Connect with us

Business

Sarvodaya-Fusion and HSBC collaborate to educate Sri Lankan women on Personal Financial Literacy

Published

4 years ago

on

In a concerted attempt to empower Sri Lankan women Sarvodaya-Fusion in partnership with HSBC has launched Personal Financial Literacy Education Programme for women starting June 2021.

“In its essence, financial literacy can be defined as the understanding of how money works and this includes generating, investing, spending, and saving money in ways that ensure a person’s financial stability – an essential life-skill that becomes even more significant in challenging times. This knowledge is the basic building block that enables women to become more independent, and lead more fulfilling, secure lives,” said Stuart Rogers, Interim CEO and Head of Wholesale Banking HSBC Sri Lanka and Maldives.

The ongoing crisis in the country, due to the pandemic has affected both working and non-working women. They are currently forced to manage in an extremely challenging environment with wage gaps and gender inequality. Through this programme, non-working women will be educated and made aware of how to manage their household expenses and look for more avenues to earn an extra income apart from the main income received by their spouse. Similarly, working women will learn how to make their way up the financial ladder, with smart investments and savings. Individuals can visit the Sarvodaya-Fusion Facebook Page for more information on registrations.

“We are excited to partner with a leading global financial entity such as HSBC to educate and enable women of Sri Lanka to take stronger control of their finances. We are convinced that these two key segments of the population should have access to not only financial services, but to recognize themselves as economic agents that can make a change in their families and society through their everyday choices,” said Rohan Pandithakorralage, Chairman, Board of Advisors, Sarvodaya-Fusion.

The engaging Zoom based webinars of one and half hours each cover the main aspects of wise spending, managing debts, earning an extra income, saving as a habit, and making smart investments. The sessions are delivered by utilizing appealing elements such as webinar polls, icebreakers, chats, Q & A sessions and online feedback gathering surveys to ensure maximum engagement and interaction.

“We have seen how financial health has significant ramifications in society, particularly during the pandemic. It’s important for us that we provide women across Sri Lanka with access to the right skills, attitude and tools required to manage their finances and make the most of their money. These carefully crafted webinars dispense the practical knowledge needed by women to manage their money with confidence and, grow their economies,” Rogers continued to state.

Sri Lanka’s adult literacy was 92% in 2018, but the country’s financial literacy rate measures at just 35%. Although this is still the highest out of South Asia, the high print literacy rates do not necessarily correlate to financial savviness. Still, the ability to read and write does provide the basis on which one can build, access and use financial services.

Therefore, it is critical to encourage both working women and non-working women to have a stronger grasp of their finances to benefit themselves, their families and society at large, as well as contribute towards reviving the country’s economy, even at an individual level.  Additionally, basic financial literacy among households can also lead to healthier family welfare. Consequently, improving financial literacy and financial capability among all community segments irrespective of age, sectors, and gender would lead to higher levels of economic wellbeing of the individual, their family and the country at large.

With this ethos, the Personal Financial Literacy initiative was launched by Sarvodaya-Fusion as a corporate social responsibility (CSR) project under HSBC’s Future Skills charity program. Over the past few years, the programme has targeted low-wage workers, undergraduates and entrepreneurs. The initiative aims to provide different sectors in the community with the necessary awareness on handling their finances, ranging from personal financial management to managing business finance.


Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Hemas posts resilient nine-month results

Published

13 hours ago

on

2026/02/11

By

Ashish Chandra, Group Chief Executive Officer

During the quarter, macroeconomic conditions reflected selective cost pressures alongside areas of stability, with a moderated net impact on the Group’s performance.

The Sri Lankan Rupee depreciated by 2.4%, driven by higher import-related foreign exchange outflows and cyclone-related economic disruption. This created some pressure on imported inputs, particularly in Consumer Brands and Healthcare, which was partially mitigated through pricing actions, procurement discipline and cost optimisation initiatives.

