Financial Times

The business world was agog with the news last week that Warren Buffet, the world’s second richest man, had donated most of his wealth to a philanthropy foundation set up by Bill Gates, the richest man, and his wife, Melinda.

What may have surprised many in Sri Lanka is that here is a rich man donating his money for public good to another charity run by a richer man – instead of creating his own foundation which most people in this region are prone to do. However it must be noted that Buffet and Gates are close friends - having met in 1991 – the former has been impressed by the global work of the Gates foundation.

Any lessons for Sri Lanka? Well one: An American billionaire selflessly giving away his wealth to the world’s poor and through another charity when he could have easily set up his own foundation and basked in the glory of publicity, and as a do-gooder. Instead he chose to give it to an organisation he believed has lived up to its name.

Such charitable giving is also commonplace in Sri Lanka though not at that high levels.

While corporate social responsibility and strategic CSR is now permanently enshrined in the business community, philanthropy has also become very popular, particularly amongst some business leaders who have moved away from playing an active role in the corporate sector and set up their own trusts or foundations to help the needy. While this is well and good, can we match the sincerity of the Buffet-Gates duo in coming together for a common cause, each one making sure the other is thrust into the spotlight? It was exhilarating to watch an enthusiastic Gates, sometimes grinning like a schoolboy at the press conference called to announce Buffet’s donation, without any airs though a man in his position could afford to do so. After all he is the world’s richest man with some countries virtually at his feet. They say that if Gates drops a couple of 100 dollar bills, he wouldn’t want to pick them up because that slight pause could result in a loss of many millions. Such is the importance of time to the man.

It’s rare to see that kind of connection here, though partnerships and affiliations for a common cause do exist – even amongst competitors in the same industry – which is a nice thought. For example, when Hiran Cooray of the Jetwing Group and Abbas Esufally of the Hemas Group addressed the monthly meeting of The Sunday Times Business Club last week on the challenges for tourism, they spoke with one voice – literally.

Instead of making two separate presentations – and often what we see in society – one outdoing the other, Hiran and Abbas went through a 20-30 minute presentation sharing the same mike and standing by the side of the other at the podium.

There was no one-upmanship though both were well recognized separately in the sector so much so that one of the Business Club members quipped, “with such partnerships speaking with one voice, there is no doubt that the tourism industry – whatever the debacles; whatever the reversals – would move forward.”Both speakers were also positive - a hard commodity these days - in an uncertain environment.

Hiran and Abbas said there was a good future for tourism despite the conflict and noted that the new investment level in this industry was high. Their positive expressions were well taken by the audience, particularly because tourism is the first casualty of the conflict; it is also the first to recover. Maybe these young drivers of the tourist industry plus the Buffet-Gates combination could provide a lesson or two for our leaders – Mahinda Rajapaksa and Ranil Wickremesinghe -in coming together for a common cause.

There is little doubt that the two parties these leaders represent can easily take this country forward, together, if there is a willingness to make sacrifices and some give-and-take. Civil society has pleaded for such a marriage; the Ceylon Chamber of Commerce has urged an alliance and the people have spoken – so many times.

Partnerships like this are made in heaven. Ranil and Mahinda are you listening or does your political future override the country’s future?