Development Archives

April 3, 2023

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Huawei released its 2022 Annual Report today. The company reports steady operations throughout 2022, having generated CNY642.3 billion in revenue and CNY35.6 billion in net profits. Huawei continues to strengthen investment in R&D, with an annual expenditure of CNY161.5 billion in 2022, representing 25.1% of the company’s annual revenue and bringing its total R&D expenditure over the past 10 years to more than CNY977.3 billion.

“In 2022, a challenging external environment and non-market factors continued to take a toll on Huawei’s operations”, said Eric Xu, Huawei’s Rotating Chairman, at the company’s annual report press conference. “In the midst of this storm, we kept racing ahead, doing everything in our power to maintain business continuity and serve our customers. We also went to great lengths to grow the harvest – generating a steady stream of revenue to sustain our survival and lay the groundwork for future development.”

Also present at the event was Sabrina Meng, Huawei’s CFO. She noted, “Despite substantial pressure in 2022, our overall business results were in line with forecast. At the end of 2022, our liability ratio was 58.9% and our net cash balance was CNY176.3 billion. In addition, our balance of total assets reached one trillion yuan, largely composed of current assets such as cash, short-term investments, and operating assets. Our financial position remains solid, with strong resilience and flexibility. In 2022, our total R&D spend was CNY161.5 billion, representing 25.1% of our total revenue – among the highest in Huawei’s history. In times of pressure, we press on – with confidence.”

In 2022, revenue from Huawei’s carrier, enterprise, and consumer businesses was CNY284 billion, CNY133.2 billion, and CNY214.5 billion, respectively.

Huawei is a strong proponent of growing together with its ecosystem partners, and believes that openness and collaboration lead to shared success. The company has continued to open up its platform capabilities across its HarmonyOS, Kunpeng, Ascend, and cloud portfolio, focusing on improving developer experience as well as enabling and supporting its ecosystem partners on all fronts. Huawei currently works with more than nine million developers and over 40,000 ecosystem partners to fuel ecosystem-based innovation and create greater value for its customers.

“2023 will be crucial to Huawei’s sustainable survival and development,” Xu noted. “Plum blossoms tend to grow sweeter from a harsh winter’s freeze. Today, Huawei is like a plum blossom. While it’s true that we have considerable pressure ahead of us, we have what it takes to come out the other end – with opportunities to grow, a resilient business portfolio, a unique competitive edge, the enduring trust of our customers and partners, and the courage to invest heavily in R&D. We are confident in our ability to rise above any challenge that comes our way, laying a solid foundation for sustainable survival and development.”

All financial statements in the 2022 Annual Report were independently audited by KPMG, an international Big Four accounting firm. To download the 2022 Annual Report, please visit https://www.huawei.com/en/annual-report/2022

Note: The 2022 closing exchange rate is US$1.00 = CNY6.9533

March 28, 2023

A highly skilled, well-educated workforce who are valued members of the CISI global family were some of the comments made by Chartered Institute for Securities & Investment (CISI) CEO Tracy Vegro on her recent visit to Colombo, Sri Lanka meeting CISI staff, members, stakeholders and partners.

The global professional financial services membership body CISI, a charity and chartered body created out of the London Stock Exchange, has been operating in Sri Lanka since 2011 and Vegro’s visit to Colombo included a series of business meetings with CISI board members, partners, Embassy officials and accredited training providers.

The CISI Sri Lanka office celebrated its 10-year anniversary in 2021. Since the launch of the CISI Colombo office in 2011 with only seven staff, there are now 70 staff whom form the CISI team, including Marketing and Communications, Global Business Development, Finance, Customer Support, and IT.

The most taken financial services professional qualifications in the Sri Lankan market which CISI provide include those for the capital markets, compliance and wealth sectors and since inception 10,000 CISI qualifications have been taken in Sri Lanka. Vegro noted: “It’s been a privilege to meet with the many colleagues, partners and accredited training providers who support CISI here in Sri Lanka. I have also had the great pleasure of meeting our CISI Trustee and National Advisory Council President Nandika Buddhipala MCSI and would like to thank him and the CISI NAC for their continued enthusiasm and wise counsel for CISI’s work on this remarkable island and the wider APAC region.

“From the many important meetings I’ve had, one particular factor has struck me as recurring: the untapped potential in the Sri Lankan financial services market for learning and self development. Our colleagues, partners and supporters have enabled CISI to build not only our world class qualifications, but our wider continuing professional development offering, including professional assessments and integrity suite, which are so critical now for all professionals in keeping their skills current and relevant. The international financial services market is growing and I would encourage young Sri Lankans considering a career in finance to take a look at how CISI can help you accelerate and develop, both as an exam candidate but also a lifelong learner and CISI member.