Monetary conditions tightened, with the Average Weighted Prime Lending Rate (AWPLR) rising by 89 basis points to 8.94%. The impact on the Group was contained due to its strong balance sheet, negative net gearing and disciplined funding strategy, limiting the effect on finance costs.

Inflation remained low at 2.1%, helping to contain operating cost escalation and preserve consumer affordability. In parallel, softer global palm oil and crude oil prices provided relief on input and energy costs, partially offsetting currency pressures.

In December 2025, the IMF approved US$ 206 million in emergency financing to support Sri Lanka’s cyclone recovery. Sovereign credit ratings were maintained during the period, supporting overall macro stability and business confidence.

Impact from Cyclone Ditwah

Cyclone Ditwah, which struck Sri Lanka on 25 November, was one of the most severe natural disasters experienced by the country in recent decades. The cyclone resulted in an estimated US$ 4.1 billion in direct economic damage—approximately 4% of national GDP—impacting homes, agriculture, infrastructure and livelihoods, with nearly two million people affected nationwide.

The Group’s manufacturing and service facilities did not sustain any direct physical damage, reflecting the effectiveness of proactive preparedness measures and robust business continuity frameworks across our operations. However, in the affected areas, the broader business ecosystems were significantly disrupted due to damage to personal assets, commercial premises, inventory losses, and disruptions to public transportation & logistics infrastructure, adversely impacting our employees, distributors and retail partners, including pharmacies.

These factors led to temporary supply-chain and distribution disruption during November and December, alongside a short-term deterioration in consumer sentiment. As a result, demand softness was observed during the latter part of the third quarter, particularly within the Consumer Brands and Healthcare sectors. Demand has since stabilised, with encouraging recovery trends evident, entering the fourth quarter.

In parallel, the Group mobilised a coordinated, multi-sector disaster response, working closely with government authorities, community organisations and local stakeholders. The Group committed approximately Rs. 30 million in financial and in-kind humanitarian assistance, focused on immediate relief for vulnerable communities. In addition, the Group has factored in Rs. 200 million for targeted support to small and medium enterprises across our value chain through extended credit terms, stock replenishment and business restoration initiatives. (Hemas)

Continue Reading

Business

Aviyana Ceylon chairman Dr. Thisara Hewawasam wins 2025 People’s Award for Business Leadership

Published

13 hours ago

on

2026/02/11

By

By Ifham Nizam

At a time when Sri Lanka is seeking to reposition itself as a premium tourism destination amid economic recovery and declining mass-market margins, Dr. Thisara Hewawasam, Chairman and Founder of Aviyana Ceylon, has been recognised with the 2025 People’s Award – Lifetime Achievement (VIP Category) for his contribution to business leadership and tourism-led economic transformation.

Dr. Hewawasam received the award at the 2025 People’s Awards ceremony held recently in Colombo, in recognition of his role in pioneering Sri Lanka’s first seven-star hotel project, Aviyana Ceylon, and for advancing globally competitive standards within the local hospitality sector.

The award was presented by Vietnam’s Ambassador to Sri Lanka Trinh Thi Tam, along with Parliamentarian Harshana Rajakaruna and Iconic Awards Director Asanka Athapattu, reflecting growing diplomatic and regional attention to Sri Lanka’s private-sector-driven growth narrative.

According to the official citation, the honour recognises Dr. Hewawasam’s leadership as a homegrown entrepreneur who translated long-term vision, discipline and innovation into a hospitality venture designed to compete at the highest international level. His work was acknowledged for strengthening Sri Lanka’s tourism brand while supporting national economic recovery through high-value investment, skills development and employment creation.

Crucially, the citation highlights that Dr. Hewawasam’s contribution extends beyond a single project. By positioning Aviyana Ceylon at the ultra-luxury end of the market, he has helped shift the national tourism conversation away from volume-led growth towards value-based tourism, a model increasingly viewed by policymakers as essential for improving foreign exchange earnings without overburdening infrastructure or natural ecosystems.

