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Softlogic Finance Posts Record 146% Increase Year-on-Year in Net Interest Income

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Secured lending portfolio and management restructuring process yields early results

Tuesday, May 31, 2022 – Softlogic Finance PLC, a subsidiary of Softlogic Capital PLC, has posted a Net Interest Income of LKR 1.35 Billion year to date (YTD) as at March 31,2022 recording a 146% Year-on-Year (YoY) increase despite the challenging operating environment. Net Income for 4Q 2021/22 was LKR 502 Million in comparison to the LKR 318 Million in 4Q 2020/21, adding up to a YTD Net Income of LKR 1.6 Billion. The company attributed the promising results to its growth strategy focused on a new secured lending portfolio that has accrued only 0.8% in non-performing loans and the management restructuring process, which the business went through in the previous financial year.

The company’s Operating Profit rose to LKR 275 Million YTD, in unaudited figures, in comparison to a loss of Rs. 520 Million in the corresponding period of the previous year. Softlogic Finance maintained the Capital Adequacy Ratios above regulatory requirements in the period under review, with the Tier 1 Capital Ratio at 8.33% and the Total Capital Ratio at 12.83%. The company grew its secured lending portfolio during the financial year 2022, with Leasing growing by 108% YoY in comparison to the corresponding period in 2021, whilst Pawning grew by 39%.

Commenting on the company’s financial situation, Priyantha Wijesekera, Chief Executive Officer at Softlogic Finance PLC stated, “Softlogic Finance is operating in a robust financial position today as a result of the prudent financial measures that were put in place in the past two years. These efforts were further boosted by the restructuring of the senior management. Whilst legacy issues from previous years still exist, the company is making provisions for it as per industry best practices. However, the actual growth of the company is on a healthy trajectory and will be reflected in the financial results in the next financial year. This stable growth was affirmed with the upgrading of the company rating by ICRA Lanka to (SL)BB Stable even during an economic downturn.”

Softlogic Finance has made a prudent decision to make additional impairment provisions against the legacy portfolio at the end of Q4 2022 and made adjustments to the management accounts. This action that will yield long term benefit to the stakeholders resulted in the net loss of LKR 727 Million YTD in this financial year, adjusted from a Profit After Tax of LKR 34 Million as at the end of 4Q 2022.

Softlogic Holdings PLC is known to be one of Sri Lanka’s most dynamic and progressive conglomerates, with industry leadership in key business verticals, being present across ICT, Healthcare, Retail, Financial Services, Automobiles and Leisure. Softlogic Finance is a registered finance company under the Finance Business Act No. 42 of 2011.

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Cassava Technologies becomes an authorised reseller of Claude on Amazon Bedrock

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The agreement allows Cassava to give organisations across Africa another route to access these capabilities, helping them adopt AI technology more easily as they prepare for future growth

LONDON, United Kingdom, October 27, 2026/APO Group/ –Cassava Technologies (www.CassavaTechnologies.com), a global technology leader, has become authorised to resell access to Anthropic’s Claude models through Amazon Bedrock.

Claude is Anthropic’s state-of-the-art large language model, offering features like advanced reasoning, vision analysis, code generation, and multilingual processing. The agreement allows Cassava to give organisations across Africa another route to access these capabilities, helping them adopt AI technology more easily as they prepare for future growth.

 




  

Our goal is simple, advanced AI within reach of every business, government, researcher, entrepreneur and university across the emerging markets globally

“What matters to our customers is being able to use AI in their business, and that starts with access to the best models. Bringing Anthropic’s Claude to them through Amazon Bedrock delivers on this need, which is supported by the infrastructure, partnerships and services African businesses need to adopt them responsibly and take a greater part in the digital economy. Our goal is simple, advanced AI within reach of every business, government, researcher, entrepreneur and university across the emerging markets globally,” said Hardy Pemhiwa, President and Group CEO of Cassava Technologies.

 

Through Amazon Bedrock, organisations can access Anthropic’s Claude models and incorporate them into their own applications and services. Cassava’s authorised reseller status gives African customers a way to access Claude through a local partner focused on serving businesses across the continent.

