Kogi Gov Justifies Airport Project

Kogi State Governor, Usman Ododo, has defended the state’s international airport project at Zariagi, near Lokoja, describing it as a strategic investment to unlock the state’s economic potential, improve connectivity and attract investment.

Ododo spoke on Tuesday during an inspection visit to the ongoing project, where he expressed satisfaction with the pace of construction and credited President Bola Tinubu’s support for enabling the state to pursue the infrastructure initiative.

The governor said Kogi’s geographical location, with access to several major commercial centres, including the Federal Capital Territory, made an airport a strategic necessity for strengthening economic activities and connectivity.

He noted that despite the state’s location and commercial links, Kogi had operated without its own airport until the Tinubu administration approved the project and supported its execution.

Ododo said his administration would continue to monitor construction to ensure compliance with required standards and timelines, expressing optimism that the project would reach an advanced stage of development by next year.

He also urged critics questioning the feasibility of the airport project to visit the site and assess the level of work, insisting that construction was progressing beyond claims circulating about the initiative.

‘Please, I want them to come here to see things by themselves. It is not an AI thing. You can see the equipment working, and they are working day and night. We are not going to make noise about it; we invite them to come and see,’ he said.

Ododo described Tinubu’s support for the project as evidence of the Federal Government’s commitment to extending critical infrastructure development to states, adding that the airport was intended to deliver long-term benefits to Kogi residents.

Beyond promises on paper: Sri Lanka must deliver on investments it wins

Much of the policy discussion centres on attracting new investors through roadshows, investment forums and incentive packages. However, less attention is given to an equally important aspect of the FDI story, retaining the investments already secured. Every project that is withdrawn, delayed or stalled sends a powerful signal to the wider market, often speaking far louder than any promotional campaign.

Two recent cases make the point. China Merchants Port Holdings (CMPort) withdrew from its planned $ 392 million logistics hub project at the Port of Colombo in October. Meanwhile, Sinopec’s proposed $ 3.7 billion refinery project in Hambantota, considered the largest FDI commitment in Sri Lanka’s history, remains at a standstill despite the signing of the MoU.

Lost opportunity at Colombo Port

On 15 October CMPort exited the commercial and logistics hub project following a mutually agreed settlement with its Sri Lankan partners, Access Engineering, and the Sri Lanka Ports Authority. Established through a joint venture company, the South Asia Commercial and Logistics Hub was envisaged as South Asia’s largest integrated commercial and logistics hub, aimed at strengthening Sri Lanka’s position as a regional trade and maritime centre.

In 2023, an agreement was signed for the construction and operation of the facility under a 50 year Build-Operate-Transfer (BOT) arrangement. Under the agreement, CMPort held a 70% stake in the project, while the Sri Lanka Ports Authority and Access Engineering each held 15%.

The decision to withdraw from the investment was driven by concerns relating to the project’s implementation environment, timelines and commercial considerations while some local observers attribute the withdrawal to broader geopolitical pressures. Following the project’s termination, the Sri Lanka Ports Authority has announced plans to develop a new logistics hub through a competitive public private partnership (PPP) model.

It is important to emphasise that CMPort is not leaving Sri Lanka. The company continues to operate the container terminal at the Port of Colombo and remains involved in the Hambantota Port. However, that is precisely the point, when an investor that has already established a long term presence in the country decides to withdraw from a new project, potential investors take notice.

Sinopec’s Hambantota refinery: Biggest deal still on paper

In January 2025, Sri Lanka signed an agreement with Sinopec for a $ 3.7 billion refinery project in Hambantota with a planned processing capacity of 200,000 barrels per day, a significant portion of which is intended for export market. The project is set to represent the largest FDI commitment in the country’s history. For context, Sri Lanka’s only existing refinery at Sapugaskanda has a processing capacity of just 50,000 barrels of crude oil per day.

