SMEs Archives

April 4, 2024

Nearly 200 small and medium enterprises (SMEs) from all over Sri Lanka were recently provided an invaluable opportunity by the Commercial Bank of Ceylon, to exhibit and sell their products and services in Colombo, and to engage with customers at a unique SME Trade Fair.

The two-day fair at the Sri Lanka Exhibition & Convention Centre (SLECC), Colombo 1, saw the participation of SMEs from Jaffna, Batticaloa, Puttalam, Anuradhapura, Badulla, Kurunegala, Kandy, Ratnapura, Matara, Negombo, Kalutara and Colombo, as well as eight corporate entities that provide services to SMEs and the country’s agriculture sector.

Demonstrating the possibilities offered by technology, the Bank provided an opportunity for eight SMEs to exhibit their products via a digital channel developed by ComBank LEAP GlobalLinker, a platform developed by the Bank to help businesses access global markets using digital technology. A Mobile App for the LEAP programme was also launched during the inauguration of the event.

Signifying the importance accorded by the Bank to the event, the SME Trade Fair was inaugurated by Commercial Bank Managing Director/CEO Mr Sanath Manatunge, Chief Operating Officer Mr S. Prabagar and members of the corporate management with distinguished special invitees including Commercial Bank Chairman Prof. Ananda Jayawardane and IFC Country Manager Mr Alejandro Alvarez de la Campa, IDB Chairman Dr Saranga Alahapperuma and the President of the Institute of Certified Management Accountants (CMA) Prof. Lakshman Watawala.

The Bank said the SME Trade Fair and Exhibition not only provided an opportunity for SMEs to showcase their products to a wider audience, it helped them to find potential buyers, source new suppliers, study other similar products in the market and the prevailing market dynamics, and to meet exporters to make their products export-ready.

Additionally, the Bank had set up an Industry Helpdesk Industry manned by representatives of the Bank as well as government institutions such as the Industrial Development Board (IDB), Export Development Board (EDB), Sri Lanka Standards Institution (SLSI), Sri Lanka Sustainable Energy Authority (SLSEA), Central Environmental Authority (CEA) and National Engineering Research & Development Centre (NERD) and private institutions like Bureau Veritas and Safo Consultancy (Pvt) Ltd.to provide advice to exhibitors and visitors.

An Exporter Hub at the location was used to connect local producers with exporters to help strengthen export value chains under the Bank’s ‘Diribala’ Exporter Development Programme. The Bank said 12 large scale direct exporters volunteered to negotiate with suppliers, and over 30 local producers were given an opportunity to meet exporters with their product samples and get advice.

A novel element to the event was the participation of about 25 students of the School Entrepreneurship Club of Yasodara Balika Maha Vidyalaya, Gampaha, who exhibited their products, obtained valuable insights from experienced SMEs and utilised the networking opportunities with the exhibitors.

Three awareness programmes were conducted under the topics ‘Managing Business for Start-ups’ by the Deputy Director of the Central Bank of Sri Lanka Mrs. S.D.N.Chamindini; ‘Strategies for Business Resilience & Renewal’ by Master Trainer Mr Ismail Azeez; and ‘Sustainable Entrepreneurship’ by the Co-founder of Good Market Ms. Achala Samaradivakara.

This was the second SME Trade Fair organised by the Bank. The first was held in March 2022 at Diyatha Uyana on the same lines.

The largest private sector bank in Sri Lanka, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the country’s first 100% carbon neutral bank, Commercial Bank operates a strategically-located network of branches and 964 automated machines island-wide, and is the largest lender to Sri Lanka’s SME sector. Commercial Bank has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.

March 11, 2024

Colombo, Sri Lanka, March 11, 2024—Small and medium enterprises (SMEs) in Sri Lanka are set to benefit from the newly established Secured Transactions Registry (STR), which aims to facilitate the use of moveable assets as collateral for loans while ensuring financial stability and fostering economic growth in the country.

