim, the refurbishment resulted in a cumulative increase of 533,400 cubic meters in storage capacity across the three reservoirs, Thikkanai Kulam, Manikkam Kulam, and Thamarai Kulam.
Additionally, this project promotes women leadership through a cooperative approach, with notable results including strengthened farmers’ primary cooperatives for collective actions, increased access to agrarian water through three renovated water reservoirs, ensured access to a clean and safe drinking water facility for over 1,000 families, women entrepreneurship development with increased economic opportunities, and improved waste management practices in the selected communities.
Special Guest, Additional Government Agent – Batticaloa, Sutharsini Srikanth, commended the initiative and urged corporates to adopt similar visions and strategies. “Today, we mark a significant step towards a sustainable future, perfectly aligned with our nation’s vision for sustainable development. The Coca-Cola Foundation’s commitment to fortifying water resilience and local livelihoods through the renovation of these reservoirs mirrors our dedication to sustainable progress. I extend my heartfelt gratitude to We Effect, AHAM, and The Coca-Cola Foundation for their unwavering commitment to this cause. Let us draw inspiration from their exemplary collaboration and encourage others to also join in shaping a sustainable and prosperous future for all”, she stated.
Resonating their thoughts, Nina Larrea, Regional Director Asia at We Effect, emphasized the impact of this project: “Our collaboration with The Coca-Cola Foundation has been a driving force for positive change, both in the past and now, as we witness its profound impact in the Batticaloa region. This initiative has led to the strengthening of cooperatives, better access to water, and increased opportunities for women entrepreneurs. It serves as a powerful testament to the remarkable achievements that arise when organizations unite for a sustainable future.”
In collaboration with partners ACTED and We Effect, The Coca-Cola Foundation has initiated impactful water stewardship projects in Sri Lanka. ACTED and The Coca-Cola Foundation worked together in October 2018 to restore the Samurdhi Tank in Galahitiya village, Monaragala District. This project improved irrigation access for approximately 400 households and 1,700 local farmers, opening up around 250 acres of farmland for year-round cultivation, particularly benefiting local women farmers. In the same year, We Effect, with a grant from The Coca-Cola Foundation, reconstructed and refurbished the Thammannawa and Elpathwewa Water Reservoirs in Anuradhapura. This effort not only increased water availability and quality but also empowered women in Thammannawa village. The result was a doubling of agricultural output over 180 acres, higher income, and an improved quality of life for local communities.
Business
Seven Acts under the subject of institutions implemented under the Ministry of Industry and Entrepreneurship Development to be amended
The Cabinet of Ministers has approved the joint proposal presented by the Minister of Industry and Entrepreneurship Development to include the aforesaid amendments of the Acts to the Legal Compilation Program of the government in the year 2025 for the amendment of the following Acts.
• National Gem and Jewellery Authority Act, No. 50 of 1993.
• Technical Development Act No. 36 of 1969
• Sri Lanka institute of textile and apparel Act, no. 12 of 2009
• Sri Lanka Export. Development Act, No. 40 of 1979
• National Enterprise Development Authority Act No. 17 of 2006 and National Enterprise Development Authority Act No.18 of 2014 (Amendment)
• National Crafts Council and Allied Institutions Act No. 35 of 1982
• National Crafts Council and Allied Institutions Act No.4 of 1996 (Special Provisions)
[It has been planned to amend the above acts that come under the subject of institutions implemented under the Ministry of Industry and Entrepreneurship Development this year to create a strong and suitable institutional framework to expedite economic conversion in Sri Lanka]
The Global Franchise Forum 2025, held at the Sheraton Hotel in Colombo recently was seen by dignitaries present as delivering significant benefits to Sri Lanka’s economy, entrepreneurs and the country’s global standing. Gaurav Marya, chairman, Franchise India Group, complimenting the event said, among other things, that the event was a ‘meeting of minds, markets and opportunities’.
The event attracted global brands, investors and business leaders, connecting them with Sri Lanka’s entrepreneurial community and was seen as laying the groundwork for long-term economic growth and collaboration.
Gaurav Marya, further said:
“We are thrilled to see such an enthusiastic and relevant audience in Sri Lanka. The energy in the room reflected the hunger for growth and the readiness of Sri Lanka’s entrepreneurs to embrace global brands and scale with purpose.”
Knowledgeable observers added: ‘Franchising offers a tested pathway for small and medium enterprises (SMEs) to grow sustainably. Through partnerships with established global brands, Sri Lankan entrepreneurs now have better access to proven business models, reducing startup risks and improving scalability. This promises to generate significant employment opportunities in sectors like hospitality, healthcare, retail, and education, thereby strengthening the social and economic fabric of the country.
“The forum also helped reinforce Sri Lanka’s strategic position as a gateway to South Asia. Highlighting the country’s growing consumer base, skilled workforce and improving business environment, the event attracted international attention, signaling Sri Lanka’s readiness to play a larger role in regional trade and investment flows.
“Support from respected organizations—including the Indo-Lanka Chamber of Commerce, ICC Sri Lanka, and FCCISL—helped foster new partnerships and cross-border collaboration opportunities. By encouraging foreign investment and knowledge-sharing, the forum is set to help Sri Lankan businesses become more competitive regionally and globally.
“Panels, workshops, and one-on-one business meetings equipped attendees with vital knowledge about franchising strategies and global business practices. The presence of industry experts offered Sri Lankan entrepreneurs valuable tools for success, promoting a culture of innovation and strategic growth.”
Reflecting on the broader significance of the event, Gaurav Marya added,
“Sri Lanka is clearly moving toward economic recovery. Despite global headwinds, including recent trade policy shifts, the Global Franchise Forum 2025 Sri Lanka Edition has helped catalyze timely conversations and build sustainable partnerships that support long-term economic development and resilience.”
By Ifham Nizam
National Savings Bank (NSB) announces the appointment of Ajith Akmeemana as the Chief Financial Officer (CFO), effective immediately.
Ajith Akmeemana has nearly 35 years of experience in the financial services industry driving financial strategies and ensuring sustainable organizational growth and profitability.
He brings extensive experience in corporate planning, asset-liability management, treasury management and corporate finance activities, complemented by C-suit leadership roles at Nations Trust Bank and Bank of Maldives. His career commenced at Standard Chartered Bank, Sri Lanka, and includes a strong foundation in audit and advisory services at Ernest & Young.
Akmeemana is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka and holds an MBA from the University of Manchester, UK. He is also a Graduate Member of the Sri Lanka Institute of Directors and an Associate Member of the Institute of Bankers of Sri Lanka.
Commenting on his appointment, Akmeemana said, “It is an honor to join National Savings Bank, an institution with a strong legacy and an essential role in Sri Lanka’s financial sector. I look forward to supporting NSB’s mission and contributing to its continued growth and success.”
The Chairman, Board of Directors, GM/CEO, and the entire NSB team warmly welcome Akmeemana and are confident in his ability to lead the Bank’s financial operations in alignment with its strategic direction.
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