Despite its scale and strategic significance, the project has made little progress amid a series of unresolved concerns. Mainly the disagreement over market access, with Sinopec seeking unrestricted access to sell its refined products in the local market, while the Government has limited domestic sales to 20% of total output. Additional points of contention include requests for more land, the fiscal concessions available to the investor, and concerns regarding long term water availability in the Hambantota region.

On the issue of local market access, in early 2026, Ministry of Energy stated that Sinopec agreed to proceed with the project under the Government’s 20% cap on domestic fuel sales. At the time, authorities expressed confidence that construction would commence sooner, while also indicating willingness to consider Sinopec’s request for more access to the local fuel market.

However, the project remains on paper, with no clear implementation timeline in place. As a result, the economic benefits associated with the investment continue to be delayed.

What these cases tell us

The two projects differ significantly in scale and sector, yet they share a common pattern. Both were announced with headlines on papers, both encountered obstacles, and both have remained stalled long enough to erode investor confidence.

Getting the fundamentals right from the beginning is essential. The disagreements over land allocation, regulatory clearances and market access surfaced only after agreements had been signed. These are issues that should have been resolved during negotiations. Once a project is announced, investors should have confidence that its core terms and conditions are settled and will not be subject to renegotiation.

Delay carries a cost of its own. Projects that spend years waiting for land allocation, regulatory approvals or final agreements risk losing momentum, missing financing opportunities and weakening internal support from investor’s side. More often than not, prolonged delays inflict more damage on a project than any single obstacle. By the time outstanding issues are resolved, the original investment rationale may no longer exist.

Sri Lanka’s investment story is not written on a paper or promotional campaigns. It is written in the fate of the projects already on the table. A completed refinery in Hambantota or a fully operational logistics hub in Colombo would do far more to attract the next wave of investors than any investment forum or overseas roadshows.

The priority now should be not only to attract new investment opportunities but also to strengthen investor aftercare. This requires a robust framework centred on a single point of accountability for approved projects, time bound approval processes, and the early and transparent resolution of land, regulatory and policy related issues. Attracting investment is only half the challenge. Retaining it, implementing it and converting commitments into successful projects are what ultimately build a country’s reputation as a credible investment destination.

CanCham Sri Lanka leads business delegation to Canada to connect investors and unlock new markets

The Business Promotion Mission of the Canadian Chamber of Commerce in Sri Lanka (CanCham Sri Lanka) is creating opportunities for its member companies to connect with Canadian investors, explore commercial partnerships and expand their reach to international markets.

Running from 18 October to 1 November 2026, the mission travels across Vancouver, Toronto, Ottawa and Montréal, with a focus on sectors such as tourism, real estate and infrastructure, AgriTech, green housing, healthcare and wellness, education, IT and Fintech, with Women in Development and Empowerment identified as a special area of interest.

Building a Canada-Sri Lanka-Indo-Pacific business corridor

At a business conclave and networking session in Vancouver hosted by Surrey Board of Trade former President and CEO Anita Huberman, CanCham Sri Lanka Co-Founder and Board Director Mohamed Hameez outlined the Chamber’s proposed Canada-Sri Lanka-Indo-Pacific Corridor Initiative.

‘Our proposed initiative seeks to connect Canadian expertise, capital and innovation with Sri Lanka’s capabilities and commercial opportunities. At a time of changing global trade dynamics, market diversification is increasingly important. Sri Lanka’s strategic location at the crossroads of South Asia, Southeast Asia and the Middle East, together with its position along major maritime routes, presents opportunities for Canadian businesses seeking to expand their reach into regional markets,’ he said.

The initiative is intended to link Canadian investment and expertise with Sri Lankan businesses and resources, providing a framework for exploring commercial cooperation across the two countries and the wider Indo-Pacific.

Connecting member companies with Canadian investors

Representing a range of sectors including property development, education, telecommunications, tourism and manufacturing, the delegation comprises members of Home Lands Skyline, Port City Colombo, Horizon Campus, Horizon College International, Hutch Sri Lanka, ECD Global, AmmA Mega Industries Ltd., Thames International Educational Consultancy and Spillburg Vacation Ltd.