With technical assistance from the International Finance Corporation (IFC), the new Secured Transactions Registry Act aims to address legal and operational challenges in the existing law. This is a collective effort led by the Credit Information Bureau (CRIB), in collaboration with the Central Bank of Sri Lanka and the Ministry of Finance.

SMEs comprise more than 75 percent of enterprises while accounting for 45 percent of employment and 52 percent of the country’s GDP. Yet they cite access to finance as one of the key obstacles, hindering their growth potential. Against this backdrop, a robust legal framework to register security interests over movables assets will help unlock the full potential of small businesses in Sri Lanka through easier access to loans.

“The enactment of the new law and consequential amendments to 7 related laws is a critical step in developing a fully-fledged secured transaction framework to mortgage moveable assets in Sri Lanka that protects the rights of all types of regulated financial institutions, encouraging them to provide financing secured by moveable collateral,” said Pushpike Jayasundera, Director/General Manager, Credit Information Bureau of Sri Lanka (CRIB).

Globally, businesses are restricted from using movable collateral (such as machinery, inventory, accounts receivables, crops, and equipment) to obtain financing because many countries do not have functioning laws and registries to govern secured transactions. Secured transactions reform is also an avenue that can help encourage women—they are more likely to have movable assets to pledge—to start or expand a business.

“An effective credit infrastructure is key to strengthening Sri Lanka’s financial sector. IFC assisted CRIB in drafting the new law, which incorporated several rounds of consultations and expert input, thus ensuring that small businesses and entrepreneurs with few fixed assets can obtain the financing they need to thrive. We greatly appreciate the perseverance and commitment of all the stakeholders to see this legislation come to fruition,” said Alejandro Alvarez de la Campa, IFC Country Manager for Sri Lanka and Maldives.

IFC’s efforts to improve access to finance and foster inclusion in Sri Lanka span across several initiatives. Apart from supporting secured transactions regimes, IFC helped the Central Bank of Sri Lanka launch the country’s first national financial inclusion strategy and develop a financial literacy roadmap, strengthening financial consumer protection and increasing the uptake of digital finance.

December 18, 2023

HNB PLC, a cornerstone in Sri Lanka’s banking industry, continues to champion the cause of Small and Medium Enterprises (SMEs) collaborating with DEVPRO and the Ceylon Chamber of Commerce for the launch of their SME Transformation and Market Access Program.

Conducted at the HNB Towers, the programme specifically targeted SME and Business Banking customers, focusing on those engaged in manufacturing and aspiring to tap into international markets.

The initiative was jointly organised by DEVPRO and HNB, with the participation of an impressive 40 SME customers from both organizations across both days of the programme.

“Through this initiative, we are striving to help Sri Lanka’s SMEs realize their fullest potential. In today’s digital age, even small companies can join global value chains more efficiently, thanks to lowered barriers on digital platforms. The potential for participation has expanded through increased modularization and reduced communication costs, opening new possibilities for businesses of all sizes.

“Emphasizing the importance of connecting Sri Lanka’s SMEs to global value chains, upgrading business models, and adopting environmentally and socially responsible practices, our programme aligns with the vision for a more sustainable and inclusive economic landscape. We believe that empowering SMEs with these capabilities is pivotal not only for their success but also for the overall economic resilience and progress of Sri Lanka,” commented HNB DGM – SME and Microfinance, Rajive Dissanayake.

Facilitated by Upul Dassanayake of ‘Business Boost 360’, the programme provided a platform for SMEs to delve into in-depth discussions and analyses aimed at catalyzing strategic growth. Participants included businesses specializing in spices, coconut, cocoa, bag manufacturing, brush manufacturing, seafood, tea and batik, amongst others.

Ceremonially Opened by HNB DGM – SME and Microfinance, Rajive Dissanayake, the event was graced by notable personnel including the Chamber of Commerce – Head of Centre for SME Unit, Yasura Samarakoon, DEVPRO Executive Director, Tilak Karunaratne, and DEVPRO Programme Manager, Mohamed Shafeer.