 

Through its digital ecosystem, which encompasses connectivity, cloud, cyber security and AI solutions, along with a continent-wide data centre footprint, Cassava is investing in the infrastructure and solutions needed to support the wider adoption of artificial intelligence across Africa.

Distributed by APO Group on behalf of Cassava Technologies.

 

 




 

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Industrial competitiveness takes centre stage at C&I Energy + Storage Summit Johannesburg

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C&I Energy

The summit opens with a shared question: how can businesses protect production and investment while navigating changes to the systems that supply their energy and water

JOHANNESBURG, South Africa, October 27, 2026/APO Group/ –Rising electricity and water costs, changing energy procurement options and pressure to decarbonise are putting South Africa’s industrial competitiveness under scrutiny. These challenges will lead the opening agenda of the C&I Energy + Storage Summit Johannesburg, which begins tomorrow, bringing the relationship between infrastructure resilience and business performance into focus.

Held alongside the Energy Intensive Users Group (EIUG) Conference, Data Centre Summit and Water Security Africa on 28–29 October, the summit opens with a shared question: how can businesses protect production and investment while navigating changes to the systems that supply their energy and water?

 




  

Following welcomes from Chanelle Hingston, VUKA Group Director: Power, Energy & Water, and EIUG Chairman Murendeni Matshinyatsimbi, NTCSA CEO Monde Bala will deliver the keynote address. He is expected to explore how grid expansion, fair access and system reliability can support a competitive electricity market and unlock industrial investment.

These opening contributions will set the context for the keynote panel, “Threats and opportunities in South Africa’s industrial future”. Moderated by Kay Walsh, Managing Director of Nova Economics, the discussion brings together Gaylor Montmasson-Clair, Founding Director of Southern Transitions; Charles Dos Santos, Managing Director of Air Products South Africa; and Lubabalo Luyaba, Senior Water Specialist at the World Bank.

The panel will examine how escalating tariffs, electricity market reform and pressure on water resources are influencing industrial competitiveness. Wheeling frameworks, market liquidity and regulatory clarity will feature alongside the growing need for resilient water supply and better water management.

For commercial and industrial businesses, these issues have direct implications for operating costs, procurement decisions and long-term investment. The discussion will explore how companies can manage regulatory uncertainty, strengthen resilience and assess opportunities in energy procurement and carbon markets.

Water security will receive further attention through a keynote address and MOU signing featuring Ramateu Monyokolo, Chairperson of AWSISA. Earlier morning discussions will ask what a loss of Johannesburg’s water supply would mean for business and explore water’s role as a strategic asset.

The opening agenda will lead into practical Day 1 sessions on reducing energy costs, electricity market reform and financing the transition. Industrial case studies from Isuzu Motors South Africa, Sibanye-Stillwater and Harmony Gold Mining Company will examine approaches to cost certainty and energy security.

Across the day, the emphasis will be on decisions businesses can act on: improving efficiency, diversifying supply and investing in infrastructure that supports reliable operations and sustained competitiveness.

Sponsors across the events include WEG, Gold Sponsor; Standard Bank, Gold and Registration Sponsor; Huawei, EIUG Gold and Registration Sponsor; NOA and South32, EIUG Gold Sponsors; Envusa Energy, Scatec (Lyra) and Seriti Green, EIUG Silver Sponsors; LONGi and MATTLA Engineering Solutions, Bronze Sponsors; Africa International Advisors, EIUG Bronze Sponsor; Webber Wentzel, Water Bronze Sponsor; and Air Liquide and Air Products, Session Sponsors.

Download the full programme to explore the keynote speakers, industry case studies and practical sessions taking place on 28–29 October: https://apo-opa.co/4sqc9QL

Distributed by APO Group on behalf of VUKA Group.

 




 

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Idris Elba’s Akuna Group launches free Artificial Intelligence (AI) filmmaking programme for creators in five African countries, in collaboration with Google

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Over fifty weeks, selected creators will move from a twelve-week academy into mentoring, pitching and production; Selected funded teams will make their films, which will be showcased in October 2027

Creators need a route from the classroom to the screen, and this programme carries them all the way, from their first application to a finished, funded film

FREETOWN, Sierra Leone, October 26, 2026/APO Group/ —An AI filmmaking programme for African creators opens today in Ghana, Kenya, Nigeria, Sierra Leone and South Africa. Applications are live at (https://AkunaLearning.com).

