LOLC appoints Ishara Nanayakkara as Executive Chairman

LOLC Holdings PLC has announced the appointment of Mr. Ishara Nanayakkara as its Executive Chairman, effective immediately. The Board of Directors made the decision today (5th June 2025), following a review and recommendation by the Nominations & Governance Committee.

Mr. Nanayakkara, who previously served as the Group’s Executive Deputy Chairman, brings with him over two decades of leadership experience at LOLC. He first joined the Board in 2002 after making a strategic investment in the company.

A prominent entrepreneur, Mr. Nanayakkara has transformed LOLC into the country’s most profitable conglomerate and a global financial powerhouse, particularly through its dynamic MSME platforms across Asia and Africa. His expertise in microfinance has influenced institutions in countries including Sri Lanka, Cambodia, Myanmar, Pakistan, Indonesia, the Philippines, Zambia, Nigeria, and beyond.

He has also played a pivotal role in diversifying LOLC’s business portfolio into insurance, leisure, plantations, manufacturing, construction, and biotechnology. His strategic vision includes renewable energy initiatives such as the Group’s ethanol and power venture in Sierra Leone, the largest of its kind in Africa.

Mr. Nanayakkara is also known for his role as a former Chairman of the Sri Lanka Institute of Nano-Technology and for his pioneering work in converting graphite to graphene. His international recognition includes accolades from INSEAD and the Asia Pacific Entrepreneurship Awards.

LOLC confirmed that, in accordance with Listing Rules and governance standards, a Senior Independent Director was appointed in October 2023.