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CSE and USAID’s SME forum draws considerable interest

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USAID CATALYZE PSD Activity Team Lead Juan Forero, NDB Investment Banking Ltd Senior Vice President Saminda Weerasinghe CFA, Prime Lands Residencies PLC Co- Chairman Premalal Brahamanage, Luminex CEO Palitha Herath, Capital Alliance Partners Limited CEO Nishok Goonasekera, CSE CRO Renuke Wijewardhane and Senior Vice President, Commercial Ms. Punyamali Saparamadu (moderator)

“USAID is working with MSMEs to improve their ability to attract private capital. Through enrollment in the MSME Funding Readiness Program, businesses can unlock fresh pathways for growth, capitalize on capital market opportunities, and contribute to the nation’s economic prosperity.” – Mark Peters- Economic Growth Advisor, USAID.

“A listing will not only strengthen your company’s capital and corporate image, but it will also have a significant impact on the company’s growth prospects.” – Rajeeva Bandaranaike, CSE CEO

“Fundraising through the CSE is a feasible option for SMEs to raise funding while maintaining control, enhancing the image and visibility of the SME, as well as creating a platform for future funding and growth.” – Ms. Amani Ranaweera, Acuity Partners (PVT) Ltd.

“Sacrificing cash flows as interest payments to lenders will hamper this opportunity for SMEs; hence, listing on the Colombo Stock Exchange is a great pathway to access equity capital, strengthen the capital structure, and thereby successfully face challenges in the business environment.” – Rohan Senewiratne, Atarah Capital (Pvt) Limited

The Colombo Stock Exchange (CSE) conducted an Issuer Relations Forum titled “Unlocking funding opportunities for SMEs through the Colombo Stock Exchange”, in association with the U.S. Agency for International Development (USAID) in Sri Lanka on 15th August 2023 at the Mövenpick Hotel Colombo.

The forum provided insights for small- and medium-sized enterprises in key sectors, such as Agribusiness and Information, Communication & Technology (ICT), to discover capital-raising opportunities available at the CSE via listing on the Empower and Dirisavi Boards of the Exchange.

The forum was attended by the USAID Economic Growth Advisor, Mark Peters, USAID CATALYZE PSD Activity Team Lead Juan Forero, CSE Chief Executive Officer (CEO) Rajeeva Bandaranaike, Chief Regulatory Officer (CRO) Renuke Wijayawardhane, Senior Vice President, Commercial Ms. Punyamali Saparamadu, Atarah Capital (Pvt) Limited Managing Director Rohan Senewiratne, Acuity Partners (Pvt) Ltd Senior Vice President – Corporate Finance, Ms. Amani Ranaweera and representatives from investment banks, SMEs interested in raising capital, USAID, and CSE.

Delivering the opening remarks, USAID Economic Growth Advisor, Mark Peters, said “Sri Lanka’s sustainable development and recovery hinge on bolstering capital markets while creating additional funding avenues for SMEs across the nation. USAID is working with MSMEs to improve their ability to attract private capital. Through enrollment in the MSME Funding Readiness Programme, businesses can unlock fresh pathways for growth, capitalise on capital market opportunities, and contribute to the nation’s economic prosperity.”

Through the USAID CATALYZE Private Sector Development (PSD) Activity, USAID Sri Lanka boosts private capital in vital Sri Lankan sectors. Such programs support the private sector in fostering inclusive economic growth and facilitating affordable financing access.

CSE CEO Rajeeva Bandaranaike, in his remarks, stated, “We are pleased to have received a positive response for this initiative today. Over the years we have seen numerous companies listing on the Colombo Stock Exchange, with both the company and its shareholders benefitting in the process.”

“We have witnessed a dynamic growth in the capital market of Sri Lanka. The Government’s recent Domestic Debt Optimization (DDO) process also had a positive impact on the CSE. We are actively looking at new products to be introduced to the market,” Bandaranaike added.

Encouraging the participants to list on the CSE, he further said, “A listing will not only strengthen your company’s capital and corporate image, but it will have a significant impact on the company’s growth prospects. Therefore, we encourage companies to make use of this opportunity.”

Addressing the gathering, Acuity Partners (PVT) Ltd Senior Vice President – Corporate Finance, Ms. Amani Ranaweera said “We are seeing tangible signs of an economic revival. After several challenging years, now is the time for SMEs to put the appropriate framework and processes in place to take advantage of capital raising opportunities.”

“Fund raising through the CSE is a feasible option for SMEs to raise funding while maintaining control, enhancing the image and visibility of the SME as well as creating a platform for future funding and growth. With USAID’s CATALYZE project gaining access to funding is now more affordable to SMEs,” she added.

Speaking at the forum, under the subject of “Listing on the CSE as a Game Changer”, Mr. Rohan Senewiratne, Managing Director of Atarah Capital (Pvt) Limited stated “SMEs comprise more than 75% of enterprises, account for more than 20% of Sri Lankan exports, 45% of employment and 52% of the GDP.”

“SMEs can play a vital role in the economic recovery of Sri Lanka if they are able to gain access to raise equity capital. Sacrificing cash flows as interest payments to lenders will hamper this opportunity for SMEs hence listing in the Colombo Stock Exchange is a great pathway to access equity capital, strengthen the capital structure and thereby successfully face challenges in the business environment,” Mr. Senewiratne added.



