Business
Swiss based Enabling Qapital makes its maiden investment in Sri Lanka with Alliance Finance Co. PLC
To support MSME entrepreneurs across the country
Sri Lanka’s oldest finance company, Alliance Finance Company PLC (AFC), has secured a USD 5 Mn medium term financing facility from impact investing fund, EMF Microfinance Fund AGmvK, Liechtenstein advised by Swiss based Enabling Qapital S.A. The financing facility will be used to support Covid impacted Micro SME entrepreneurs across the country in line with AFC’s strong mandate to uplift the livelihood of marginalized communities and developing micro-SME entrepreneurs.
ENABLING QAPITAL (EQ) is an Impact Investment Advisory Company with strong ties, expertise and a proven track record in Impact Investing. EQ has built a state-of-the-art approach when it comes to Microfinance and Impact Investments. EQ is the exclusive advisor to the Enabling Microfinance Fund (EMF). EQ has a global footprint with teams based in Switzerland, Liechtenstein, Africa, Central Asia, East Asia and Latin America. Investments of EQ have reached over 6.2 Mn micro-finance customers around the world and out of whom,51% are females.
Mr. Romani de Silva, Deputy Chairman & Managing Director of AFC elaborates: “This is a significant milestone for AFC and the funding provided by EQ will further strengthen our mandate for sustainable finance. Furthermore, I am very grateful to EQ for identifying AFC as the preferred channel for its maiden investment into the MSME sector in Sri Lanka. It is also a reflection of the trust placed in our sustainable business model and the confidence placed in the MSME sector of Sri Lanka. In the year 2017, AFC became the first financial institution in Sri Lanka’s NBFI sector to commit to the UN Sustainable Development Goals (SDG) and the Paris Agreement on Climate Change, when they signed the ‘Karlsruhe Resolution’. In recent years, AFC has been investing 3% – 4% of its profit annually on social and environmental sustainability initiatives despite the extremely challenging external environment.
AFC has demonstrated strong improvements in all of its performance indicators such as growth, profitability and portfolio quality in recent times, especially after the successful restructuring program implemented with the technical assistance of IFC.
Incorporated in 1956, Alliance Finance Company PLC (AFC) is Sri Lanka’s oldest Non-Banking Finance Institution (NBFI), or the oldest ‘Finance Company’ in the country. It has served four generations of Sri Lankans for over 65 years, and as Sri Lanka’s pioneering finance entity, operates on the principle of Eternal Friendship. An enterprise that has been built on trust, integrity and a shared vision with its customers, Alliance Finance aims to make the world a better place through sustainable financing. AFC has garnered many prestigious awards and mentions on sustainability including the first Value Driven Financial Institution in South Asia to be Certified at Level 4 for Environmental and Social Sustainability in Banking and Finance. Becoming an ISO 22301 certified NBFI in 2012, Alliance Finance serves a diverse portfolio of clients with its Savings, Fixed Deposits, Leasing, Speed Cash, Development Finance, Gold Loans, and Personal Loans.
MullenLowe Group Sri Lanka (MLG) announced the appointment of Sarah Nasry as Director & Chief Financial Officer, effective immediately.
In her new role, Sarah will lead both the Finance and Human Resources functions at MullenLowe Group Sri Lanka, playing a pivotal role in shaping the company’s financial strategy and people agenda. She holds a distinguished track record across multiple business disciplines, including Supply Chain, ICT, Administration, Corporate Communications, and CSR. Sarah brings a wealth of experience from her most recent position as General Manager – Finance & Business Partnering at Brandix, Sri Lanka’s leading apparel manufacturer.
Recognised for her strengths in business partnering, financial planning, and strategic decision-making, Sarah is also widely respected for nurturing inclusive, people-centric cultures that foster growth and high performance.
Thayalan Bartlett, Executive Chairman of MLG, commented, “Sarah’s appointment follows an extensive search for the right person to lead our finance division through the next phase of our journey. Her wide-ranging experience and strong leadership credentials give me every confidence that she will continue to strengthen the financial integrity and compliance standards we are known for, and the Board looks forward to working closely alongside her in this journey.”
Sarah also marks a significant milestone for the company, becoming the first female member of MLG’s Board of Directors. She will additionally serve on the MLG Executive Committee (ExCo), reinforcing the company’s commitment to diversity and inclusion at the leadership level.
Commenting on her appointment, Sarah said, “I am honoured and excited to join MullenLowe Group Sri Lanka and help steer the company into its next chapter. I look forward to collaborating with the talented team at MLG to drive financial strength, champion a people-first culture, and build on the company’s strong legacy of creativity and performance.”
Business
Sun Siyam Pasikudah Named Tripadvisor Travelers’ Choice Award Best of the Best Winner for 2025
Sun Siyam Pasikudah, a boutique luxury resort on Sri Lanka’s eastern coast, is thrilled to announce its recent win at the Tripadvisor’s Travelers’ Choice Awards Best of the Best for 2025, placing it among the top 10 percent of resorts worldwide. This accolade reflects the resort’s commitment to exceptional guest experiences, sustainable practices, and community engagement.
As the world’s largest travel guidance platform, Tripadvisor has unparalleled authority with travelers and diners. This award is based on genuine feedback from anyone in the community who has visited and left an authentic, first-hand review on Tripadvisor over a 12-month period, making it a valuable and trustworthy designation of travelers’ favorites.
Reopened in November 2023 after an extensive transformation, Sun Siyam Pasikudah offers 34 spacious one- and two-bedroom garden and beach pavilions, each featuring bold monochromatic interiors accented with golden tones. The redesign, led by Studio Sixty7, emphasizes a blend of contemporary elegance and local craftsmanship. The resort collaborated with local artisans, showcasing Sri Lanka’s rich talent and cultural heritage.
‘‘We are thrilled to being recognized on par with some of the world’s best resorts. Under just two years since our reopening, this achievement couldn’t be possible with the tremendous effort and support of our world-class team and our guests that keep coming for the unique experiences we offer. We are proud to contribute to Sri Lanka, a destination that is on every traveler’s go-to list,’ said its General Manager, Arshed Refai who has been with Sun Siyam Resorts for over a decade.
OTTO Bathware has received Sri Lanka Standards (SLS) certification from the Sri Lanka Standards Institution (SLSI). This certification confirms that OTTO’s sanitaryware meets the highest national standards for safety, durability, and performance. With over 30 years of experience, OTTO Bathware operates under the ADI Group (Art Decoration International Pvt. Ltd.- www.ottobathware.com) and runs a modern 435,000square feet manufacturing facility in Bandaragama. The company has grown to become; South-Asia’s largest decorative ceramic manufacturer/ exporter, Sri Lanka’s second-largest sanitaryware producer, supplying to over 500 retailers island-wide.
“We’re proud to offer sanitaryware that meets national safety and quality standards. We encourage all Sri Lankans to look beyond the price tag and choose products that are certified, tested, and built to last.” said its Chairman, S. H. B. Karunarathne.
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