LOLC’s Eyes On Former Soviet Nations  
Posted 6,June

By Chaveendra Dunuwille

In Local News

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Sri Lanka’s most profitable conglomerate- the LOLC Group – has set its sights on  investments in the former soviet states, with the south Asian, and African markets already  under their belt. The Group is currently exploring their opportunities in the financial space in  countries like Uzbekistan, Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Moldova,  Turkmenistan, Tajikistan etc. An official stated that the economic growth in most of these  nations is linked to the growth of medium, small and micro enterprises (MSMEs) in three  important sectors of the economy – trade and services, transportation, and agriculture.  “Increased awareness of the underestimated role of MSMEs in the production of agricultural  exports may contribute to the revitalization of agricultural growth within the context of  limited natural and financial resources”, he said.  

LOLC’s financial services footprint now stretches across Cambodia, Myanmar, Pakistan,  Philippines, Indonesia, Nigeria and Zambia. Their global expansion strategy for the financial  services sector in Africa remains a key focus, with plans being made for expanding into more  markets, the official added.