Unlocking women’s economic potential is key to creating jobs and driving inclusive growth in Sri Lanka. Despite gains in corporate board representation, lasting progress demands collective action to remove barriers blocking women’s access to jobs and career growth.
Reaffirming the commitment to advancing women’s economic empowerment and leadership in Sri Lanka, the Colombo Stock Exchange (CSE), International Finance Corporation (IFC) – a World Bank Group member – and global partners including UN Women and the United Nations Global Compact, came together for a ceremonial opening bell ringing. This annual initiative, aligned with International Women’s Day, champions women’s economic participation to drive sustainable development.
Notably, this year’s women’s representation on CSE-listed boards reached 13.7 percent, a modest yet meaningful increase from last year’s 13.4 percent. While the increase signals ongoing dedication to advancing women’s leadership in Sri Lankan businesses, it also reflects the need for continued efforts to expand opportunities for women to contribute at the highest levels of management and governance.
Nilupa Perera, Chief Regulatory Officer of the CSE, remarked in her welcome address, “Women who enter any space of employment asks themselves if there is a place for them, both in the company and in the company leadership. Our answer, through our actions, our leadership, and events like this one, is a resounding yes. Studies consistently show that women who see strong female leadership in senior roles are far more likely to aspire to leadership themselves. Representation is not just symbolic, it is transformative. Women in leadership demonstrate what is possible.”
“Sri Lanka’s future hinges on inclusive growth – which is only possible when the economy works for both men and women. When women are empowered and employed, it reaches far beyond individual lives – it fortifies her family and transforms her entire community. At the World Bank Group, our commitment to job creation is rooted in a simple reality: a job is the surest path to dignity and poverty reduction. For that mission to succeed, women must be at the very center of the workforce,” said Gevorg Sargsyan, Country Manager for World Bank Group in Sri Lanka and Maldives.
Advancing women’s economic empowerment can yield substantial financial benefits for the private sector, contributing to notable improvements in economic, environmental, social, and governance outcomes across emerging markets. Organizations that achieve balanced representation on their boards and executive teams are better equipped to make well-informed decisions, manage risks efficiently, and create enduring, sustainable value.
In her keynote speech, Jayanthi Dharmasena, Managing Director of Hayleys Agriculture Holdings Ltd stated, “’If this country wants inclusive growth, then we must unlock the full potential and economic power of women. We must ensure women feel wanted – because if we do not take the conscious effort to make them feel wanted, assist them in their journey and value their contribution as significant to the economy, their desire to act will also diminish.”
Nandini Sukumar, CEO of the World Federation of Exchanges, commented, “In honour of International Women’s Day, Exchanges and CCPs are highlighting the importance of fostering inclusive financial markets. Our members are leading the industry in empowering women to invest and trade in safe and trusted environments, enabling them to finance their futures.”
This year’s International Women’s Day calls for action to dismantle discriminatory laws, strengthen weak legal protections, and erase harmful practices and social norms that erode the rights of women and girls. Stock exchanges are positioned to influence this by helping connect companies, investors, and policymakers in rallying the private sector to increase women’s participation in business and economic development.
The Ring the Bell for Gender Equality Initiative – a global partnership that includes IFC, United Nations Global Compact, UN SSE, UN Women, and The World Federation of Exchanges – advocates for the full and equal participation of allpeople to achieve the Sustainable Development Goals and create a world free of poverty on a livable planet. This year 114 participating exchanges and CCPs participate in the initiative.
Photograph Caption
(L-R) Ms. Nilanthi Sivapragasam, Group CFO of Aitken Spence PLC and Board Member of UN Global Compact Network Sri Lanka; Ms. Savani Jayasooriya – Communications Officer IFC Sri Lanka and Maldives; Ms. Nilupa Perera, CRO – CSE; Mr. Rajeeva Bandaranaike, CEO – CSE; Ms. Jayanthi Dharmasena, Managing Director – Hayleys Agriculture Holdings Ltd; Prof. D.B.P.H. Dissabandara, Chairman – Securities & Exchange Commission of Sri Lanka; Mr. Dimuthu Abeyesekera, Chairman – Colombo Stock Exchange; Ms. Rukshila Gooneratne – Operations Officer, Country Management Unit, IFC Sri Lanka and Maldives; Ms. Ramaaya Salgado, Head of Office, UN Women Sri Lanka.
