Business
LOLC steady with global expansion strategy
LOLC with its robust MSME-based Micro, Small and Medium Enterprises business model is expanding its global footprint with three parallel investments being made in Tajikistan in Central Asia as well as Malawi and Tanzania in East Africa.
LOLC enters Central Asia with its maiden investment in the region through the acquisition of a 75% stake in a company known as Karat, (LLC LTMKh and LLCTMKhL) with a license authorizing them to conduct micro lending and gold loan business in Tajikistan. Tajikistan, with a population of 9.5+Mn people and a lower GDP Per capita of US$859 presents tremendous potential for rolling out the LOLC’s highly successful MSME model that specializes in serving bottom-of- the-pyramid clientele. LOLC will increase its equity stake in the Company to 100% by the year end.
Meanwhile the LOLC Group’s successful microfinance operations in Nigeria and Zambia have provided the impetus for the Group to further deepen its presence in the African continent through strategic acquisitions of two microfinance companies in Malawi and Tanzania. In Malawi, the Group acquired 100% equity stake of Express Credit Limited, while in Tanzania the Group secured a 96% stake of Tujijenge Tanzania Ltd. Malawi with its population of 19+Mn people and low GDP per capita of US$625 and Tanzania with 58+Mn people and GDP per capita of US$1,077, are both deemed to be highly conducive markets for MSME business, thus paving the way for rapid growth and long-term value creation for the Group.
Commenting on the significance of LOLC’s global expansion strategy, Deputy Chairman – Ishara Nanayakkara stated that, “Expanding our microfinance model globally is not only about pursuing our commercial ambition, but doing so in a sustainable and socially responsible manner to deliver tangible benefits to those communities at the bottom-of-the-pyramid, who are often overlooked by the formal financial system. I believe the impact we are creating in Sri Lanka, Cambodia and Myanmar, speaks volumes about how our business model is doing just that. How we are holistically responding to the needs of these communities by promoting financial inclusion, empowering women and reducing socioeconomic disparity, in turn triggers broader economic change. It is this formula which has delivered socioeconomic progress for the community and continues to bring commercial success for the Group, that we are looking to replicate through our global expansion strategy. “
(LOLC)
Business
Private taxi operators at BIA call for speedy rental relief as tourist arrivals dwindle
Private taxi operators at Bandaranaike International Airport are calling for urgent rental relief, stating that they are struggling to sustain operations after paying nearly Rs. 19 million in monthly rental fees amid a sharp decline in tourist arrivals during the off-season.
The operators said tourist arrivals have dropped by nearly 80%, severely affecting their income and making it difficult to continue meeting high operational costs.
“Only a small number of tourists are now arriving at the airport, and a majority of them are being taken by metered taxi operators, who pay only around Rs. 700 per ride as fees to Airport and Aviation Services, an operator said.
According to the operators, the six long-standing private taxi service providers at the airport each pay monthly rentals ranging from approximately Rs. 2.9 million to Rs. 4 million. In addition, they are required to maintain a minimum a fleet of six vehicles along with dedicated airport staff.
“What we are requesting is a temporary reduction in monthly rental payments for around three to four months until tourist arrivals improve and the industry returns to normal, they said.
The operators noted that they have been operating at the airport for more than two decades, providing transport services to both local and international travelers, while metered taxi services entered the airport transport sector only about two years ago.
They also alleged that metered taxi operators have been granted more favourable operating conditions and questioned the process through which those operators were allowed to operate at the airport.
Operators argue that the present financial burden has become unsustainable, given the sharp drop in business volumes and what they describe as an uneven competitive environment within the airport transport system.
“What we are requesting is a 50% reduction in monthly rental fees for a period of at least three months, they said.
They also raised concerns about the quality and condition of some vehicles operated by metered taxi providers.
“Passengers are often unaware of the condition of some of these vehicles until they enter them, which can compromise safety standards, one operator claimed.
In contrast, the private airport taxi operators say they maintain newer vehicles and employ experienced, professionally trained drivers to ensure higher standards of passenger safety and service quality.
The operators warned that failure to address the issue could have wider economic and social consequences. The six service providers collectively employ around 250 staff, and continued financial pressure may lead to job losses and a reduction in organised airport transport services.
By Hiran H Senewiratne
Business
Refurbished AAC Call Box declared open
The operation of Automobile Association of Ceylon(AAC) Call Boxes, in the past had provided yeoman service to many motorists including during the era of British planters. AAC services for members are a motoring security when they travel.
The Call Box in Nuwara Eliya was recently refurbished to provide a better and improved service to the Members in the area and the touring public. Now from this Call Box the motorists could get Road Side Assistance, Valuation Reports, Technical Advice and also issuance of International Driving Permits.

The refurbished Call Box at Nuwara Eliya was declared open by Dhammika Attygalle, President of the Association in the presence of S V Ganesh – Vice President, several Executive Committee members, Puthrasigamani, Life Member of the Association, Eng. C S Samarasekera of RDA- Nuwara Eliya, Devapriya Hettiarachchi, Secretary (AAC) and Eng. C L Liyanasuriya – Chief Engineer(AAC).
The services from the Nuwara Eliya Call Box are available from 8.00am to 5.00pm.
Call Technical Officer Sampath Madagama on 0767315696.
Business
Ceylon Chamber of Commerce to host Sri Lanka Climate Summit 2026
From Risk to Opportunity: Mainstreaming Climate Action into Sri Lanka’s Growth Story
As climate rules tighten globally and investor expectations shift from commitment to compliance, climate action is now directly tied to trade, competitiveness, and access to finance. Against this backdrop, The Ceylon Chamber of Commerce will host the second edition of the Sri Lanka Climate Summit on 9 June 2026 at the Taj Samudra Hotel, convening policymakers, industry leaders, financiers, and technical experts to focus on pathways for integrating climate action into Sri Lanka’s growth story.
Held as a biennial platform, the Summit returns this year under the theme “From Risk to Opportunity: Mainstreaming Climate Action into Sri Lanka’s Growth Story.” While the inaugural edition in 2024 focused on building awareness and advocacy, the 2026 Summit shifts the conversation toward implementation, technical readiness, and compliance as climate-related obligations begin to directly influence access to markets, finance, and investment.
Rather than treating sustainability as a standalone agenda, this year’s discussions will explore how climate considerations are becoming embedded across core areas of business and economic decision-making, from infrastructure and trade to finance, governance, digitalisation, agriculture, and supply chains.
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