Panelists for the program included several of HNB’s senior management, including Head of Trade, Rozanne De Almeida, Senior Manager – Foreign Exchange, Vajira Abeysundara, Head of SME Products and Partnerships, N. Kethiswaran, Head of Refinancing Schemes and Lending Products, Bandara Rekogama, Solutions Manager – PCM, Prasanna De Silva, and Senior Manager – Business Banking, Jude Pillai.

Key focus areas of the programme encompassed export audit and strategic analysis, competency analysis, value chain analysis, financial analysis, product analysis, market analysis (including market research), finding buyers, and inbound and outbound marketing strategies with a comprehensive sales funnel approach.

Consolidating its legacy in sustainability, good governance and corporate excellence, HNB was crowned the Best Corporate Citizen for 2022 at the Ceylon Chamber of Commerce Best Corporate Citizen Awards. HNB was also ranked among the World’s Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine for the sixth consecutive year in 2022. This accolade accompanied HNB being recognized as the Best Bank for SMEs at the Asiamoney Awards 2023, in addition to being crowned the Best Retail Bank in Sri Lanka for the 13th occasion at the prestigious International Excellence in Retail Financial Services Awards 2023 hosted by the Asian Banker Magazine.

December 4, 2023

The Colombo Stock Exchange (CSE) conducted an Issuer Forum titled “ඔබේ ව්‍යපාරයේ ඉදිරි ගමනට නව ප්‍රවේශයක් (A New Approach for the Future of Your Business), in association with the U.S. Agency for International Development (USAID), on 29^th November 2023 in Kandy.

The objective of the forum was to provide an insight for small and medium enterprises to discover capital-raising opportunities available at the CSE via listing on the Empower and Dirisavi Boards of the Exchange. Thus, the program was mostly oriented towards companies in agribusinesses, livestock, energy generation, and tourism-related businesses.

The forum drew interest from many entrepreneurs in the area. The delegation included Mr. Suraj Suraweera, CEO, Chrissworld PLC, Mr. Rohan Senewiratne, Managing Director, Atarah Capital (Pvt) Ltd., Ms. Delrene Seneviratne, Deputy Activity Team Lead, USAID Palladium, Mr. Jude Fernando, Director Financial Facilitation, USAID Palladium, and representing CSE, Mr. Rajeeva Bandaranaike, CEO, Ms. Punyamali Saparamadu, SVP–Commercial, Mr. Kassapa Weerasekara, Senior Assistant Manager–Listing, USAID staff, Mr. Dananjaya Abeysiriwardana Manager Kandy branch and CSE staff members.

Delivering the opening remarks, CSE CEO, Mr. Rajeeva Bandaranaike, said, “Having sustainable capital flows and financial freedom is important in reaching greater heights for a business which can be achieved through capital market instruments.

Expressing his experience with listing, Mr. Suraj Suraweera, CEO, Chrissworld PLC, stated, “Listing has led Chrissworld to obtain recognition and attract quality talent; the value addition from the listing has far outweighed the costs, and it has unlocked our true potential.”

Conducting a session on “Benefits and Misconceptions of Listing at CSE,” Mr. Rohan Seneviratne, Managing Director, Atarah Capital (Pvt) Ltd., stated, “One of the most important aspects of listings is price discovery to reveal a company’s true value, and the key pre-requisite for this will be the mindset change to comply with higher standards.”

An insightful panel discussion was also held on the subject of “Journey towards listing and life after listing” towards the end of the forum, with the participation of Ms. Delrene Seneviratne, Mr. Rohan Senewiratne, Mr. Suraj Suraweera, Mr. Kassapa Weerasekara, and Ms. Punyamali Saparamadu as the moderator.