“Sri Lanka has and is dealing with extraordinary economic challenges, the effects of the Covid 19 pandemic, fuel, gas and power shortages. What I have seen in my many meetings and visits is an equally extraordinary resilience and determination. We at CISI are proud of all our Sri Lankan staff, partners, members, board members and ATPs.”

Nandika Buddhipala said: “It has been my pleasure working with CISI since 2011 as a part of the National Advisory Council in Sri Lanka. CISI’s continuous engagement in its integrity suite emphasizing ethical behaviour and a strong governance framework is the cornerstone and foundation of financial markets. Improving levels of professional competence through raising individual standards of knowledge, skills and behaviour is gathering momentum during hard times.

“We were delighted to welcome Tracy Vegro OBE, CISI CEO at this critical juncture of our economy and encouraged with her enthusiasm, understanding and appreciation of our extraordinary resilience and determination as a nation. I together with my colleagues at the NAC are eager to work with her in order to enhance the skills of our professionals to be more competitive and impactful in the global financial market space.

“I believe CISI not only continuously enhances the standard of knowledge of the financial professionals in Sri Lanka, but can guide us through to further improve much needed Diversity, Equity, Inclusivity, and Belongingness (DEIB) within our corporate culture. It is more important than ever to encourage diverse views and innovation for us to weather through the circumstances which are radically different from what we have experienced in our life time.”

In addition to her meeting with CISI NAC President and Chief Financial Officer of Commercial Bank of Ceylon Nandika Buddhipala MCSI, Vegro also met with Kulendra Janaka, Head of Product Management and Business Analysis at the London Stock Exchange Group (LSEG), Kapila Dodamgoda of the Academy of Finance and Michael Fernandopulle, Head of Trade and Investment for the British High Commission Sri Lanka and the Maldives.

February 27, 2023

27th February 2023, Colombo: Norfund, the Norwegian government’s investment fund, with a mission to support sustainably driven business operations in developing countries, recently signed a USD 14 million financing agreement with Hela Apparel Holdings PLC to bolster the development of its manufacturing operations in East Africa. NDB Investment Bank Limited acted as the Financial Advisor for the transaction.

The official announcement was made in the presence of His Excellency Gunnar Andreas Holm – Norwegian Ambassador to Kenya, Tellef Thorleifsson – CEO of Norfund, William Nyaoke – Norfund’s Regional Director for East Africa, Nishantha Mohottige – Country Director for Hela Kenya and Rukshan Aponso – Vice President of Corporate Advisory for NDB Investment Bank Limited, at an event held at Hela’s manufacturing facility in Kenya on the 24^th of February 2023.

Hela Kenya, established in 2016, is the largest manufacturing facility within the Hela Group and employs over 4,000 people. The facility is also one of the largest of its kind in Kenya, and currently produces approximately 20% of the country’s total apparel exports. Hela was the first major Sri Lankan apparel manufacturer to establish operations in Kenya and has played a leading role in the rapid growth of the industry across the continent over recent years, with the subsequent establishment of manufacturing locations in Ethiopia and Egypt.

“Our expansion to Africa has been a rewarding venture, and we continue to see many opportunities within the region for further development,” said A.R Rasiah, Chairman of Hela Apparel Holdings. “Given the increasingly unpredictable global environment, establishing long-term financing relationships with strategic partners who share our vision for Africa as a global apparel sourcing hub plays a critical role in ensuring the envisioned plans for growth are realized. Hela’s African operations provide livelihoods to thousands of people, and our continued growth as a manufacturer will help us continue to strengthen and empower many communities across the globe. The intended investment in our Kenyan manufacturing facility, which will be supported by this lending from Norfund, is a key part of the Group’s strategy to remain globally competitive. On behalf of the Board of Directors, I would like to take this opportunity to thank Norfund for their partnership and support towards the organisation’s vision.” He further added.

The proceeds from Norfund’s investment will also be utilized to strengthen Hela’s strategic supply chain partnerships in East Africa. This will enable Hela to leverage regional sourcing from Kenya and Tanzania to a larger extent, providing significant cost and lead time advantages for manufacturing in the region. A potential supply chain investment is also being considered by Hela for the proceeds. Proposed Capex investments within the Kenyan manufacturing facility on process automation will enhance productivity and place the facility in a more competitive position within the region.

“We see great opportunities in contributing to large-scale job creation in East Africa by investing in the apparel and textile industry, in line with our goal of building sustainable businesses to combat poverty. We have been impressed with what Hela has already delivered through its investments in East Africa and are confident that this partnership will go a long way in helping Hela create more employment opportunities primarily for low-skilled women and those vulnerable in society who struggle to find such opportunities.

We look forward to a fruitful partnership in the years to come”, says William Nyaoke, Norfund’s Regional Director for East Africa.