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GDP data reaffirms persistent asymmetry of Sri Lanka’s provincial economy

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Western Province maintains its dominant position, accounting for 42.4% of nominal GDP

The 2024 provincial GDP data reaffirms the profound and enduring structural asymmetry in Sri Lanka’s economic geography. The Western Province continues to function as the nation’s overwhelming economic core, while the second and third runners-up, the North Western and Central Provinces respectively, operate on a markedly different scale and sectoral foundation.

The Western Province maintains its dominant position, accounting for 42.4% of the country’s nominal GDP. This preeminence is rooted in its commanding role across the high-value Services and Industry sectors, where it contributes 44.5% and 47.6% of national output, respectively. Its economy is distinctively modern, with a scant 2.3% reliance on agriculture and over 98% of its output derived from industry and services. This concentration of finance, trade, administration, and manufacturing creates an unmatched gravitational pull for investment and talent.

In stark contrast, the combined economic share of the North Western (11.5%) and Central (10.7%) Provinces is just over half that of the Western Province alone. Their paths to relevance are fundamentally different. The North Western Province has solidified its role as the nation’s agricultural heartland, contributing a full 20.0% of national agricultural activity. It also holds a significant, though secondary, position in industry at 12.0%. Its internal economic composition is more balanced across sectors than the west, with a notable reliance on industry (29.1% of its own GDP) alongside agriculture.

The Central Province, meanwhile, presents a more services-oriented profile among the runners-up, contributing 10.7% to the national services total. It also holds important shares in agriculture (13.9%) and industry (9.6%). Internally, its economy mirrors the national structure most closely among major provinces, with services constituting about 63% of its output. This suggests a diversified regional economy centered on urban hubs like Kandy, but one that lacks the concentrated high-end service power of Colombo.

The comparative analysis reveals a clear hierarchy. The Western Province is the integrated, metropolitan driver of the modern economy. The North Western Province serves as a vital agro-industrial base, and the Central Province as a diversified regional center. Despite a noted increase in the combined share of the other provinces, the gap remains vast. The economic landscape is thus characterized not by convergence, but by a persistent and specialized asymmetry, where the runners-up support the national economy through different, but essential, sectoral strengths, all while operating in the long shadow of the western province.

by Sanath Nanayakkare

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Sri Lanka Insurance supports 1,000 families in flood-affected areas

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Dry ration packs were distributed through the NDRSC

Sri Lanka Insurance Life and Sri Lanka Insurance General, in collaboration with the National Disaster Relief Services Centre (NDRSC), extended vital assistance to 1,000 families affected by the recent ‘Ditwah’ cyclone. The relief initiative was carried out in two phases on 30th November and 2nd December 2025, reflecting the company’s continued commitment to supporting communities in times of distress.

Dry ration packs were distributed through the NDRSC to the Maharagama Urban Council and the Divulapitiya Pradeshiya Sabha, ensuring that aid reached the most affected households swiftly and efficiently. Both distribution programmes were held with the participation of local authorities and the management teams of SLIC Life and SLIC General, further strengthening the company’s close partnership with the communities it serves.

Speaking on the initiative, Chairman of Sri Lanka Insurance, Nusith Kumaaratunga, stated; “Sri Lanka Insurance has always placed community wellbeing at the heart of its purpose. In difficult times such as these, it is our responsibility to stand with the families who have been affected and offer meaningful support. This relief effort reflects our ongoing commitment to uplift communities and reinforces our role as a trusted national insurer focused on protection, care, and compassion.”

In addition to the relief programme, Sri Lanka Insurance has implemented extended operating hours at selected SLIC General branches in the affected areas to ensure uninterrupted service. Claims, customer care teams, and branch staff are working beyond regular hours to provide prompt assistance to policyholders impacted by the severe weather conditions.

Sri Lanka Insurance remains dedicated to safeguarding its customers and supporting communities across the nation, reaffirming its longstanding promise of protection, stability, and service excellence.

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Jaffna Hindu College wins regional AIA Healthiest Schools award

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The college was honoured at a vibrant regional awards ceremony

Jaffna Hindu College was named as one of the winners at the regional award ceremony of the prestigious AIA Healthiest Schools Competition, a flagship initiative by AIA Group aimed at promoting healthier habits among students across Asia-Pacific region through innovative school-based projects. The competition, which drew a record number of entries from eight regional markets, recognises schools that implement innovative and impactful initiatives in the areas of healthy eating, active living, mental wellbeing, and sustainability. Jaffna Hindu College stood out in the Active Lifestyles Award Category for its creative and community-focused project that introduced a bicycle rental system, ensuring greater access to physical activity for all students and encouraging healthier lifestyles across the region.

The winners of AIA Healthiest Schools programme were honoured at a vibrant regional awards ceremony in Da Nang, Vietnam, where the prize money was awarded to the respective schools to support the ongoing health and wellbeing initiatives.

The Cycling Club was introduced to make physical activity accessible and enjoyable for all students. The club introduced a bicycle rental system, managed via a custom software platform, ensuring equitable access regardless of financial background. Students participated in a cycle parade and three themed challenges focused on endurance, speed, and teamwork. The initiative quickly became popular, engaging over 100 students and receiving enthusiastic support from teachers, parents, and local businesses. Experienced cyclists from the community volunteered as coaches, while cycling organisations provided safety training and route planning.

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