Acuity Partners gets key contract to boost MSMEs

Wednesday, 20 September 2023 00:34 - - {{hitsCtrl.values.hits}}

Selected as Investment Advisory Service provider for USAID CATALYZE Private Sector Development Activity’s Funding Readiness Program

Acuity Partners yesterday announced that it has been contracted as an Investment Advisory Service Provider for the USAID CATALYZE Private Sector Development (PSD) Activity’s funding readiness program, aimed at bolstering private capital in critical sectors of Sri Lanka’s economy.

This engagement underscores its commitment to fostering inclusive economic growth and facilitating affordable financing access for Micro, Small, and Medium Enterprises (MSMEs) operating in Sri Lanka.

As part of this initiative, Acuity Partners will provide advisory services actively identifying potential MSMEs for assistance, with special emphasis on supporting women-led entities. Services provided will encompass essential areas, including facilitating credit and investment through financial institutions, aiding in debt restructuring, securing financing through the EMPOWER Board, and facilitating credit and investment opportunities from private equity investors.

Acuity Partners Senior Vice President of Corporate Finance Amani Ranaweera said: “USAID CATALYZE PSDs funding readiness program provides an excellent opportunity for MSMEs to gain access to funding which will help these entities to realise the true potential of their organisations. Given the challenges faced by MSMEs over the past few years due to external factors, this would be the ideal timing as well as the most opportune of moments to leverage on. At Acuity we are committed to assisting MSMEs to identify the most suitable approach to raise funds whilst adding significant value to their organisations.”

Through the USAID CATALYZE Private Sector Development (PSD) Activity, USAID Sri Lanka enhances private capital infusion into crucial sectors of the Sri Lankan economy. These initiatives actively promote inclusive economic growth and facilitate accessible financing avenues. This, in turn, empowers enterprises to transition into their next growth phase, contributing significantly to recovery and economic stability.

Acuity Partners is a leading investment bank in Sri Lanka and is jointly owned by two of the largest commercial banks in the country, HNB PLC and DFCC Bank PLC. Acuity is proud to have concluded transactions covering equity, debt and advisory services amounting to over Rs. 200 billion whilst being directly involved in some of the most innovative and landmark transactions in the capital market space in Sri Lanka.