“Norfund is one of the largest shareholders of our ultimate parent, NDB Bank, and our relationship with them has been a very successful one indeed, and this transaction was no exception”, stated Darshan Perera, Chief Executive Officer of NDBIB. “The wealth of knowledge gained by our prior dealings with Norfund and other DFIs enabled us to successfully execute this transaction, which is Hela’s first fundraising via a DFI. We are extremely pleased to have advised Hela in our debut transaction in the African Region and look forward to working with them in realizing their plans in Africa.” He further stated.

July 27, 2022

Colombo, Sri Lanka, July 27, 2022—Sri Lanka’s premier connectivity provider, Dialog Axiata PLC (Dialog), is set to expand and improve broadband connectivity across the country with International Finance Corporation’s (IFC) support.

IFC’s loan of up to $150 million will help Dialog expand and improve its network capacity through the upgrading of existing sites and the construction of new 4G sites. Dialog also seeks to increase its fibre optic network footprint and implement upgrades to increase both capacities and efficiencies in core network operations.

As the leading telecommunication services provider in Sri Lanka, Dialog represents over 50 percent of both the mobile and fixed broadband market in the country and is well equipped to effectively expand quality connectivity options to underserved areas in Sri Lanka.

With over 32 million mobile subscribers, Sri Lanka has made substantial progress in terms of penetration of mobile services, with 149 percent mobile penetration versus an average 85 percent of its South Asian peers. While Sri Lanka ranks amongst the top 20 countries for Broadband affordability, the internet quality and speed has been weak with Sri Lanka ranking 125^th globally (among 141 countries) in download speed. This significant quality gap in the market is mainly due to heavy reliance on mobile services for data usage and use of older technologies such as 3G.

“Quality and reliable telecommunication infrastructure has a multiplier effect on a country’s economic growth. It provides the opportunity to unlock new and innovative sources of growth and jobs—spurring digital economy, trade, and entrepreneurship—while bringing communities closer,” said Hector Gomez Ang, IFC’s Regional Director for South Asia. “IFC’s investment in this partnership shows our commitment to support the development of Sri Lanka’s private sector, even amid current uncertainties.”

Speaking at the occasion, David Nai Pek Lau, Chairman of Dialog Axiata PLC said, “It is heartening to note the continuing collaboration between IFC, Axiata and Dialog. We are grateful to IFC for their faith in Dialog and Sri Lanka over the years, and their steadfast support to help address some of the biggest challenges we are currently facing in our journey of advancing the country’s connectivity infrastructure in line with our mission of empowering and enriching Sri Lankan lives and enterprises. IFC’s funding will be critical in meeting Sri Lanka’s future digital connectivity needs, which is fundamental in helping people and businesses flourish during these challenging times.”

Dialog, part of a leading regional telecom service provider Axiata Group Berhad, has been a longstanding client of IFC. Apart from previous debt and equity investments in 2004 and 2007, IFC also helped strengthen the business skills of Dialog’s retail distributors in Sri Lanka, benefitting more than 3,000 small business owners from rural and post conflict regions of the country. Axiata Group has been a key partner for IFC in Asia—including in Bangladesh—promoting the development of digital infrastructure and digital economy in markets where it operates.

Commenting, Director/Group Chief Executive, Supun Weerasinghe of Dialog Axiata PLC said, “Dialog’s association with IFC goes back to 2004, and we’re grateful for their continued confidence placed in Dialog and Sri Lanka as a nation. Today, we’re at a crucial juncture as a country, as well as an organization. With the support of IFC and Axiata, we are able to initiate this next phase of connectivity infrastructure development in the country and continue our commitment to delivering uninterrupted services and world-class technology to all Sri Lankans and Enterprises.”

IFC will also ensure that Dialog adopts an enhanced environmental and social management system (ESMS) according to IFC Performance Standards for their mobile network deployment, in line with Dialog’s endeavors of pursuing green connectivity, supporting global climate action goals and achieving net-zero CO2 emission by 2050.

“The need to strengthen connectivity and accelerate growth is critical for Sri Lanka now more than ever. With this latest investment, IFC-Dialog Axiata synergy marks yet another significant milestone in the partnership to improve the quality of connectivity for people and businesses across the country,” said Isabel Chatterton, IFC’s Regional Industry Director for Infrastructure Asia and the Pacific. “Continuing to harness the power of technology can help drive innovation and create better opportunities for more Sri Lankans.”

As the sector rapidly grows and advances technologically, IFC continues to be one of the leading development financiers in digital infrastructure across emerging markets, supporting all aspects of the ecosystem. Over the past decade, IFC committed and mobilized more than $6.5 billion in digital infrastructure and services, and more than $2 billion over the last two years alone. In addition to enhancing and enabling digital infrastructure, IFC is helping its portfolio companies to align their environmental and social practices with IFC’s performance standards.