November 30, 2023

Navigating the complexities of international trade can be daunting for Small and Medium Enterprises (SMEs) in Sri Lanka. Seylan Bank’s game-changing ‘Export Expert’ service is specifically designed to empower SMEs. It is an innovative offering that provides comprehensive support and knowledge-sharing, empowering SMEs to excel in the global market even in these challenging times by equipping them with the necessary financial literacy they require.

In a proactive move to encourage SMEs amidst the pandemic and economic uncertainties, Seylan Bank’s Export Expert service stands out as a beacon of support with its holistic understanding of the needs of SMEs. Seylan Bank’s commitment to the cause is unwavering, as they aim to foster an environment that helps SMEs flourish on a global scale.

Exports can open incredible opportunities of growth for SMEs, and Seylan Bank is a reliable partner in this endeavour. Their specialised financial solutions are tailored to ease the path of international trade. From expert guidance on export documentation to secure confirmation services and pre-shipment facilities, as well as to simplify cross-border transactions and reduce risks. With Export Expert, you can step confidently into the global arena and seize new opportunities.

One of the key advantages of Export Expert is its potential to enhance the competitiveness of SME products in the global market. Seylan Bank’s competitive exchange rates ensure that SMEs may sell their goods at prices that give them an international advantage. Furthermore, Seylan Bank’s attractive loan facilities with favourable interest rates encourage SMEs to invest boldly in their export ventures, driving growth and innovation.

Ranil Dissanayake, Deputy General Manager, Branch Credit at Seylan Bank PLC, stated, “Seylan Bank is dedicated to propelling Sri Lankan SMEs to success on the global stage. Through our Export Expert service, we’re passionate about providing essential support, expert guidance, and tailor-made financial solutions. We believe this will empower SMEs to survive and thrive in international markets. Count on Seylan Bank as your dependable partner in pursuing global opportunities. Together, we’ll contribute to Sri Lanka’s economic growth.”

Seylan Bank’s global network, encompassing over 500 banks across more than 100 countries, allows SMEs to establish strong global trade relationships, enabling SMEs to broaden their horizons and confidently explore new markets. Moreover, the accessibility of Export Expert services at any Seylan Bank branch in the country ensures a seamless and inclusive experience.

In an era marked by economic shifts and uncertainties, Seylan Bank’s Export Expert service emerges as an industry leader, supporting businesses seeking to thrive in the global export landscape. SMEs can break barriers and conquer international markets through Seylan Bank’s tailor-made financial solutions, enhanced competitiveness, and far-reaching network. As Seylan Bank continues to champion the cause of SMEs, they are poised to drive Sri Lanka’s export growth, contributing to the nation’s economic resilience and prosperity.

November 8, 2023

Singer Finance, a pioneering financial service provider trusted by Sri Lankans for decades, recently celebrated the second anniversary of introducing Sri Lanka’s first-ever QR-based mobile money collection service. This innovation reflects their unwavering commitment to revolutionizing financial solutions, with a particular focus on empowering small and medium-sized enterprises (SMEs).

The primary goal is to make savings more accessible and convenient for SMEs. With this initiative, Singer Finance brings the bank to customer’s doorsteps, offering them an easy way to deposit their cash. This exceptional service results from the team’s dedication to understanding the customer’s lifestyle and requirements, culminating in a convenient, QR-based solution.

Thushan Amarasuriya, the CEO of Singer Finance, emphasized, “Singer Finance stands out due to our dedication to innovative customer-centric initiatives. Our QR-based mobile money collection service demonstrates our commitment to simplifying financial processes, making banking easy and convenient.”

The QR-based mobile money collection service is a pioneering step towards empowering SMEs. Singer Finance has strategically placed QR code-equipped tills at shops and business locations, allowing owners and business proprietors to deposit cash directly into their savings accounts, including the savings for their children through “Muthu” minor savings accounts of Singer Finance. When they are ready to make a deposit, they simply scan the QR code with their mobile phones. Singer Finance deposit representatives will promptly visit, using GPS location tracking, to collect cash and validate the entire transaction digitally. The collected cash is then securely deposited into their respective Singer Finance savings accounts as a real-time transaction.