The Vancouver program included meetings with colleges and universities, as well as Sri Lankan university student groups from British Columbia and Alberta, opening discussions on educational links and potential areas of collaboration.

At the Port City Colombo Investment Forum – Metro Vancouver, Hameez highlighted Port City Colombo’s potential to attract regional business operations and investment. The forum connected Canadian investors with Sri Lankan business leaders to explore prospects in the country’s flagship Special Economic Zone. Former Surrey Councillor Linda Annis was also appointed CanCham Sri Lanka’s Honorary Brand Ambassador, which strengthens a further link between the Chamber and the Canadian community as it develops its international business network.

Advancing the mission across Canada

Following the Vancouver program, the delegation continues its mission in Toronto, Ottawa and Montréal, with further business, investment, institutional and tourism-related engagements planned across the three cities.

CanCham Sri Lanka is also connected to investment-promotion initiatives in Sri Lanka, including the Northern Investment Summit and Sri Lanka Expo 2027. These platforms promote the Chamber’s international outreach by strengthening links between local enterprises and overseas investors.

Through its involvement, CanCham Sri Lanka aims to build on its international business network and expand opportunities for international commercial cooperation.

Oil Revenue: PANDEF Seeks 50% Derivation For Oil-Producing States

The Pan-Niger Delta Forum (PANDEF) has called for an increase in the derivation allocation to oil-producing states from the current minimum of 13 per cent to 50 per cent to address environmental damage and years of underdevelopment in the Niger Delta.

The forum also urged the Federal Government and the National Assembly to abolish the onshore/offshore dichotomy in revenue allocation, arguing that offshore oil exploration also affects coastal communities and their sources of livelihood.

PANDEF made the demands in a communiqué issued after a meeting of its Board of Trustees and National Executive Committee in Abuja on Tuesday. The communiqué was read by its National Chairman, Dr Godknows Igali.

The forum said the current derivation rate, provided for under Section 162(2) of the 1999 Constitution, had remained unchanged for more than two decades despite the environmental and developmental challenges facing oil-producing communities.

It said increasing the allocation would enable the states and communities to tackle infrastructure deficits, pollution, health hazards and the social and economic effects of oil and gas exploration.

PANDEF argued that offshore oil operations affect maritime ecosystems and fishing grounds on which coastal communities depend, adding that oil spills and other incidents could damage livelihoods regardless of whether the resources were located onshore or offshore.

It called on the Federal Government, the Revenue Mobilisation, Allocation and Fiscal Commission and the National Assembly to take urgent legislative and constitutional steps to address the issue.

On environmental protection, the forum called for adequate, sustained and transparent funding for the Ogoni clean-up programme and urged the government to extend the remediation exercise to other affected parts of the Niger Delta.

It specifically identified Nembe Creek in Bayelsa, Odidi in Delta and Kula in Rivers as areas requiring urgent attention. It also asked presidential candidates to present practical and time-bound plans for environmental restoration and sustainable development.

The forum welcomed plans to modernise the ports in Warri, Port Harcourt and Calabar, as well as proposals for deep-sea ports in Akwa Ibom, Rivers and Bayelsa states. It urged the Federal Government to establish sustainable funding arrangements for the projects.

PANDEF also described the completion of the 750-kilometre Lagos-Calabar Coastal Highway as non-negotiable, saying it would improve connectivity, boost trade and unlock the economic potential of coastal communities.

The forum called for greater investment in the region’s gas resources, including power generation, mini-LNG plants, LPG and CNG hubs, petrochemicals and other gas-based industries.

It also urged the Federal Government to prioritise modular refineries through appropriate funding, licensing and technical support, while ensuring environmental compliance.

To reduce dependence on oil, PANDEF asked the Federal and six South-South state governments to develop a coordinated agricultural programme focusing on crops such as palm oil, rice and cassava, alongside processing, storage, rural roads and access to affordable financing.

