Catalysts For Growth: The Role of Microfinance Services in Empowering SME’s in Western Province, Sri Lanka

This study investigates the impact of microfinance services on the financial performance of Small and Medium Scale Enterprises (SMEs) in the Western Province of Sri Lanka. Recognized as a crucial sector for economic growth, regional development, employment generation, and poverty reduction, SMEs in Sri Lanka benefit significantly from the tailored financial and non-financial services provided by Microfinance Institutions (MFIs). Despite the recognized importance of SMEs, many in Sri Lanka face significant challenges in accessing traditional financial services, hindering their growth potential. This study addresses the gap in understanding how microfinance services, including micro credit, micro savings, and training programs, contribute to the financial growth and sustainability of SMEs in the region. Primary data was collected through a structured questionnaire administered to a random sample of 162 SME owners in the Western Province. The analysis employed descriptive statistics, correlation, and multiple regression analysis to examine the relationships between these microfinance services and financial performance indicators, including net profit margin and return on assets (ROA). The results reveal that both micro credit and micro savings significantly impact SME financial performance, particularly net profit margin and ROA, while training programs, although beneficial, did not demonstrate a statistically significant effect on these financial outcomes. The findings emphasize the need for more tailored microfinance initiatives that focus on credit and savings services while improving the accessibility and relevance of training programs. These insights offer valuable implications for policymakers and microfinance institutions (MFIs) aiming to enhance the effectiveness of microfinance in fostering SME growth, regional development, and economic sustainability in Sri Lank

Effects of Common Sri Lankan Dinner Foods on Fasting Blood Glucose and Triglyceride Levels: A Pilot Study

Among the blood glucose assessing parameters, fasting blood sugar (FBS) plays a key role in screening, diagnosis, management and monitoring of diabetes mellitus. Diet is a crucial factor which alters the FBS and especially the dinner foods might interfere with the FBS the next day. Our objective was to assess the effect on FBS and TAG of healthy individuals with the consumption of common Sri Lankan dinner foods (rice and curry, fried rice, kottu and soup with bread). A randomized crossover experimental study was conducted with 13 healthy individuals (age :22-26 years, BMI :18 – 23kg/m2 , FBS <110mg/dl, TAG < 150mg/dl), selected by simple random sampling. Participants were provided with four dinner foods (portion size= 300g) 1) rice and curry (838kcal), 2) fried rice (932 kcal), 3) kottu (937kcal) and 4) soup with bread (422kcal) on four different days keeping a 3-4 day gap between test days. Participants were requested to fast for 8-10 hours and FBS and TAG levels were assessed the next day morning using glucose oxidase assay kit, and TAG colorimetric assay kit respectively. Data were analysed using repeated measures ANOVA and Tukey’s post hoc test and the presence of significant differences were determined at 95% confidence interval. Obtained results show that rice and curry meal showed significantly lower (p<0.05) mean FBS (65 mg/dL) compared to all other foods. Compared to kottu and fried rice, a significantly lower FBS value was obtained for soup meal (p<0.005) while there was no significant difference (p=0.666) between kottu and fried rice. TAG levels did not show any statistical significance among meals. The present pilot study concluded that the rice and curry meal for dinner has the lowest effect on FBS. Even within the normoglycemic range, fried rice and kottu taken for dinner significantly elevate the FBS levels compared to a soup meal or a rice and curry meal. None of the tested meals for dinner significantly changed the TAG.Keywords: Dinner food, Fasting blood sugar, Triacylglycero

The Public Trust in Representative Democracy: A Study Based in Batticaloa District, Sri Lanka

Most countries in the world have a democratic system of government. Debates on representative democracy and public trust have continued for decades. Today, people's faith in representative democracy is waning. Thus, the main objective of this study is to examine people's trust in representative democracy in Batticaloa district. It also aims to explore the reasons for the decline in trust in representative democracy. This study is based on primary and secondary data. A questionnaire method consisting of interviews and structured questions was also used to collect the first-level responses. According to the analysis carried out, the study revealed that the people's confidence in representative democracy is low in Batticaloa district. The economy and the failure of representative democracy have been found to be the main factors behind low public confidence in representative democracy. Increased corruption, non-conduct of elections, non-election of the president through new elections, family rule, abuse of power, majoritarianism, flawed government policies, weakness of the government structure have been found to be the reasons for the decrease in people's confidence. This study highlights the many challenges that representative democracy has faced, and their causes, and solutions. As such, this study emphasizes that people's trust in representative democracy can be established when mechanisms such as government transparency, establishing political trust, holding elections in a timely manner, promoting direct democratic strategies, establishing government accountability, and providing opportunities for people and civil society to participate in political activities are implemented. DOI: http://doi.org/10.31357/fhss/vjhss.v09i02.1