June 27, 2022

The local dairy industry leader, Pelwatte, is set to launch a range of new products this year which are currently under research and development. Using only 100% locally sourced dairy milk with no added preservatives, flavors and coloring these products will be great additions to Pelwatte’s already extensive dairy products portfolio. As a local dairy processor, Pelwatte believes that it is equipped to cater the demand of not only milk powder but also with fresh milk, butter, cheese, ice cream and other value added dairy products.

These efforts start with the dairy farmers, who work very hard despite the many hindrances that they face due to the situation in the country. Yet, they are determined to ensure that the people of this nation receive the best in quality that’s unmatched by even certain international brands. Everyone is on a mission to ensure that the people of this Island nation are satisfied and receive the right nutrition from dairy products.

However, this does not end just here. As the Research and Development Manager of Pelwatte, Suneth Gunathilaka, rightfully put “Innovation is not just about thinking out of the box in our industry, it is about ensuring that this innovation is accepted and liked by our advocates, for if not for them who support us, we would not be here right now. This is why Pelwatte has introduced many different products, from butter to ice cream, and its different flavors that we believe our advocates will love. Pelwatte distinguishes itself from other brands because of its constant efforts to improve its standards. This can be witnessed the moment you open a product from Pelwatte. Freshness, taste, trust, and happiness is what you feel and witness with Pelwatte. This is because of the many efforts that go into each drop of milk that you consume.”

Pelwatte Dairy, which is known for its range of interesting innovative dairy products, is gearing up to launch a range of new products. Using only 100% locally sourced milk, Pelwatte Dairy plans to offer new strawberry flavored set yoghurt that comes in sets and strawberry drinking yoghurt. This is not the first attempt at flavored products that Pelwatte has made. It is well known for its range of ice cream products from your usual, but enhanced flavors of chocolate, strawberry and vanilla to the more exquisite ginger biscuit, faluda, coconut with cardamom, butterscotch, blueberry and fruit & nut. All of which are fan favorites. Including the little ones who enjoy different flavors and sweet tooth taste pallets.

Based on extensive market research, the company has decided to introduce a new butter to market for those who enjoy a good culmination of buttery spice and saltiness. The Chili Butter, which adds really flavorful chilli note to Pelwatte’s already creamy and tasty butter, is expected to be a real delight to the consumers who expect a twist in their meal. Again, this doesn’t end here as Pelwatte also plans its Ghee product which will be introduced in a 500g tin pack, which is one of the best high fat dairy products in the world due to the many international standardization methods that have been implemented in order to produce it.

Whether it is sweet or spice, there is something for everyone at Pelwatte. This is why there are many admirers and advocates of the brand. This is also the motivation behind Pelwatte’s mission of a self-sufficiency. It’s not just about dairy alone, but catering to everyone’s different tastes and cravings with it which is what makes Pelwatte an industrial leader and role model that other brands should follow.

Pelwatte, as a trusted local dairy processors have shown time and time again that their product quality is far superior and definitely fresher than imported products. Pelwatte always guarantees the time taken from farm gate to retail outlet shelves is less than 48 hours, which cannot be claimed by imported brands. Despite being locally sourced it is quite clear that supply and production costs have increased due to surging rates on other factors. However, through all these challenges Pelwatte assures its customers that there will be no decline in quality or the service that it provides.

June 13, 2022

SLIIT is set to host Postgraduate Open Days for the 2022 June intake offering students the perfect opportunity to discover multiple pathways for academic development.

Scheduled for the 17^th and 19^th of June at the SLIIT Metro and Malabe Campuses respectively, students will be provided insight into the range of postgraduate and PhD course options. A Virtual Day via Zoom has also been organised on 18th June for students who wish to join online.

At the Metro Campus located in Colombo 03, on Friday 17th June, SLIIT has planned a Physical Open Day from 5 pm to 8 pm. Prospective candidates can speak directly with SLIIT expert teaching staff from the Faculty of Graduate Studies and Research, Program coordinators and the student enrolment team on a one-to-one basis to learn more and discover the exciting range of courses available.

Detailed information will be provided on research facilities, career opportunities, scholarships and special discounts offered by SLIIT.

Similarly, the Physical Open Day organised at the SLIIT Malabe Campus on Sunday 19th June from 10 am to 4 pm will also offer an insight into academics, facilities, and advice on how graduate studies can impact future career potential, in addition to details of scholarships and discounts will be discussed. The Open Day will include a Campus tour to explore the services and experience the environment.

For prospective students wishing to participate in the Open day virtually or unable to visit the campuses, SLIIT is hosting a Zoom option on Saturday 18th June, from 10 am onwards. There will be two main sessions followed by Questions and Answers. Each session will include in-depth information about the graduate courses offered at SLIIT.

As the leading non-state higher education institute, all SLIIT postgraduate degrees are approved by the University Grants Commission under the Universities Act. SLIIT is recognized as a member of the Association of Commonwealth Universities (ACU) and the International Association of Universities (IAU).