As the 2027 general elections approach, PANDEF urged residents of the South-South to vote peacefully for candidates with credible programmes for the region’s development.

The forum, which reviewed its first decade of activities, also cited the establishment of the South-South Development Commission and its advocacy for infrastructure, maritime development and greater participation in the oil and gas industry among its achievements.

SLT-MOBITEL unveils Apple’s revolutionary next-gen iPhone 18 Pro series

SLT-MOBITEL Mobile has ushered in the next era of mobile technology, unveiling the highly anticipated Apple iPhone 18 Pro Series in Sri Lanka, through Sri Lanka’s most reliable 5G network.

Poised to redefine premium smartphone experiences in the island, the revolutionary next-gen lineup blends Apple’s peak innovation with SLT-MOBITEL’s ultra-fast connectivity.

At an event, held recently, SLT-MOBITEL handed over the first iPhone 18 Pro Series devices to customers, providing the opportunity to experience 5G on Apple’s latest smartphones.

The launch showcases SLT-MOBITEL’s drive to equip Sri Lankans with premium global technology, and maximising its potential through advanced network capabilities.

The iPhone 18 Pro and iPhone 18 Pro Max are now available through SLT-MOBITEL, together with the iPhone Duo, widening the range of Apple devices on offer. With Mobitel’s reliable connectivity and trusted service, SLT-MOBITEL continues to strengthen its position as the trusted choice for customers seeking the best and latest Apple devices.

Mobitel’s 5G coverage supports everyday digital needs such as high-quality streaming, faster downloads, video calls and improved connectivity on compatible devices within 5G coverage areas.

To mark the launch, customers who move to the iPhone 18 Pro or iPhone 18 Pro Max 5G with SLT-MOBITEL stand a chance to win 2TB of Mobitel Data, an Apple Watch Series 12 or a MacBook Neo. Selected customers will also receive Apple AirPods 5 and an original 20W power adapter.

SLT-MOBITEL is dedicated to connecting Sri Lankans with the latest technology through its premium smartphone portfolio and mobile network services. The availability of the iPhone 18 Pro, iPhone 18 Pro Max and iPhone Duo highlight the company’s focus on offering customers greater choice, convenience and a superior 5G experience. Customers can visit SLT-MOBITEL outlets for more information. Terms and conditions apply.

Skyscrapers on a quagmire

On 21 October, the developers of PHP – the engine behind around 70% of the world’s websites – disclosed 2 severe flaws, since nicknamed PHP2Shell, that could let a stranger with no password take control of the computer behind a website. The US National Security Agency then told organisations unable to fix their systems to take them offline, and the South African Presidency, the Finnish Government and the UK Government did exactly that within hours, if not days. Sri Lankans got a general advisory from SL-CERT the same day, naming no institution. Not a single site was taken offline.

Over next 3 days that followed I checked around 640 live gov.lk sites I could discover. I was searching for critical PHP vulnerabilities, but came back with a far more disturbing picture of, and appreciation for the incredible fragility of our public digital, and critical national infrastructure.

80 vulnerable sites, and likely much more

At least 80 websites run by the state, or by the utilities and companies it owns, run vulnerable versions of PHP, and 61 of them run versions so old that the makers stopped fixing them years ago, which means they carry every flaw discovered since and have no official repair available. This isn’t a complete number since for a lot of technical reasons, including by measures established to thwart potential hackers, it’s often impossible to determine specific vulnerabilities that exist within websites as an outsider. Accordingly, I could only count sites that announced their software version.

The list reads like an organisational chart of the state, running from the Ceylon Electricity Board and the Disaster Management Centre, both on a version released in June 2013, through LECO, the Sri Lanka Ports Authority, SLT Mobitel, the Telecommunications Regulatory Commission, the National Transport Commission, the Sri Lanka Air Force and the Department for Registration of Persons, which holds the national identity card registry, to the Ministries of Health, Mass Media and Justice, a Prime Minister’s Office system, the Bribery Commission, the Department of Government Information, the National Police Commission, 8 of the 9 provinces, 3 municipal councils and several Pradeshiya Sabhas. These are not random or peripheral sites.