A Linguistic Study of Noun and Verb Derivation in the Gadhi Language

No one can say exactly how the history of the Rodi people began. To any human belonging to any nation or tribe, language is essential in expressing their thoughts. Accordingly, the Gadi people have built their own language tradition. They have used this language as a secret communication method, and in the history of the Sri Lankan language, it is known as the Gadi or Rodi language. The purpose of this research is to linguistically study how nouns and verbs are formed in the Gadi language, to investigate them according to word formation theory, and to identify the peculiarities of the formation of Gadi words. The research question addresses how nouns and verbs are formed in the Gadi language and whether they have occurred in accordance with word formation theories. The data for the present study was collected through qualitative research methodology using primary and secondary sources. Interviews were conducted with a few randomly selected Gardi people, and literature containing information about this language was studied. The data set was then analysed according to the linguistic word formation theory. Accordingly, it was recognised that they had used their own methods in forming the words of the Gadi language, which has a minimal vocabulary, and that those words contain certain theoretical features of word formation. There, the most pioneering feature of word formation evident is compounding. It seems that the Gadi language, which does not claim to have a written form, has been strongly influenced by the Sinhala language and due to that situation, it is threatened with extinction. The present study is important as it expands the existing knowledge of the Gadi language and recognises its word formation patterns. Thus, it can be concluded that the words of the Gadi language have been formed in a unique manner, which contains certain theoretical features of word formation

Book Review of “Entrepreneurial Finance for MSMEs: A Managerial Approach for Developing Markets” by Joshua Yindenaba Abor

Entrepreneurial finance is a specialized field within finance that focuses on the unique financial aspects of startups, small businesses, and entrepreneurial ventures. It encompasses the financial activities, strategies, and decisions involved in starting, managing, and growing a business. Entrepreneurial finance is essential for driving economic growth and fostering innovation by providing funding and expertise to startups and small businesses, leading to the creation of new ventures, job opportunities, and wealth generation. These ventures introduce innovative products, services, and business models, contributing to increased productivity, competitiveness, and market dynamism. Additionally, entrepreneurial finance encourages risk-taking and experimentation, crucial for sustained economic development, ultimately enhancing overall economic resilience and prosperity

Identifying Forest Fires and their Impact on Forest Cover in Anuradhapura District Using GIS and Remote Sensing

Lablab purpureus (L.) is an important leguminous crop that ensures food security. Despite being considered an underutilized crop in Sri Lanka, it is a promising climate-resilient crop with higher protein amounts. However, none of the studies on the diseases in this crop have been performed within the country. Our objective was to identify the diseases and management packages. The disease identification was conducted using the germplasm collection of L. purpureus established at the Horticultural Crops Research and Development Institute. Morphological character analyses of diseased plant samples were followed by culturing parts on a PDA medium to isolate pathogens. The pathogenicity of isolated pathogens was confirmed through standard procedures in Koch's postulate. Pathogen isolates were identified morphologically, and species-level identification was done by extracting genomic DNA and amplifying and sequencing ITS-1 and ITS-4 regions. NCBI BLAST analysis corroborated the results obtained from morphological observations and colony characteristics. This study's findings hold promise for identifying and managing diseases affecting L. purpureus in future cultivation. Under pathogenicity testing, there were 6% foot and root rot disease incidences, and 4% Charcoal rot (ash stem blight) disease incidences were recorded. The distinguishing symptoms of foot and root rot were yellowing, wilting, and basal rot with the presence of Sclerotia in the plant base and symptoms of charcoal rot were yellowing and browning of leaves, stem discoloration with characteristic black patches in root and stem. The causal organisms of foot and root rot were identified as Athelia rolfsii (Sclerotium rolfsii), and charcoal rot was identified as Macrophomina phasealina. With the use of literature and the use of poison food techniques, we developed two disease management packages for both diseases. For foot and root rot control; remove infected plants with soil, Crop rotation, or following, Spot application of recommended fungicides (Captan 50% WP, Thiram 80% WP, Thiophanate-methyl 50% + Thiram 30% WP), Improve the drainage at field preparation, Deep plowing and expose soil to the direct sunlight, Minimize the root damage, and Seed treatment (Captan 50% WP3g/1kg, Thiram 80% WP2g/1kg, thiophanate- methyl 50% + Thiram 30% WP2g/1kg). And also, for ash stem blight control; Following the field or crop rotation (recommended for at least 2yrs), Proper spacing with recommended plant density, Proper nutrient management, Improving the plant vigor, Flood the field 3-4 weeks before planting to destroy the pathogen, and cannot take efficient control by chemical control only. Keywords: Athelia rolfsii, Charcoal rot, Foot and root rot, Lablab bean, Macrophomina phaseolin&nbsp

Physicochemical Properties of Flour Obtained from Selected Traditional Corn Landraces in Sri Lanka

