Connect with us

Business

SL’s IT/BPM industry targets USD 5 bn. Exports by 2025

Published

on

Careers bridge launched to create more opportunities for youth

The Sri Lanka Association for Software Services Companies (SLASSCOM), the apex body representing the IT/BPM Industry, officially relaunched its Future Careers Bridge (FCB) website recently. The 2.0 version of the FCB platform comes with a range of new features and an improved user experience as part of its plans to attract more Sri Lankan youth to join the ICT sector, a news release said.

The event, held at Cinnamon Grand Colombo, was attended by Trine Jøranli Eskedal – Norwegian Ambassador to Sri Lanka, Debra Mosel – Deputy Mission Director USAID Sri Lanka and Maldives and representatives from SLASSCOM, USAID, Royal Norwegian Embassy, YouLead and key industry sectors including ICT and higher education, it added. The releaded explained Sri Lanka’s IT/BPM industry is pushing to cross USD 5 billion in export revenue by 2025. The industry is, however, facing a skills shortage due to the limited number of IT graduates emerging out of the local education system.

“One of the primary objectives of SLASSCOM is to identify, enable and develop ready and employable talent in the industry. The revamped SLASSCOM FCB platform allows students to complete online challenges under diverse IT career paths, build a profile based on their performance and compete on the FCB Leader boards,” it said.

“Students can also find mentors and request assistance from industry experts through FCB. Top-performing students will be selected for interviews by partner companies and provided with internship opportunities.”

 FCB was created in 2019 to channel school leavers who lacked graduate-level qualifications but were interested in joining the sector to find employment in the IT/BPM industry. The platform was developed with the support of USAID’s youth employment and entrepreneurship project YouLead, along with the Royal Norwegian Embassy as Project Partner, HCL Lanka and Dialog Axiata PLC as Corporate Sponsors, and through the voluntary contribution of ideas, support, and expertise from over 50 IT/BPM companies in Sri Lanka.

 “Even with the IT/BPM industry on track to become Sri Lanka’s number one export revenue contributor, the sector grapples with recruiting skilled graduates into the ecosystem. This has become a primary reason for slowing our growth momentum. With FCB 2.0, SLASSCOM has built a pathway for Sri Lanka’s talented youth to hone their skills further and to be employed by best IT/BPM companies in the country to pursue their dream career in a sector that has a significant global presence,” said Ashique M. Ali, Chairman of SLASSCOM and Director at Talliance.

“On behalf of SLASSCOM, I thank all the sponsors and volunteers who have made this platform a reality.”

 SLASSCOM FCB allows public and private educational institutions, including universities and tertiary educational institutes, to enable their students to manage and track their learning and career progress. This will add further value to the platform. The platform has also enlisted 15 of Sri Lanka’s leading IT/BPM companies as SLASSCOM FCB Partners. They will support training and employment opportunities for youth emerging through the program. The vision of SLASSCOM is to provide all companies in Sri Lanka access to FC Bridge for their youth talent recruitment.

“The technology industry is one of the fastest growing industries in the world. As many governments and companies move forward to digitize their businesses, there is an evident shortage of global talent which opens up many opportunities. In this context, the new Future Careers Bridge platform launched by SLASSCOM is significant as it will open new paths in ICT careers for many Sri Lankans, particularly for the youth,” said Trine Eskedal, Norwegian Ambassador to Sri Lanka.

Debra Mosel, Deputy Mission Director USAID Sri Lanka and Maldives, said, “It is a great milestone today to launch Future Careers Bridge 2.0, which opens up more training and learning opportunities for Sri Lankan youth in the ICT sector. I am also delighted that almost half of the users registered to the programme are women.

“Supporting young women who choose a career in ICT is not just good for them and their families. It is a major accelerator of the socio-economic development of Sri Lanka. As the world faces a major skill shortfall in the ICT sector, we should equip and inspire young women with the skills they need to become ICT professionals. Strong women leaders are critical in helping women access the ICT sector’s rich employment and leadership opportunities.”

Arjuna Nanayakkara, Director of SLASSCOM, CEO at GTN Technologies and Head of Shared Service at GTN Group, said, “A platform like Future Careers Bridge allows Sri Lankan youth to join the global ICT industry. It will infuse better-prepared graduates into the industry as FCB 2.0 enables them through well-curated coursework and soft skill training modules.

“Furthermore, the Capacity Forum at SLASSCOM provides additional complementary learning solutions to FCB 2.0 so that local ICT companies able to attract skilled talent. To make this a tremendous success, numerous stakeholders have helped. With their assistance, this has today become a national success story. This is the way forward. I also believe this is a great case study for all corporates in the country to make a paradigm shift in how they recruit talent and build competencies when giving career opportunities for graduates.”