Worse still, the Ministry of Health’s human resources systems, which handle transfers, post-intern appointments and appeals for health workers, run on a version released in July 2010, while a ministry portal asks doctors to log in with their national identity card numbers, and the Bribery Commission takes complaints from the public, so NIC numbers, employment records and the details of those who report corruption all sit behind architectures no one has updated or maintained in years.

It truly beggars belief.

The rot beyond PHP

Updating PHP won’t fix what ails many official websites. 9 state sites, including the CEB and the Air Force, publish diagnostic pages that display their entire server configuration to anyone who looks, and the login pages of database administration tools, which are by definition doors to databases, are reachable on the Sri Lanka Police, Ministry of Defence, Disaster Management Centre and LECO sites, with LECO’s dating from 2017. The Railway Department, the Auditor General’s Department and the Director General of Merchant Shipping share a server whose public status page leaks the address of a machine inside the Government network, while a Pradeshiya Sabha site briefly exposed the kind of file that typically holds passwords and keys. The Auditor General’s Department, whose job is to hold the rest of the state to account, is amongst them.

Other countries try their best to secure this sensitive information by layer upon layer of safeguards, including regular updates to the underlying code. The situation in Sri Lanka is vastly different, and stolen data held to crypto-currency ransoms we simply can’t afford to pay may actually be the least of our worries. In a country with a long and recent history of disinformation driving offline violence, a compromised official website is the most credible vehicle for falsehood imaginable. A forged flood warning on the Disaster Management Centre’s site during a cyclone, or a false tariff notice on the CEB’s, would be believed precisely because of where it appeared. Nor do attackers usually stop at the website. Once they control it, they can use it as a way into the databases and internal Government networks that sit behind it.

Gmail, the Fuel Pass and a culture of convenience

The state of our servers are a symptom of absolutely rotten institutional cultures decades in the making. In March I wrote about the National Fuel Pass, whose rollout failed to recognise newly issued NIC numbers, sent one-time passwords after they had expired and showed second-hand vehicles under their previous owners, while for over 48 hours no ministry or development team said anything online, leaving Asela Waidyalankara, an independent cybersecurity expert, to field public complaints on Twitter/X, and act as a conduit to the authorities.

You couldn’t make it up.

Earlier this month, I went through the first 500 search results for gmail.com (the commercial Gmail domain) on official gov.lk domains. I found state bodies advertising consumer Gmail addresses for right-to-information requests, procurement, health appointments and child protection, with the Department of Census and Statistics directing confidential survey returns to district addresses, many of them Gmail, and the Registrar General’s website displaying an official address whose link opens a Gmail one.

Consumer Gmail accounts leave citizens’ identity, health and bank details dependent on whoever holds the password, with no institutional control over custody, retention or continuity when staff move on. All this, with the Personal Data Protection Act (PDPA) becoming fully operational on 1 January 2027. I have yet to hear the President, or Dr. Hans Wijayasuriya as Chief Presidential Adviser on Digital Economy, speak to any of it.

Photo-opportunities vs ground realities

The public are regularly shown photographs of meetings with the Indian High Commissioner, the UN system, the World Bank and other bilateral and multilateral partners about funding or supporting digitalisation, from the Sri Lanka Unique Digital Identity scheme to GovPay, whereas the rot in the foundations these platforms are being retrofitted onto, and the cultures that produced it, never feature. Nor does the fact that no single body is mandated to keep the state’s systems current, since SL-CERT can advise institutions but cannot compel them, as Deputy Minister of Digital Economy Eranga Weeraratne told Parliament in March 2025, and as late as May 2026 no law required institutions to report incidents to it.