Notable highlights of SLIIT Postgraduate programs are the highly qualified and reputed panel of lecturers, industry-oriented curriculum, excellent research support and assurance of on-time delivery and completion of all courses according to pre-planned schedules.

Recognized for producing high-quality research, SLIIT Postgraduate programs offer excellent research guidance and support. This is demonstrated with over 100 theses produced yearly and also SLIIT achieving the highest number of research publications among the non-state higher educational institutes.

Encouraging quality and affordable education in Sri Lanka, SLIIT is offering special discounts for MSc and MBA students. A 15% discount is on offer for Open Day participants, 20% discount for corporate registrations with a minimum of 4 per group and a 10% discount for SLIIT Alumni enrolments.

Currently, Postgraduate study programs include the Master of Business Administration (MBA) program, MSc in Information Technology, MSc in Information Management, MSc in Information Systems, MSc in Information Technology Specializing in Cyber Security and MSc in Information Technology Specializing in Enterprise Applications Development. The Master of Philosophy (MPhil) and Doctor of Philosophy (PhD) research-based degrees are offered in computing and engineering streams on a full-time or part-time basis. MPhil and PHD applications will be accepted from the students throughout the year.

Scan the QR code to register and to get details on special discounts :

June 13, 2022

(Colombo): Sri Lanka’s most comprehensive development regulations – the Development Control Regulations (DCR) – introduced by Port City Colombo, was gazetted recently and is now being enforced. An awareness program on the DCR conducted by the Colombo Port City Economic Commission was held at Port City Colombo, today (09).

The DCR was introduced by the project company, CHEC Port City Colombo, in 2018. It was prepared by Singapore-based Subrana Jurong, one of Asia’s largest urban, industrial, and infrastructure consulting firms with technical assistance of the UK-based prominent engineering consultancy firm Atkins. The DCR was incorporated to the Port City master plan which was designed by a Sweden-based planning consultant, SWECO. The DCR was further evaluated by the Urban Development Authority of Sri Lanka and related government agencies before it was gazetted.

The Acting Director General of Colombo Port City Economic Commission Dr. Priyath Bandu Wickrama chaired the program and explained the importance of introducing the DCR which can be a benchmark to other city developments in Sri Lanka. Dr. Wickrama explained the role and responsibility of other government stakeholder agencies in implementing the DCR within Port City Colombo.

The Director-General of the Coastal Conservation Resources Management Department, Eng. Ranawake, Director General of the Civil Aviation Authority Capt. Themiya Samantha, Chief Fire Officer of the Fire Department, Mr. PDKA Wilson, Director General of the Road Development Authority Mr. L.V.S Weerakoon, Chairman of the Urban Development Authority, Mr. Lalith Wijeratne, Director General of the National Building Research Organization Dr Asiri Karunawardane, Senior Scientist of the National Building Research Organization, Mr. Chinthaka Rathnasiri, Deputy Director General – Environmental Protection of the Central Environment Authority,, Dr. Sanjaya Rathnayake, Deputy Director General of the Environmental Management and Assessment Division of the Central Environment Authority, Mr. N.S Gamage, Director – Legal of the Central Environment Authority, Ms. Manjula Wimalasena, Manager – Urban Planning at CHEC Porty City, Mr. Aruna Bandara, and Consultant at CHEC Port City, Mr. WADD Wijesooriya also attended the awareness program.

Development Control Regulations for Port City Colombo are formed to benefit developers, residents, investors, and every other stakeholder including the surrounding community.

The DCR will regulate the development intensity, set up, and height of buildings on any of Port City Colombo’s plots. It serves as an effective planning tool to regulate development in a logical and orderly fashion.

The DCR provides landowners and developers with a clear picture of what can be developed on any particular plot within the city.

The DCR is divided into 4 volumes; Urban Design, Utility, Landscape, and Sustainability. The development control regulations establish a framework for the development of building masses, land uses, solid void ratios, green and public spaces, localized characteristics, utility network and usage, and sustainability measures, among other things. The Sustainable solutions include means to reduce net water consumption through the implementation of water conservation measures and use of low water consumption fixtures, fittings and equipment have been included, whilst the use of renewable energy solutions, methods to enhance environmental quality, recycling of wastewater and disposal, improved public space and sustainable transport methods etc. have been taken into account and clear solutions included.

Spanning over 269 hectares of land reclaimed from the ocean, Port City Colombo will be Sri Lanka’s first planned city, where everything will be within walking or cycling distance. Roads, cycling lanes, walking paths and locations of buildings are all planned to make everything accessible with little or no motorization.

The DCR plays a key role in achieving Port City Colombo’s vision of becoming Building a World Class City for South Asia, generating business, tourism and supporting a high quality of life.

June 10, 2022

Over 20 project teams were awarded for their excellence in export market development, sustainable innovation and social impact at the Hayleys Group Chairman’s Awards 2021.