SLASSCOM has been the catalyst of growth for the Sri Lankan IT and BPM industry by facilitating investments and market access, talent development and employment, encouraging research and innovation, promoting ESG best practices, and supporting the creation of a forward-thinking and progressive national policy. SLASSCOM’s membership comprises over 420 member companies, encompassing an employee base of 115,000+ people. It accounts for approximately 90% of the export revenue of Sri Lanka’s IT/BPM industry.



Continue Reading
Click to comment

Leave a Reply

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

Business

Embedding human rights, equity and integrity into business leadership

Published

on

Rathika de Silva, Executive Director

At its 2026 Social Sustainability Programme Kick-Off, the UN Global Compact Network Sri Lanka convened business leaders to advance the translation of global ambition into practical corporate action on inclusion, integrity and human rights.

On 24 February 2026, the UN Global Compact Network Sri Lanka (Network Sri Lanka) convened business leaders at Barefoot Garden Café for its 2026 Social Sustainability Programme Kick-Off, delivered in collaboration with Good Life X.

The gathering did more than introduce a calendar of events. It positioned Sri Lanka’s corporate community within the broader direction of the UN Global Compact’s 2026–2030 global strategy — a strategy anchored in three imperatives: equipping companies to act, catalyzing collective action, and advancing the business case for responsible leadership.

At its core, the 2026 Social Sustainability agenda is designed to move companies from commitment to capability.

Within the Diversity & Inclusion Working Group, this means building practical pathways toward equal pay for equal work and strengthening male allyship as a governance issue rather than a cultural afterthought. It means examining sexual and reproductive health, disability inclusion, and mental health not as employee benefits, but as structural determinants of productivity and retention. It means sharpening strategic communications so inclusion is embedded in brand integrity. It also means applying science-based behavioural change approaches to shift organizational culture in measurable ways.

Across the Business & Human Rights Working Group, equipping companies takes the form of deepened engagement on decent work and living wage implementation, strengthening human rights due diligence processes, and addressing emerging risk areas such as AI and digital rights. It extends to reinforcing business integrity and anti-corruption frameworks, understanding the social dimensions of a just transition, and recognizing the link between child rights, nutrition, and workforce productivity.

Continue Reading

Business

Union Bank to raise LKR 3 Bn via Basel III Compliant Debenture Issue

Published

on

Shanka Abeywardene

Union Bank of Colombo PLC announced its proposed Debenture Issue 2026, a strategic move aimed at raising up to LKR 3 billion. This issue is designed to bolster the Bank’s Tier II capital base and provide a robust financial foundation for its upcoming growth initiatives.

The offering consists of Basel III compliant, listed, rated, unsecured, subordinated, redeemable high-yield debentures with Non-Viability Conversion. The instrument has been assigned a rating of BB (lka) by Fitch Ratings (Lanka) Ltd, reflecting the bank’s creditworthiness and the structured nature of the subordinated debt.

Investors can choose from three distinct interest structures starting from a high-yield 13% fixed rate per annum (Type A). This option is paid annually, while Type B offers a 12.5% fixed rate paid semi-annually (12.89% AER). For those seeking market-linked returns, Type C provides a floating rate of the 182-days Treasury Bill rate plus a 400-basis point margin, also paid semi-annually.

The debentures are priced at LKR 100 per unit with a 5-year tenure (2026–2031). The initial issue size is set at 20,000,000 debentures with an option to raise 10,000,000 at the discretion of the Bank and is scheduled to open on 10 March 2026.

Shanka Abeywardene, Chief Financial Officer of Union Bank stated “This debenture issue marks a significant step in the Bank’s journey towards enhanced financial stability. By strengthening its capital adequacy, Union Bank is well-positioned to navigate evolving market conditions while fuelling its long-term strategic objectives for sustainable growth”

Continue Reading

Business

Sanjay Kulatunga appointed to WindForce Board

Published

on

Sanjay Kulatunga

WindForce PLC announced the appointment of  Sanjay Kulatunga as an Independent, Non-Executive Director to its Board with effect from 03rd March 2026, following the resignation of Dilshan Hettiaratchi. The appointment further strengthens the Company’s governance framework, strategic oversight, and long-term decision-making capabilities.

Kulatunga brings an established track record as a founder, entrepreneur, and senior executive across financial services and export-oriented industries. He is the Chief Executive Officer and Co-Founder of LYNEAR Wealth Management, a boutique investment firm established in 2013, which has since grown to become one of Sri Lanka’s largest private wealth management institutions, serving high-net-worth individuals as well as local and international institutional clients.

Prior to founding LYNEAR, Kulatunga played a pivotal role in the establishment of Amba Research, an investment research offshoring firm rooted in Sri Lanka and now operating as part of Acuity Analytics.

Over the years, he has contributed extensively to several key national institutions. His previous appointments include serving on the Financial Sector Stability Consultative Committee of the Central Bank of Sri Lanka, as well as the Board of Investment of Sri Lanka and the Securities and Exchange Commission of Sri Lanka.

Continue Reading

Trending