Countries that have more successfully address this Gordian Knot of issues have established a dedicated institution, with a clear mandate for 5 years or more, with the people, processes and regulatory authority to build what was missing, and not just by issuing advisories. The expertise to help exists, including within the UN system, if the Government asks for it directly, and means it. It may be that the President, Deputy Minister Weeraratne, and Dr. Wijayasuriya somewhat grasp the problem. But the true state of even critical national infrastructure suggests they may under-appreciate how fundamentally flawed the foundations really are, including beyond Government.

Infrastructure this brittle can quickly turn any small, sustained shock into a major socio-economic, and political crisis – and we are sitting ducks.

Parliament’s blind spot

Earlier this month, I published a report on a study of 173 Hansards, from January 2025 to September 2026, focussing on digitalisation, and AI. MPs did discuss cybersecurity, and often in ways that bear out what I found last week. Ajith P. Perera pressed for cybersecurity legislation in drafting since 2019, Chathura Galappaththi urged a security framework and bug-bounty testing before any biometric data is collected, and Ravi Karunanayake sought a forensic audit after the October 2025 Lanka Government Cloud disruption, which the Deputy Minister attributed to a full disk on a platform with no centralised backup. The Deputy Minister later told the House that the 2023 ransomware attack permanently erased emails linked to around 5,000 Government addresses because institutions lacked offline backups, and in August 2026 the Leader of the Opposition cited weak passwords and missing multi-factor authentication behind the US$2.5 million lost during a debt repayment to Australia. The floor debate, though, was around fraud, deepfakes and online harms rather than the upkeep of the state’s own systems. MPs need to better understand ground realities – software unpatched for decades, exposed private data – as well as emergent developments, where AI makes finding, and exploiting vulnerabilities cheaper, faster, more automated, and available to anyone, anywhere. The resulting risks, threats, and harms to Sri Lanka will grow exponentially.

Foundations before facades

We are being promised skyscrapers built on quagmires.

The fixes are unglamorous, but urgent. They include, but aren’t limited to a complete inventory of state systems with a named official accountable for each, and a binding rule that institutions run only supported software. Every second more with foundations this fragile, and institutional cultures this frightful invites a collective national grief we can ill afford after 2022.

CRIB expands credit information ecosystem

The Credit Information Bureau of Sri Lanka (CRIB) has announced a significant expansion of the country’s credit information ecosystem with the onboarding of four licenced microfinance institutions, following the publication of the relevant Government Gazette Notification.

This initiative marks an important step towards strengthening credit information sharing within the microfinance sector, enhancing the availability of reliable credit information, and promoting greater financial inclusion by facilitating improved access to formal credit for underserved individuals and businesses.

Under the powers vested in the Credit Information Bureau of Sri Lanka Act, No. 18 of 1990, four Licenced Microfinance Companies have been formally declared as designated lending institutions. The newly included institutions are Berendina Micro Investments Company Ltd., Lak Jaya Micro Finance Ltd., Dumbara Micro Credit Ltd., and Sejaya Micro Credit Ltd.

This regulatory inclusion integrates microfinance institutions into CRIB’s centralised credit information infrastructure, enabling them to both contribute credit information and access borrower profiles within a secure and well-governed framework. This development will strengthen the institutions’ capacity to expand their reach to underserved and marginalised segments of the economy by improving the visibility of data and supporting more informed lending decisions. Furthermore, access to reliable credit information will help these institutions strengthen credit risk assessment, enhance risk management practices, uphold sound governance standards, and promote responsible lending, thereby facilitating wider access to formal credit and supporting sustainable economic empowerment.

A ceremony to mark the onboarding of microfinance data to CRIB was held recently with the participation of CRIB Chairman and Central Bank Deputy Governor K.G.P. Sirikumara as the chief guest, CBSL Director Department of Supervision of Non-Bank Financial Institutions R. M. C. H. K. Jayasinghe, CRIB Director/General Manager Pushpike Jayasundera, Lanka Microfinance Practitioners’ Association President Wasantha Gunawardhane, Chief Executive Officers of the respective companies, other officials of the companies and CRIB.