The annual apex recognition platform of the diversified conglomerate seeks to celebrate its employees across all 16 of its diverse business sectors, who have gone above and beyond to make a difference.

“Through the Chairman’s Awards we celebrate our greatest asset – the exceptional people of Hayleys. Thanks to them, we have stayed resilient and weathered several challenging years with dynamism, building on our rich heritage of Sri Lankan innovation, good governance and nation-minded value creation. We honour this culture of excellence by sharing and recognizing the very best that our Group has to offer,” Hayleys Group Chairman and Chief Executive Mohan Pandithage said.

Group subsidiary Alumex PLC received the flagship Overall Winner Award for a sharply focused export drive. This effort established the manufacturer as the first and largest local exporter of aluminium extrusions, increasing its own exports tenfold in comparison to the previous year and adding a new product category to the Sri Lankan value-added export portfolio.

Several other innovative paths to export market development were recognized including Mabroc Teas for gaining traction in export markets through value-added offerings catering to the unique taste profiles of these countries. The Martin Bauer Hayleys team was also felicitated for designing and fabricating equipment to concentrate its premium quality Ceylon tea aroma, increasing its flavour profile and efficiencies in cold storage and logistics – thereby increasing its attractiveness to new export customers.

Leading value-added coir-based export company Ravi Industries Ltd was awarded for pioneering a grassroot collection programme for palmyrah-based fibre from smallholders in Jaffna, connecting more local micro-entrepreneurs to global markets.

The Kelani Valley Plantations PLC team was awarded for their work to support the estate community by establishing an out-grower network for potato farming in the Uva and Central provinces. This seed potato value chain development project supported income generation for farmers, improved the quality of life of involved families including unemployed youth and increased the productivity and economic profitability of the Nuwara Eliya district potato value chain.

Across the Group, teams involved in sustainable innovations were recognized, from Hayleys Fabric’s use of natural dyes, recycled raw materials and development of comfortable sport-wear innovations for high-end international clothing brands – to the first-ever carbon nanotube based non-marking solid tire and electro-static discharge glove from the Hayleys Aventura team.

The Group’s ability to innovate solutions for customers despite extremely challenging circumstances was demonstrated by its service-oriented sectors. The Hayleys Advantis team was felicitated for undertaking the first international rig tow by a Southeast Asian company. The team moved a semi-submersible 13,500-ton drilling rig from offshore Kakinada India to Batam Indonesia – braving busy maritime channels and bad weather for a distance of 1600 nautical miles.

June 3, 2022

This year’s annual survey, which is widely acknowledged as the industry’s most authoritative source, has, as of Q1 2022, a record 42 global and regional (African) contributors

TAGHAZOUT, Morocco, June 2, 2022/APO Group/ —

Just four words are needed to sum up the main findings of this year’s African hotel chain development pipeline survey conducted by W Hospitality Group, in association with the Africa Hospitality Investment Forum (AHIF); those words are Egypt, Morocco, Accor and Marriott.

This year’s annual survey, which is widely acknowledged as the industry’s most authoritative source, has, as of Q1 2022, a record 42 global and regional (African) contributors, reporting on a pipeline of hotel development activity totalling around 80,300 rooms in 447 hotels, in 42 of Africa’s 54 countries.

Looking first at the number of rooms physically under construction, Morocco and Egypt are ahead of the pack, with 5,577 and 6,142 rooms respectively. They are followed by: Ethiopia, 3,871; Cape Verde, 3,016; Nigeria, 2,544; Kenya, 2,450; Algeria, 2,337; Tunisia, 2,280; South Africa, 1,948 and Senegal, 1,919. In Tunisia, Kenya and Morocco, over ¾ of the pipeline is “onsite”, whereas in Egypt, 71% is just at the planning stage, reflecting its relatively “young” pipeline (a lot signed in the last 3 years). While Nigeria has 45% onsite; eight of the 15 hotels (with half of the total rooms) that have started construction have stalled, and the sites are closed.

Hotel Chain Development Pipelines in Africa 2022 Top 10 Countries by Pipeline Status
		Hotels	Rooms
		Hotels	Total	Onsite Construction
1	Egypt	85	21,281	6,142	28.9%
2	Morocco	50	7,209	5,577	77.4%
3	Ethiopia	29	5,206	3,871	74.4%
4	Cape Verde	17	4,639	3,016	65.0%
5	Nigeria	33	5,619	2,544	45.3%
6	Kenya	24	3,155	2,450	77.7%
7	Algeria	15	3,202	2,337	73.0%
8	Tunisia	14	2,918	2,280	78.1%
9	South Africa	21	3,133	1,948	62.2%
10	Senegal	13	2,693	1,919	71.3%