Moreover, this initiative not only offers convenience but also contributes to financial inclusion, bridging the gap for those with limited access to traditional banking infrastructure or online banking services.

Sampath Jayarathne, The National Head of Liability Sales & Marketing, at Singer Finance, further stated, “This initiative goes beyond convenience, it enables financial inclusion and simplifies the banking experience for all. SMEs are the backbone of our economy, and we are committed to helping them grow and succeed.”

Singer Finance invites you to join them in celebrating this milestone as they continue to make savings more accessible, convenient, and rewarding. They remain committed to providing the best financial services in Sri Lanka, with a focus on exclusive offerings tailored to empower SMEs. Singer Finance encourages all its existing and potential customers, especially SMEs, to take advantage of this exceptional service and experience a new level of financial convenience.

July 21, 2023

One in every three loans provided to small and medium enterprises (SMEs) in Sri Lanka by lending institutions in 2022 was by the Commercial Bank of Ceylon, recently released official government figures reveal.

This emphatic reaffirmation of Commercial Bank’s status as the largest lender by far to the country’s SME sector comes in the 2022 Annual Report of the Ministry of Finance, which shows that the Commercial Bank accounted for 34.2% of the total loans provided to the SME sector by commercial and specialised banks.

Commercial Bank lent Rs 195.852 billion out of Rs 619.891 billion in loans provided to SMEs by the 18 institutions in 2022, while the number of loans granted by the Bank was 43,427 from the total of 126,899 loans granted in the reviewed year. Commercial Bank’s contribution was particularly evident in the industries category, with the Bank accounting for more than half of the total number of loans provided to the category by all banks.

Commenting on this important validation of the Bank’s contribution to the country, Commercial Bank’s Managing Director/ CEO Mr Sanath Manatunge said: “In our journey of fulfilling our vision and mission as well as our duty as a bank that is systemically important to the national economy, it is deeply satisfying to see that we are making a truly significant contribution to the SME sector, even in challenging times. This is made possible by our continued commitment to this all-important segment supported by dedicated processes and infrastructure to cater to specific needs of SMEs. Our financial experience built on decades of prudent management, and our adherence to core values and fundamentals definitely add value in catering to these customers.”

He said the Bank objectively assesses the financial requirement of SMEs and seeks lending opportunities in targeted segments such as exports, local manufacture and import substitution industries, to which financial assistance is extended through the concessionary credit lines secured by the Bank.

In order to revitalise businesses that are under-performing due to various reasons, the Bank setup a Business Revival and Rehabilitation Unit in 2020 to proactively support businesses that show early warning signals. During the year under review, the special unit assisted many SMEs while providing support services to regenerate their momentum.

SMEs have also faced difficulties in sustaining their operations due to other factors, including the shortage of foreign currency reserves, import restrictions, supply disruptions and resource mobilisation limitations in the reviewed year. The Bank said it has adopted a systematic approach to help manage various challenges, creating fair opportunities for all customers.

The Bank has made significant contributions to develop the businesses of SMEs by conducting capacity building programmes, creating value chains, creating networking opportunities, conducting trade fairs and encouraging SMEs to go digital. The Bank said it firmly believes that empowering SMEs not only strengthens the economy but also fosters employment opportunities, drives innovation and boosts overall prosperity.

Commercial Bank recently launched a comprehensive Business ecosystem branded ‘Commercial Bank LEAP GlobalLinker’ – a digital platform designed to help businesses, particularly small and medium-sized enterprises, to transition to the global market by digitizing and networking with other businesses across borders. Built in compliance with international standards and powered by GlobalLinker, the platform makes it possible to create online stores and to promote their products and services, expand their network of customers, investors, and suppliers domestically and internationally, in order to grow and to be competitive in the global landscape.

Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 12 years consecutively, Commercial Bank operates a network of 271 branches, 957 automated machines, 14 Regional SME Managers and 19 Agriculture and Microfinance Officers in rural areas of Sri Lanka to assist SMEs. Commercial Bank is also a leader in digital innovation in the country’s Banking sector. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 20 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake

June 30, 2023

27 June 2023, Colombo: In line with its commitment to supporting Small and Medium Enterprises (SMEs) and driving the Sri Lankan economy towards prosperity, Seylan Bank, recently organised an enlightening event for business community in the Southern Province. The event, held on recently at the Aradhana Hotel in Galle, gathered over 100 participants who benefited from the guidance and mentorship provided by Seylan Bank officials.

With focus on empowering local businesses, the event covered several key topics essential to business growth and success. Participants gained valuable insights into financial management, recognizing its critical role in sustaining business operations and ensuring sustainable growth. The discussions also shed light on how social media platforms may be used as a medium to market products, build brands and engage both local and global customers.

Key officials representing the local Government and Government Agency also shared their insights with the participants. This included Piumali Liyanage, Divisional Secretary – Bope Poddala Divisional Secretariat and Muthuhetti Gamage Bandula, Deputy Director – Industrial Development Board. The Chamber of Commerce – Galle District, was also represented by CEO Saliya Roshan Pushpakumara and Project Manager Kapila Chandana.

One of the highlights of the event was the emphasis on refinance loan schemes and their availability. Participants were provided with detailed information on how to access refinance loans to bolster their financial capabilities and facilitate their expansion plans. Seylan Bank, recognizing the significance of SMEs in driving economic growth, aims to provide simplified financial solutions, that support their development.

‘Digital transformation’ emerged as another prominent theme, with Seylan Bank showcasing the availability of digital channels tailored to streamline and simplify various business processes. Participants were introduced to innovative digital marketing tools that can enable them to tap into new markets, promote local products, and expand their customer base beyond traditional boundaries.

Seylan Bank’s dedication to mentoring local business entrepreneurs aligns with the bank’s broader mission to foster economic growth and enhance financial inclusion in Sri Lanka. By continuously engaging with local businesses and offering specialised services, Seylan Bank reaffirms its commitment to creating an enabling environment for the growth and success of home grown business. To this effect, it is expected that similar events will be hosted by Seylan Bank across many regions in the nation.

October 17, 2022

Sri Lanka’s leading private sector bank, HNB PLC, together with HNB Assurance, has launched a Group Term Policy for small and medium-sized enterprises (SMEs) to facilitate risk protection coverage for a minimum of 10 employees.

HNBA will offer a uniformed ‘One Single Policy’ for all staff members of the enterprises. The benefits are derived by the employees of SMEs and employers as it provides a wide range of risk coverage. HNB Deputy General Manager Retail & SME Banking Sanjay Wijemanna and HNBA Chief Executive officer Lasitha Wimalaratne were present to at the occasion.

“SMEs are the key driving force of our economy and as a bank that has worked closely with them over the years we are delighted to be supporting them further during these turbulent times. The Group Term Policy we have introduced in partnership with HNBA will support these enterprises which make up the backbone of our economy,” HNB Assistant General Manager Kailaivasan Indravasan said.

Notably, SME employees will have the option of an annually renewable policy and the convenience of customizing their package to their requirements and preferences. The policy will provide cover for the family in the unfortunate event of an employee’s death, total permanent disability, critical illness, and other health-related problems. Employees can also obtain funds to pay their hospital bills on a per-day basis.

Moreover, in an event of death, unique salary protection coverage is also provided for the family by HNBA.

“Given the current economic situation, the cost of health care is increasing on a daily basis. Every employee is equal, and such health assurance measures should also be provided to employees of small enterprises, especially at its inception. Therefore, as a responsible company working with different industries, we intend to provide these services for those who require them,” HNBA Assistant General Manager Lasitha Wimalaratne said.

