Business
ADB supports Sri Lanka to boost female entrepreneurship, officiates national rollout of WE Finance Code
In a landmark move to dismantle barriers for women entrepreneurs, Sri Lanka nationally adopted the Women Entrepreneurs Finance Code (WE Finance Code) in collaboration with Asian Development Bank (ADB) in Colombo on March 18.
The Code which is a global framework to drive gender-inclusive economic growth was launched at a high-profile ceremony in Colombo, where ADB Country Director Takafumi Kadono underscored the transformative power of investing in women-led businesses, spotlighting Pradeepa Nilanthi, a handbag entrepreneur from Monaragala, as a symbol of resilience and progress.
Kadono anchored his keynote speech in the story of Pradeepa, who in 2014 launched her handbag business with modest means. In 2019, she accessed a loan and grant through ADB’s Women Entrepreneurs Finance Initiative (We-Fi), enabling her to double daily production from 2,500 to 5,000 bags and employ 14 women in her community.
“Women entrepreneurs like Pradeepa are not just business owners—they are job creators, innovators, and pillars of resilience,” Kadono declared, drawing attention from policymakers and financial leaders.
The newly adopted WE Finance Code commits Sri Lanka to support women-owned businesses by standardizing data collection to tailor policies and sex-disaggregated reporting mandated by the Central Bank for financial institutions to track gender gaps.
ADB Country Director Takafumi Kadono
“This Code isn’t just about data—it’s about leadership and action,” Kadono stressed, applauding 13 financial institutions that signed as inaugural champions in developing loans and services targeting women’s needs.
With Sri Lanka’s female labour force participation stagnating near 30%, Kadono argued that empowering women entrepreneurs is a national economic imperative. “When women hire, they hire women. So, investing in them creates a multiplier effect,” he noted,
While celebrating the Code’s adoption, Kadono cautioned that the “real journey begins now,” and called for annual public reporting on gender-disaggregated data, innovative financial products and gender-responsive policies that can better support women entrepreneurs to thrive.
In 2018, ADB introduced the We-Fi programme, mobilising a grant of $12.5 million, focusing on blended finance through partner banks to increase women entrepreneurs’ access to finance. This was complemented by technical assistance to strengthen policymaking for women entrepreneurs, and to provide financial skills training for women entrepreneurs. Through this ADB We-Fi programme, over 1,500 women-owned SMEs have had access to finance, and 620 have had access to financial skills training. Further, the SME Connect platform initiated under the We-Fi program is enabling a larger number of women entrepreneurs to access information and trainings online and creating opportunities for networking and mentoring. These investments in women-owned businesses have proven to have had both strong financial as well as social impacts, that go beyond the businesses.
By Sanath Nanayakkare
In a world where every strong cuppa tells a unique story, Sri Lanka’s famed Ceylon Tea continues to carve its legacy – one cup at a time. The latest tea export figures for March 2025 reveal a tale of resilience, with total shipments rising to 23.43 million kilograms, up from 21.25 million kgs the previous year.
But the real headline is; Libya’s staggering 416% surge in Ceylon Tea imports – marking a bold new chapter in Sri Lanka’s tea trade. While traditional markets like Iraq and Russia held steady, Libya emerged as the ‘breakout star’, importing 5.31 million kgs in the first quarter of 2025 – a jaw-dropping leap from just 1.03 million kgs in 2024.
This explosive growth signals a burgeoning demand for Sri Lanka’s premium leaves in North Africa, where the rich, aromatic flavors of Ceylon Tea are winning hearts and palates.
Quadrupling Libya’s appetite for Ceylon Tea even in challenging global markets, is reflecting the fact that Sri Lanka’s tea can find loyal fans in evolving markets.
However, while the export values shine in USD terms, the rupee value of tea exports dipped slightly – a stark reminder of currency fluctuations impacting export earnings. Yet, the broader trend remains positive for Ceylon Tea, with cumulative exports for Q1 2025 reaching 63.21 million kgs, up from 62.33 million kgs last year.
Key markets like Iraq (+7%) and Chile (+41%) showed strong growth, while Russia and the UAE saw mild declines. Meanwhile, Tea Bags and Instant Tea have posted gains even in rupee terms – marking a bright spot in an otherwise mixed landscape, where Tea in Bulk and Green Tea segments have witnessed a decline against the same period of the previous year.
On the production front, tea production for the month of March 2025 totalled 24.43 M/Kgs, showing an increase of 4.86 M/Kgs vis-à-vis 19.57 M/Kgs of March 2024. All elevations showed an increase in comparison with the corresponding month of 2024.
“As Sri Lanka’s tea industry navigates global headwinds, the increase in production and Libya’s soaring demand could offer a breather,” analysts said.
(Source: Forbes & Walker Pvt Ltd, Sri Lanka Customs, Central Bank of Sri Lanka)
By Sanath Nanayakkare
Photo Credit: Sri Lanka Executive Aviation Services
In a groundbreaking collaboration set to transform Sri Lanka’s premium coffee landscape, Fits Retail has partnered with retail giant Abans PLC to showcase the iconic DeLonghi coffee machines at two of Colombo’s most prestigious locations: Abans Elite Colombo 3 and Abans Havelock City Mall showrooms.
This exclusive partnership presents a rare opportunity for coffee aficionados to experience firsthand why DeLonghi has become synonymous with coffee perfection worldwide.
With a heritage spanning over 100 years, DeLonghi proudly holds the title as the number one coffee machine brand in more than 46 countries, celebrated globally for its exceptional quality, innovation, and unrivaled Italian craftsmanship. Fits Retail’s collaboration with Abans PLC brings these legendary machines directly to Sri Lankan coffee enthusiasts, creating immersive experience zones designed to elevate everyday coffee moments into extraordinary rituals.
At these dedicated demonstration zones, visitors can discover the unparalleled precision engineering and user-friendly technology that have made DeLonghi machines the preferred choice for discerning coffee lovers in more than 46 countries worldwide.
Business
Ceyline Group and Lion Brewery Forge a Sustainable Future with Eco-Friendly Warehousing and Distribution.
Ceyline Total Solutions, the end-to-end logistic solutions provider of Sri Lanka’s leading maritime and logistics group Ceyline, has built Lion Brewery’s first sustainability-focused warehousing and distribution center in just 100 days.
Located in Tangalle, the facility reflects a strong commitment to environmental responsibility. Half of the structure is made from repurposed shipping containers, reducing both waste and carbon emissions. The project, executed by Ceyline’s brand for sustainable living spaces “Out of the Box” features interior fittings made from recycled and reused brewery waste materials, maximizing sustainability and cost efficiency. Ceyline also has already applied for CEB approval to install solar power for the facility to ensure its operation is powered by clean and green energy.
Lion Brewery will further its mission for an efficient and eco-friendly supply chain by incorporating elements such as electric forklifts, rainwater harvesting, and energy-efficient lighting.
This collaboration not only delivers a pioneering green logistics facility but also sets a new benchmark for sustainable warehousing in Sri Lanka. It showcases the power of collaborative innovation in driving responsible industrial development.
Kaveen Gayathma, Senior Vice President (Outbound Logistics) of Lion Brewery, added, “This project further strengthens our distinctive ‘route-to-market’ approach. Our collective efforts in conceptualizing,
drafting, and crafting have culminated in the creation of a truly one-of-a-kind model. The company’s unwavering commitment to environmental stewardship and sustainability is clearly demonstrated here, all while achieving our strategic objectives in a practical and cost-effective manner.”
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