African Roots

rnThe Sri Lankan business community will take lessons from its South African counterparts on how the sector can contribute towards national economic growth while improving social standards.

rnA 15-member business delegation will visit South Africa on May 1st on a study tour to examine the South African Business Trust.rnrn

rnThe South African Business Trust is an initiative of 145 South African companies working in partnership with the government.rn

rnThe companies contribute 0.15 percent of the companys total market capitalisation, or 2 percent of after-tax earnings, in the case of companies not listed on the JSE Securities Exchange to the Trust. rn

rnThe value of funds committed for the five-year period to June 2004, including interest and investment income, is 904 mn Rand or US $ 131 mn. rn

rnThis contribution by South African companies to the Trust is over and above the normal social responsibility funding of private companies. rn

rnTo date co-funding, mainly from government, has mat