With the use of internal Risk Management Solutions, HNBA will identify potential SME clients to grant Group Term Policy benefits.

HNB has been closely linked to the growth of Sri Lankan enterprises since its establishment and, by the 1980s, became the first private sector commercial bank to enter the MSME sector with the specific purpose of fostering growth and wealth creation in Sri Lanka’s rural economy.

April 1, 2022

The comprehensive 8-week program will help strengthen participants’ governance, regulatory compliance, and risk management capabilities

CAPE TOWN, South Africa, March 31, 2022/APO Group/ —

Africa Women Innovation and Entrepreneurship Forum (AWIEF) (www.AWIEForum.org) in partnership with USAID Southern Africa Trade and Investment Hub (USAID TradeHub) is proud to launch a new program which will increase the investor, export readiness and competitiveness of 100 SMEs in Southern Africa.

The USAID funded ‘Enhanced Small Medium Enterprises (SMEs) Investment and Export Readiness Through a Digital Platform’ program is aimed at SMEs in Angola, Botswana, Eswatini, Lesotho, Malawi, Mozambique, Namibia, South Africa, and Zambia who are either already exporting or interested in exporting products to South Africa and/or to the United States.

The program aims to leverage the African Growth and Opportunity Act (AGOA), a United States Trade Act that significantly enhances market access to the US for qualifying Sub-Saharan African (SSA) countries, and valid until 2025, to drive export trade for the SMEs.

The objectives of this new AWIEF program are to: (a) increase exports from the Southern African countries to South Africa; (b) increase exports from all the nine targeted Southern African countries to the US, leveraging AGOA; and (c) support firms seeking specific trade-related technology transfer (e.g. labelling, branding, laboratories).

The comprehensive 8-week program will help strengthen participants’ governance, regulatory compliance, and risk management capabilities and will be implemented as an online training course through the AWIEF digital platform – the AWIEF Community.

AWIEF Founder and CEO, Irene Ochem says: “We are very excited to have won this project funding from USAID and to be partnering with USAID TradeHub. SMEs are the power engines of Africa economies and represent the bulk of all businesses in Africa. This program is about supporting Southern African entrepreneurs to expand their businesses by accessing new markets and trading beyond their borders. It is also important for SMEs to leverage the huge opportunities offered by AGOA to enter into international trade with the US.”

Call for applications
Applications are invited from all SMEs that are registered in the above-mentioned Southern African countries. Priority industry sectors include: Agriculture, Agro-processing, Textiles and Apparel.

To submit your application, please follow this link: https://bit.ly/374UYyg

The deadline for submission is Monday, April 11, 2022 at 11:59pm Central African Time (CAT). Applications will only be accepted through the link above.

Program Timeline
Applications open: Thursday, March 31, 2022.
Applications close: Monday, April 11, 2022 at 11:59pm CAT.
Recruitment: Tuesday, April 12 to Friday, April 22, 2022.
Program starts: Tuesday, 3 May 2022.

Older Posts

ComBank stimulates opportunities for SMEs with Trade Fair in Colombo

New Secured Transactions Registry to Help Expand Financing for Small Businesses in Sri Lanka

SMEs at the forefront: HNB launches a Transformation Programme for global and local markets

CSE and USAID conducted an Issuer Forum in Kandy, providing insights on capital raising opportunities for SMEs in the region.

Elevating Small and Medium Enterprises (SMEs) with Seylan Bank’s ‘Export Expert’

SINGER Finance Marks Two Years of Empowering SMEs with Sri Lanka’s First QR-Based Mobile Money Collection Service

ComBank reaffirmed as biggest lender to Sri Lanka’s SME sector in 2022

Seylan Bank mentors business community at insightful event in Galle

HNB together with HNBA launches Group Term Policy for SME employees

AWIEF launches a USAID funded program: Enhanced Small Medium Enterprises (SMEs) Investment and Export Readiness Through a Digital Platform