Industry analysts note that Sri Lanka’s tourism sector is at an inflection point, where attracting fewer but higher-spending visitors has become a strategic necessity. In this context, flagship developments such as Aviyana Ceylon are seen as confidence signals to international investors, demonstrating that locally led projects can meet global benchmarks in design, service quality and brand ambition.

The People’s Award—conferred only once in a recipient’s lifetime—serves as a public endorsement of leadership that delivers sustained national impact.

In recognising Dr. Hewawasam, the award highlights the growing role of domestic entrepreneurs in shaping Sri Lanka’s post-crisis growth model, particularly in sectors capable of delivering long-term foreign exchange stability.

Continue Reading

Business

Corporate quarterly results continue to snag CSE vibrancy

Published

14 hours ago

on

2026/02/11

By

The CSE commenced on a positive note yesterday but later the All Share Price Index slumped due to corporate quarterly results not reaching expected levels, market analysts said.

Amid those developments both indices indicated mixed reactions. The All Share Price Index went down by 103.17 points, while the S and P SL20 rose by 2.48 points. Turnover stood at Rs 3.55 billion with seven crossings.

Those crossings were: Tokyo Cement 2.58 million shares crossed to the tune of Rs 268 million; its shares traded at Rs 104, ACL Cables one million shares crossed for Rs 100 million; its shares traded at Rs 100, Cargills Ceylon 75000 shares crossed for Rs 54.7 million; its shares traded at Rs 730, LB Finance 302000 shares crossed for Rs 49.5 million; its shares traded at Rs 164, Tokyo Cement (Non-Voting) 570,000 shares crossed for 49 million and its shares traded at Rs 85.90, Seylan Bank 430,000 shares crossed for Rs 47 million; its shares sold at Rs 109.50 and HNB (Non-Voting) 70600 shares crossed for Rs 28 million; its shares traded at Rs 369.

In the retail market top seven companies that mainly contributed to the turnover were; Cargills Rs 206.6 million (283,000 shares traded), Renuka Agri Rs 153.5 million (9.6 million shares traded), ACL Cables Rs 148 million (1.45 million shares traded), Easter Merchants Rs 140 million (8.11 million shares traded), TJ Lanka Rs 109 million (2.8 million shares traded), Ceylon Land and Equity Rs 106 million (4.9 million shares traded) and Colombo Dockyard Rs 76.6 million (517,000 shares traded). During the day 158 million share volumes changed hands in 34681 transactions.

It is said that construction related companies and manufacturing and financial services related companies performed well. Top negative contributors to the ASPI were Senkadagala Finance (down Rs 68.50 at 837), Cargills (Ceylon) (down Rs 21 at 730), and Dialog Axiata (down 60 cents at Rs 32.70).

Yesterday the rupee was quoted at Rs 309.50/55 to the US dollar in the spot market, from Rs 309.43/50 the previous day, dealers said, while bond yields dropped significantly.

A bond maturing on 15.12.2029 was quoted at 9.45/55 percent.

A bond maturing on 15.03.2031 was quoted at 9.82/87 percent.

A bond maturing on 01.10.2032 was quoted at 10.15/20 percent, down from 10.17/21 percent.

A bond maturing on 01.06.2033 was quoted at 10.45/50 percent, down from 10.50/54 percent.

A bond maturing on 01.11.2033 was quoted at 10.60/62 percent.

A bond maturing on 15.06.2034 was quoted at 10.65/70 percent, down from 10.77/81 percent.

A bond maturing on 15.06.2035 was quoted at 10.72/75 percent, down from 10.95/98 percent.

An auction of Rs. 90,000 million Treasury bills is scheduled to take place today and an auction of Rs 51,000 million Treasury bonds tomorrow.

By Hiran H Senewiratne

Continue Reading

Trending