In Sri Lanka, most widely grown corn varieties are local and hybrid types. Besides these, there are traditional corn landraces that are relatively overlooked. This study examined physicochemical properties (starch granular structure, colour, pH, water absorption capacity, water solubility, oil absorption capacity, swelling capacity, bulk density, foaming capacity and foaming stability) of flour obtained from 4 such traditional corn landraces (Deshiya Iringu, Kahata Iringu, Kesel Iringu and Rathu Kappal) using standard procedures. For comparative purposes the above parameters were determined in a popularly cultivated local corn variety (Ruwan) and a Hybrid corn variety (M1 Maize Hybrid 5). All tests were conducted with triplicate measurements. Statistical differences between means were determined using analysis of variance (one-way ANOVA) and Tukey's honestly significant difference test. Morphologically no difference was observed in the shapes of starch granules observed under the light microscope. All the samples displayed polygonal granular shapes. Colour was analyzed using CIELAB colour parameters, (L*, a*, b*) which represent lightness, red-green, and yellow-blue values respectively. Highest a* value was shown by Rathu Kappal landrace. Highest L* and b* values were shown by Ruwan variety. pH of corn flours varied between 5.95–6.35. Water absorption capacities and water solubilities of corn flour types ranged between 129.98%–143.47% and 1.75%–4.38% respectively. The Ruwan variety showed the highest water absorption capacity and the lowest water solubility. Oil absorption capacities of corn flours ranged from 91.98%–105.70%. Bulk densities of the corn flours varied between 0.75–0.79 kg/m-3. Statistically there was no significant difference (P>0.05) in bulk densities of flour obtained from traditional corn landraces. Flour obtained from local and hybrid varieties showed significantly high bulk densities. Swelling capacities of the corn flours ranged from 9.00–11.33 mL and Hybrid variety showed the lowest swelling capacity. Foaming capacities of the corn flour types varied between 6.10%–8.40%. The Ruwan variety showed the lowest foaming capacity and Deshiya Iringu showed the highest foaming capacity. Foaming stability of all the corn flour types were found to be 0.00% in 1 hour. Although the study revealed variations in certain physicochemical properties among the six corn flour types, similarities were observed in properties such as foaming stability. Keywords: Corn flour, Hybrid corn, Physicochemical properties, Traditional landraces  &nbsp

THE NEXUS BETWEEN OIL PRICES AND EXCHANGE RATE: EVIDENCE FROM NIGERIA

This study investigated the relationship between oil price changes and exchange rates in Nigeria from 1982 to 2023. The study also analyzed the direction of causality between oil price and exchange rates. To achieve these objectives, a Vector Autoregression model was employed and granger causality test was carried out. Results showed that oil price fluctuations had significant short and long run effects on exchange rates. In the long run, a 1% increase in oil price resulted in a 0.02875% change in the exchange rate. Interestingly, Granger causality tests revealed a unidirectional relationship from exchange rates to oil prices. The study concludes by recommending that the Nigerian government should properly manage its foreign exchange reserves and promote diversification of the economy into non-oil sectors to mitigate vulnerabilities associated with oil price changes

Impact of Waste Management on Financial Performance with Reference to Listed Firms in Sri Lanka

The ultimate goals of this research study are to assess the relationship between firms' waste management practices and their financial performance. Further, this analysis provides a framework for evaluating the impact of waste management practices on the sustainability measure index of firms and analysis how these practices affect financial outcomes of the firms. The research is conducted in a deductive approach, utilizing correlation analysis and multivariate regression analysis to analyze the collected data. Sample consists of the 100 observations from selected sectors of firms listed on the Colombo Stock Exchange from 2019 to 2023. Correlation analysis shows a significant relationship between effective waste management practices and the financial performance in the selected companies. This study found that both economic and social initiatives related to waste management are significantly associated with return on assets (ROA)in the firms. Environmental initiatives are significantly associated with Tobin’s Q, while other variables have no significant association with ROA or Tobin’s Q. Regression analysis concludes that waste management practices significantly impact the financial performance of the firms in overall view. Specifically, with general waste management initiatives have some notable impact on return on equity (ROE) of the firms, while only environmental and social initiatives significantly have an impact with Tobin’s Q. The findings of this research suggest that improved and well-organized waste management practices can improve the transparency and performance in Sri Lankan listed companies, that encouraging managers and owners and stakeholders to adopt comprehensive waste management reports in their annual reports. Effective waste management is essential for competing in a dynamic business environment nowadays. Future research can study qualitative measurements to further assess the impact and relationship between waste management practices and financial performance.   Keywords: Waste management, Pollution control, Environmental initiatives, Socioeconomic initiatives, Sustainability index.   &nbsp

Twenty-Five Years of Democracy in Nigeria, 1999- 2024: A Reality or a Sham?

There are several studies on Nigeria’s democracy. However, such academic inquiries have not debated whether the last twenty-five years of democracy are a reality or a sham. This study was conducted to fill the knowledge gap that the existing literature has created. Using secondary sources consistently with interdisciplinary methods, the study delves into the history of democracy in Nigeria. It analysed the benefits of democracy in Nigerian society in the previous twenty- five years. The infelicities linked with the practice of democracy in Nigeria during the time under evaluation are also espoused. The study recommended solutions capable of restoring democracy in the country. It concluded and maintained that democracy has not provided adequate dividends to the Nigerian people within the period under review.   DOI: http://doi.org/10.31357/fhss/vjhss.v10i01.06 &nbsp