The picture changes somewhat when one looks at rooms being planned as well as those under construction. In this approach, Egypt is the star. It doesn’t just lead the country table, with over 21,000 rooms in 85 hotels in development, up 20 per cent on last year; but it is streaking ahead of the pack. It has almost three times the number of new rooms planned as Morocco, and almost four times Nigeria, which was top of the table for many years. What’s more, with continued signing activity (20 hotels with about 5,250 rooms last year), Egypt now accounts for over 25 per cent of the total hotel development pipeline. Morocco has 7,209 rooms in development, spread across 50 new hotels; Nigeria has 5,619 rooms in 33 hotels, Ethiopia has 5,206 rooms spread across 29 hotels and Cape Verde has 4,639 rooms in 17 hotels. The next five places are taken by Algeria, 3,202 rooms, Kenya, 3,155 rooms, South Africa, 3,133 rooms Tunisia, 2,918 rooms and Senegal 2,693 rooms.

Hotel Chain Development Pipelines in Africa 2022 Top 10 Countries by Number of Rooms
		Hotels	Rooms	Average Size
1	Egypt	85	21,281	250
2	Morocco	50	7,209	144
3	Nigeria	33	5,619	170
4	Ethiopia	29	5,206	180
5	Cape Verde	17	4,639	273
6	Algeria	15	3,202	213
7	Kenya	24	3,155	131
8	South Africa	21	3,133	149
9	Tunisia	14	2,918	208
10	Senegal	13	2,693	207
	Total	301	59,055	196

Notably, four out of the five North African countries are in the top ten; and the top ten countries represent 67% of the total hotels, and 74% of the rooms, in the survey.

While Africa’s hotel development pipeline is at its strongest ever, 80,291 rooms being planned or constructed, the top-line number masks a reduction in Sub-Saharan Africa, where there has been a greater amount of hotel investment in recent years. Of the six sub-Saharan countries in the top 10, only Cape Verde has seen an increase in planned rooms, 33%, whilst the “power houses”, Nigeria, Ethiopia, Kenya and South Africa have between them seen a decline of 29%; Nigeria is down 41%. There are three main reasons for the reduction: fewer new opportunities in the region; opening of some 2,700 rooms in 15 hotels last year, and a pipeline “cleansing” which the hotel chains do periodically to remove various projects which are unlikely to go ahead.

Hotel Chain Development Pipelines in Africa 2022 Regional Summary
	2018		2019		2020		2021		2022
	Hotels	Rooms	Hotels	Rooms	Hotels	Rooms	Hotels	Rooms	Hotels	Rooms
North Africa	118	28,303	122	28,702	119	29,050	134	31,547	166	35,280
Sub-Saharan Africa	294	46,731	270	44,395	283	47,684	289	47,855	281	45,011
TOTAL	412	75,034	392	73,097	402	76,734	423	79,402	447	80,291

Looking at the development activity of the hotel chains, both Accor and Marriott are nearly as dominant as Egypt and Morocco, each representing just over 25% of the entire pipeline! Accor has 20,857 rooms in development, spread over 107 properties; Marriott has 20,248 rooms spread over 103 properties. Hilton, in third place, has around half as many rooms, 10,505 in 55 hotels. Radisson, 4^th, has 6,248 rooms in 35 hotels. The next six places are taken by IHG, 3,136 rooms, Barceló, 2,488 rooms, Hyatt, 1,995 rooms, Meliá, 1,743 rooms, Louvre, 1,273 rooms, and Minor, 1,203 rooms.

Hotel Chain Development Pipelines in Africa 2022 Top 10 Hotel Chains by Number of Planned Hotels
Rank by Hotels
		Units	Rooms	Change on 2020	Average Size
1	Accor	107	20,857	8.4%	195
2	Marriott International	103	20,248	8.1%	197
3	Hilton	55	10,505	1.5%	191
4	Radisson Hotel Group	35	6,248	-3.3%	179
5	IHG	17	3,136	10.8%	184
6	Barceló Hotel Group	8	2,488	0.0%	311
7	Hyatt Hotels & Resorts	12	1,995	-9.4%	166
8	Meliá Hotels & Resorts	5	1,743	-10.8%	349
9	Louvre Hotels Group	11	1,273	-4.2%	116
10	Minor Hotels	6	1,203	–	201

Trevor Ward, Managing Director, W Hospitality Group said: “The chains anticipate that 200 new hotels are expected to open this year and next, although their expectations can sometimes be over-optimistic! After a positive trend in 2019, the actualisation of hotel deals (ie: the proportion that actually opened, compared to what the chains expected to open) was less than 30 per cent in both 2020 and 2021 – however, that was quite understandable with pandemic travel restrictions killing the demand for hotel rooms.”

Trevor continued: “I am not surprised by the slow-down in the number of deals signed in sub-Saharan Africa, as the past couple of years have seen not only the pandemic, making it more difficult to travel and meet new partners, but also less appetite from investors for major markets such as Ethiopia, Nigeria and South Africa. However, what does surprise me is that the majority of investment is going into upscale, upper upscale and luxury hotels, when there is very strong demand across Africa for decent quality branded budget and midscale hotels.”