Commenting on the development, Pushpike Jayasundera said: ‘The formal integration of licenced microfinance companies into the CRIB framework marks a pivotal step toward building a truly inclusive financial ecosystem in Sri Lanka. Microfinance plays a vital role in supporting micro-entrepreneurs, small businesses, and grass-roots economic activity. By bringing these institutions into our national credit intelligence network, we are mitigating information asymmetry at the micro level, encouraging responsible borrowing, and enabling financial institutions to extend credit with greater risk confidence.’

The inclusion of these institutions aligns with CRIB’s broader strategic objective to expand credit coverage beyond mainstream commercial banking into grassroots and micro-finance sectors, further driving financial inclusion, credit discipline, and sustainable economic revitalisation across Sri Lanka.

Established by the Credit Information Bureau of Sri Lanka Act No. 18 of 1990 as amended by Act No. 8 of 1995 and 42 of 2008, CRIB is the first credit bureau in the South Asian region. An initiative of the Central Bank of Sri Lanka and the Ministry of Finance, the Bureau serves as the national repository of credit information for all borrowers, delivering a range of value-added services that facilitate faster and more affordable access to credit, thereby enhancing financial inclusion for all citizens.

PickMe’s growing network drives operating leverage and value for earners and shareholders

Digital Mobility Solutions Lanka PLC, owner and operator of the PickMe platform, yesterday said it posted revenue of Rs. 2.9 billion in the second quarter of FY26/27, up 37% year-on-year, alongside a 37% increase in total platform movements.

The platform facilitated Rs. 28.5 billion in Gross Transaction Value (GTV), with Rs. 24.7 billion flowing directly to independent drivers and merchants. Higher transaction volumes and stronger operating leverage lifted net profit by 53% year-on-year to Rs. 784 million. This performance supported the Board’s approval of an interim dividend of Rs. 2.75 per share, representing a 65% payout ratio.

In a statement, the Company said the results reflect the operating leverage created by increasing network density. Connecting more consumers, drivers and merchants enables PickMe to improve platform efficiency, deliver greater value for its users and enhance overall earnings by spreading technology and operating costs across a larger volume of activity.

PickMe Founder and CEO Jiffry Zulfer said the performance demonstrated the economic potential of digitalisation in the shared economy. ‘Our business earns a small share of a growing volume of transactions, while the greater share of that value remains with the independent drivers and merchants providing the services. As more consumers, earners and businesses join the platform, greater network density creates more earning opportunities while allowing PickMe to invest in technology that continuously improves user experience and generates strong returns for shareholders. That is the strength of the model; the platform succeeds as the people and businesses using it grow.’

PickMe Chairman Ajit Gunewardene said the dividend balanced shareholder returns with the Company’s continuing investment requirements. ‘The interim dividend reflects the Board’s confidence in PickMe’s performance, financial position and long-term prospects. Our approach is to provide meaningful returns to shareholders while retaining the capacity to invest in technology, strengthen the platform and pursue future growth opportunities. As a locally developed technology business, PickMe also brings more consumers, independent earners and businesses into the digital economy as it grows, helping bridge the digital divide.’

Average monthly unique consumers reached 2.1 million during the quarter, increasing 38% year-on-year. Average monthly unique driver earners were up 58% year-on-year. Total platform movements also increased 18% quarter-on-quarter, with growth recorded across all product verticals.

The CEO said restoring supply reliability following the first-quarter fuel disruption had been an operational priority. ‘Our immediate focus was to improve driver availability and maintain a reliable service as demand recovered. The growth in consumer activity, earner participation and platform movements shows that these measures are delivering results. We will continue to focus on service quality, supply reliability and disciplined execution as the platform expands.’