Akuna Learning, from The Akuna Group, chaired by Sir Idris Elba, today opened applications for From Script to Screen with AI, a free programme that equips eligible African creators to tell stories on screen leveraging artificial intelligence. Delivered in collaboration with Google and supported by US$1 million funding from Google.org, with curriculum developed by Curious Refuge, the programme is open to aspiring filmmakers in Ghana, Kenya, Nigeria, Sierra Leone and South Africa.

 




 
 

Applications are open now at (https://AkunaLearning.com) and close on 15 November 2026. The programme is free to apply and, for those selected, free to attend.

Over fifty weeks, selected creators will move from a twelve-week academy into mentoring, pitching and production. Selected funded teams will make their films, which will be showcased in October 2027. Creators will maintain control of their work, with no claim of ownership rights by the programme or partners running it.

From foundation to funded film

Every participant will complete a foundational course in AI filmmaking; then participants will be able to choose to specialise in one of five creative pathways:

  • Fiction: narrative filmmaking and scripted storytelling, from short film to series.
  • Documentary: real-world stories and factual filmmaking.
  • Animation: animated storytelling, motion design and visual world-building.
  • Advertising: branded storytelling, commercial content and creative campaigns.
  • Screenwriting: script development, dialogue and structure, writing from page to screen.

The programme is structured in five stages:

  1. Applications & Selection (October 2026 to January 2027). One open call across all five countries, closing on 15 November 2026, with review panels in each country and a final panel looking across all five.
  2. Learn & Get Certified (February to April 2027). Twelve weeks of online training with Curious Refuge, with weekly Akuna facilitation, in-person meet-ups in every country and certification at the end.
  3. Get Mentoring (April to June 2027). Graduates put forward their own one-page ideas. Shortlisted idea owners build teams, which then spend four weeks with mentors and subject experts.
  4. Pitch Your Film (June to July 2027). Mentor-endorsed teams pitch to panels drawn from Akuna, Google and the wider industry. Selected projects are funded.
  5. Produce Your Film (July to October 2027). Funded teams make their films with creative and technical support, then take them to festivals and showcases. The programme is for aspiring and emerging visual storytellers: filmmakers, screenwriters, animators, advertisers, digital content creators, photographers, designers, editors and visual artists. Applicants do not need AI experience, a film school qualification or a set number of years in the industry.

 

Sir Idris Elba, Chairman of The Akuna Group, said: “For me, this is about learning. This is about access to courses that help educate creators across the continent to tell their stories. Through Akuna Learning, we’re partnering with Google and Curious Refuge on ‘From Script to Screen with AI’, a remarkable training and mentorship programme teaching African filmmakers to use AI tools. Selected projects will receive production funding, and creators will retain control of their work. I’m looking forward to seeing the stories they choose, and how the education leads to employment and self-momentum, but helps shape the narrative of Africa.”

Khaled Gad, Chief Executive Officer of The Akuna Group, said: “Training on its own does not build an industry. Creators need a route from the classroom to the screen, and this programme carries them all the way, from their first application to a finished, funded film. It opens on the same day and runs to the same standard in all five countries. You do not need a film school background or any experience with AI to apply. You need finished work that shows what you can do, and your application in by 15 November.”

How to apply

Applications are submitted online at (https://AkunaLearning.com) between 26 October and 15 November 2026. Applicants must:

  • physically reside in Ghana, Kenya, Nigeria, Sierra Leone or South Africa;
  • be 18 or older on the date of application;
  • have access to a laptop, reliable internet and consistent power for the duration of the programme;
  • be able to commit fully to the twelve-week academy from February to April 2027, and to the later stages if they progress.

Applicants should include existing creative work, however modest, that shows their talent and commitment. Women are strongly encouraged to apply.

Distributed by APO Group on behalf of The Akuna Group.

 

 




 

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