Matthew Weihs, Managing Director of The Bench, which organises AHIF, concluded: “While the hospitality industry has just been through the bleakest period in my professional career, it is fascinating to see that the pandemic has done nothing to dent long-term investor confidence in hospitality. If anything, the savviest financiers have seen it as an opportunity. They have been encouraged by enlightened governments, such as Morocco’s, which have spent $ billions on new infrastructure to incentivise investment in tourism. What’s more, judging by our other conferences this year that have sold out, we are seeing how keen people are to travel again and how valuable it is to meet face to face, rather than over a video link. I am confident that when AHIF takes place on 2-4 November, in Taghazout, close to Agadir, we will see the atmosphere buzzing, with highly productive networking and with more deals announced than ever before.”

An update to the pipeline development survey, along with in-depth insights, will be presented by Trevor Ward at AHIF. The event is the leading conference of its kind in Africa, connecting business leaders and fuelling investment in tourism projects, infrastructure and hotel development across the continent.

Distributed by APO Group on behalf of Bench Events.

May 30, 2022

Hambantota, 27th May 2022…The Hambantota International Port Group (HIPG) marked the symbolic beginning of their flagship community development project, ‘Hope Village.’ This venture which has a budget of over Rs. 60 million, will in its initial stage include a community centre, health centre, agriculture centre, playground facilities as well as financial assistance to the village temple in Kandagasmankada, a village in the Lunugamwehera Division of the Hambantota District.

Ambassador for China to Sri Lanka Qi Zhenhong, was the Chief Guest at the foundation laying ceremony held at the project site. The Management team of HIPG attended the event together with the representatives of Colombo International Container Terminal (CICT) and the Nirmala Foundation. Galapitagala Premarathana Thero, Chief Incumbent of the Kandagasmankada Rajamaha Viharaya; Chinese Ambassador Qi Zhenhong; Jack Huang, CEO CICT; Representatives from Divisional and District Secretariats; C. Wickramaratne, OIC Lunugamwehera Police Station, Johnson Liu, CEO HIPG; Tissa Wickramasinghe, COO HIPG; Raymond Mu, CFO HIPG; Ravi Jayawickreme, CEO HIPS; Senior staff of HIPG and villagers participated in breaking ground to lay the foundation for the project.

Speaking at the ceremony, Ambassador Qi Zhenhong said, “The friendship between China and Sri Lanka dates back over twenty centuries. It is deeply rooted in the hearts of the two nations no matter how the domestic and international situation changes. China and Sri Lanka have been helping each other during difficult times and China will continue to do so in the future. In addition, China wishes to assist Sri Lanka in poverty alleviation. The Hope Village initiative towards uplifting the wellbeing of villagers will be successful with a mutually beneficial partnership”.

The ambassador presented the IT Lab of the village community centre, which will be named ‘China Sri Lanka Friendship IT Education Centre,’ with preliminary IT equipment, which was a highlight of the event. He also distributed toys amongst the village kids. In addition to the Hope Village sponsorship, the HIPG and CICT teams made a cash donation to the village temple.

The ‘Hope Village’ concept, a development model village that will benefit marginalised communities, is a collaboration between China Merchant Foundation (CMF) the CSR arm of HIPG’s and CICT’s global partner, China Merchant Group, and the Nirmala Foundation, a non profit organisation working for positive change. CMF is the sponsor of the project which will be owned by the Nirmala Foundation, and monitored by the Divisional Secretariat of Lunugamwehera. HIPG and CICT teams are the facilitators of the project.

Johnson Liu, CEO of HIPG said, “I always believe it is our duty to look into our immediate neighbourhood at both micro and macro levels to see how we could be of service. Our aim is to develop the ‘Hope Village’ concept into a desirable residential level with fully-fledged facilities and help villagers develop their livelihoods under a cooperative model. The purpose is to uplift the rural community and improve living conditions of people in the area. While being mission driven to become a customer-centric seaport and a platform for business excellence, we at HIP, are pleased to connect our business success with our local community. This is the foundation of our Green Development concept, and I truly believe the Hope Village project will be a positive contribution to the local community.”

The CEO outlined the objectives of the project to the Ambassador and delegates and the ways in which the ‘Hope Village’ would benefit approximately 2,170 residents of Kandagasmankada. He said, amongst the many reasons HIPG selected the village for their pilot model was it being the highest populated in the Hambantota district, and the largest contributor to the agricultural sector within the Lunugamwehera division.

The ambassador and entourage were then invited to visit a village home where they spent some time getting to know the residents. The ceremony ended with the residents of Kandagasmankada treating the invited guests to a display of their agricultural produce and homemade refreshments.

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