For the first half of FY26/27, revenue rose 38% year-on-year to Rs. 5.4 billion from Rs. 3.9 billion in the corresponding period of the previous financial year. Average monthly unique consumers and driver earners both reached all-time highs during the period, while total platform movements increased 39% year-on-year. First-half GTV rose 43% year-on-year to Rs. 53.8 billion from Rs. 37.6 billion, generating Rs. 46.7 billion in earnings for independent drivers and merchants.

Higher transaction volumes, operating leverage and continued cost discipline lifted first-half operating profit by 44% to Rs. 1.9 billion from Rs. 1.3 billion a year earlier. Net profit increased 49% to Rs. 1.4 billion from Rs. 950 million, while earnings per share rose to Rs. 4.24 from Rs. 2.85.

Man to serve 27 years for murder over suspected affair with wife

The Court of Appeal has upheld a 27-year jail term for a man accused of killing a colleague on suspicion of having an affair with his wife, stealing his chickens and food.

Joseph Mugarura, alias Kyangwa, who was convicted of killing Richard Katambira in September 2015, had hoped the Court of Appeal would reduce his sentence, arguing he was a first-time offender with family responsibilities and that punishment was too harsh.

But a three-judge panel led by Deputy Chief Justice Moses Kazibwe Kawumi, with Justices Irene Mulyagonja and Jesse Byaruhanga Rugyema, has ruled that the 27-year prison term was appropriate, leaving him to continue serving his sentence.

“Having reviewed the cases above, it is our finding that the sentence that was handed down to the appellant was within the range of sentences that have been imposed for similar cases in this court and the Supreme Court,” the justices held.

“We accordingly see no need to interfere with the sentence of the trial court. The appellant shall continue to serve his sentence of 27 years imprisonment from 10th October 2018, the date on which he was first sentenced,” they ruled.

Court heard that Mugarura had a history of animosity with Katambira. He suspected Katambira of having a sexual relationship with his wife. There were also allegations that Katambira frequently stole his hens and food, further deepening hostility.

According to prosecution, Mugarura threatened to kill Katambira two days before the fatal incident.

On the night of September 18, 2015, Katambira was allegedly waylaid and murdered near the home of a woman identified as Kellen Bahali.

The incident was marked by a desperate cry for help. Bahali reportedly heard the dying man shout: “Kyangwa, you have killed me.”

Mugarura was subsequently arrested and charged with murder. Although he denied committing the offence, the High Court convicted him and, on October 7, 2018, sentenced him to 27 years in prison.

Dissatisfied, he appealed to Court of Appeal, arguing sentence was excessive compared with those imposed on other people convicted of similar offences.

During appeal, his lawyer Cosma Kateeba, appearing on state brief, argued that trial judge had failed to apply principle of consistency in sentencing.

Kateeba told court that his client was 47 years old at time of offence, was a first-time offender and had family responsibilities. He argued that a lengthy prison term could undermine objectives of punishment, particularly reform and rehabilitation.

He asked court to reduce sentence to 20 years and deduct period spent on remand before conviction, which he said would leave accused with 17 years to serve.

However, Chief State Attorney Fatina Nakafeero, representing Director of Public Prosecutions, opposed appeal. She argued that trial judge had properly considered both mitigating and aggravating circumstances before imposing sentence, with aggravating factors outweighing mitigating ones.

Prosecution maintained sentence was within applicable sentencing range for murder and urged court to uphold it.

In its judgment, justices examined previous decisions involving similar murder cases and noted that appellate courts may interfere with a sentence where it is illegal, manifestly excessive or where trial judge failed to consider an important factor.

However, they observed that appeal primarily concerned consistency in sentencing, rather than allegation that trial judge had ignored accused’s personal circumstances.

Court cited previous cases in which sentences of 25 and 27 years for murder had been upheld, alongside others in which longer sentences were reduced after being found excessive.

The justices emphasised that offenders convicted of similar crimes committed in comparable circumstances should receive consistent sentences.

‘We accordingly see no need to interfere with the sentence of the trial court,’ the justices ruled.