Meta partners with NYSC to boost economic growth in Sri Lanka

Meta, formerly known as Facebook, has partnered with Sri Lanka’s National Youth Services Council (NYSC) to launch an entrepreneurship program boosting economic growth for the country. 

Through the initiative Meta Boost, the program aims to train around 750 Youth Services Officers of NYSC, who will in turn empower more than 50,000 local entrepreneurs who are using digital platforms to grow their businesses.

This training is a part of NYSC’s Hope 4 Sri Lanka initiative that connects thousands of entrepreneurs across the country with funding, resources and knowledge. Meta Boost will help them utilise online platforms to reach their markets and engage with customers.

At the launching ceremony, Minister of Sports and Youth and State Minister of Digital Technology and Enterprise Development Namal Rajapaksa, spoke about the importance of digital skills to support the country’s economic development. 

“In today’s Digital Sri Lanka, it is important to build the capacity of entrepreneurs that are making a huge impact on our economy,” said Minister Rajapaksa. “We are encouraged by programs like Meta Boost and the Hope 4 Sri Lanka initiative of the National Youth Services Council that support entrepreneurs and help them drive business. We thank Meta for the partnership as we continue to build a hopeful future where businesses thrive.”

NYSC Chairman Damitha Wickramasinghe also spoke at the event and appreciated how Meta identifies needs of the country and designs its programs in collaboration with key stakeholders to support economic development and the digital economy of Sri Lanka.

A recent survey conducted by DAI Global in partnership with IPSOS, shows that half of surveyed small and medium businesses in Sri Lanka used digital tools for business purposes last year. Around 83% of them believe that Meta apps helped them adapt during the pandemic. However, both online and offline entrepreneurs said they faced difficulties when using online platforms – 45% of them think it is due to their lack of knowledge of how to utilise digital tools. 

“The COVID-19 pandemic has caused economic challenges for people around the world,” said Meta Head of Public Policy for South Asia Sarim Aziz. “At Meta, we understand that it’s crucial to provide training to small businesses so they can navigate digital platforms and the tools that are available to them. We are happy to partner with NYSC to support Sri Lankan entrepreneurs and play a part in boosting the country’s economic development.”

Through the Meta Boost program, the company has been supporting local entrepreneurs around the world and helping them stay resilient and grow their businesses, even during the pandemic. To know more about how Meta helps businesses find and engage with customers, check out Meta for Business.