1. BOC TRANSFORMS THE BANANA TREE INTO SRI LANKA’S NEW ‘KAPRUKA’ 
  1. BOC ELEVATES THE BANANA TREE AS SRI LANKA’S SECOND ‘KAPRUKA’ 
  1. BOC REDEFINES THE BANANA TREE AS THE NATION’S NEXT ‘KAPRUKA’ 

Entrepreneurship is the backbone of any thriving economy, fostering innovation, generating employment, and driving national growth. However, embarking on an entrepreneurial journey is often fraught with challenges, particularly for young business owners who struggle with securing the necessary financial support, guidance, and mentorship to transform their vision into reality.

Recognizing this crucial need, the Bank of Ceylon (BOC) took the initiative designed to empower young entrepreneurs by providing financial aid, expert mentorship, and essential business resources. Over the years, this initiative has supported and nurtured thousands of aspiring business owners, helping them establish, expand, and sustain their ventures.

Among the many success stories born from this initiative is that of Thanuja Chandrasekara, the Chief Executive Officer of Wasthra Ceylon Company Limited. With the financial backing and unwavering support of the Bank of Ceylon, Thanuja was able to turn his entrepreneurial dreams into a flourishing business that now operates in both local and international markets. In an insightful conversation, Thanuja Chandrasekara reflects on his journey, the hurdles he overcame, and the indispensable role played by the BOC in propelling his business toward international success.

Q: Could you share insights into your business and the benefits it offers to society? 

“My ambition has always been to establish a successful and sustainable business, one that not only generates profit but also contributes positively to society and the environment. To achieve this, I invested 16 years in research and development, exploring innovative ways to utilize different parts of the banana tree for commercial purposes. This extensive research laid the foundation for the creation of my company, Wasthra Ceylon.

Through our brand Moksha, we have introduced a diverse range of banana-based, eco-friendly products that cater to various consumer needs. Our product line includes healthy, banana-based food products that promote wellness and nutrition, high-quality feminine hygiene products that are both affordable and safe for consumers, and Eco Pack products and Banana Fiber products, which serve as sustainable alternatives to plastic.

Our commitment to sustainability and innovation has been well received, leading to a surge in demand both locally and internationally. This journey has been nothing short of extraordinary. It has reaffirmed my belief that with relentless dedication, innovation, and a strong support system, anyone can transform their vision into a successful enterprise.”

Q: What can you tell us about your products made from bananas?

I am proud to introduce Moksha products, including roasted curry powder and banana biscuits. Additionally, KSHA, Divine Desire, Ramba Posha, Moringa Porridge, banana smoothies, jam, and honey stand out as exceptional offerings. When it comes to sustainable packaging solutions, Banana Eco Packs deserve special recognition, as they exemplify our commitment to eco-friendly innovation. Our Noori Sanitary wear product has also come to a very prominant status.Our products are widely available in Sri Lanka and India, and we are currently in discussions to expand into Pakistan.

Q: How did the BOC contribute to the growth and expansion of your business? 

“The strength and the support of BOC was the cornerstone of my business expansion. When I sought financial support to scale my operations, Bank of Ceylon stepped in as a true partner, providing me with the necessary funding, expert advice, and continuous guidance.

The process of obtaining the loan was remarkably smooth and transparent. Unlike traditional financing options that come with rigid conditions and high-interest rates, the Bank of Ceylon offers a streamlined application process with minimal terms and conditions, making it highly accessible to young entrepreneurs.

The efficient and friendly service from the Tissamaharama branch of the Bank of Ceylon, where I received personalized assistance and business advice; and continuous support beyond financing, including mentorship, strategic guidance, and business advisory services should be extremely appreciated.

Through BOC’s SME Circle and Export Circle, I gained invaluable insights on financial management, investment strategies, and international business expansion. The mentorship I received helped me navigate challenges effectively, ensuring that I utilized the funds wisely to maximize business growth.

For me, receiving support from the Bank of Ceylon was a defining moment in my entrepreneurial journey. It provided me with the confidence and financial stability to scale my business beyond Sri Lankan borders and establish a strong presence in international markets.”

Q: In your opinion, how does the Bank of Ceylon contributes to the promotion of entrepreneurship in Sri Lanka? 

“The role of entrepreneurs in strengthening a nation’s economy is unparalleled. They are the driving force behind innovation, job creation, and economic progress. However, in Sri Lanka, entrepreneurs constitute only a small percentage of the total population. To transform our economy from being consumer-driven to production-oriented, it is imperative to nurture and promote entrepreneurship at a national level. The entrepreneurial journey, however, is not without its challenges. Establishing a business requires courage, persistence, and strategic planning. Financial limitations, operational hurdles, and market uncertainties often act as barriers to success. This is where institutions like the Bank of Ceylon play a pivotal role.

The Bank of Ceylon has been excessively instrumental in supporting young entrepreneurs, offering not just financial assistance but also guidance on business management and market expansion, opportunities to connect with industry experts and business networks, and a platform to engage in export-oriented business growth.

Their commitment to fostering entrepreneurship and economic development is truly commendable. By providing young entrepreneurs with access to capital, strategic mentorship, and ongoing support, the Bank of Ceylon is shaping the future of Sri Lankan business.”

Q: What advice would you give to young entrepreneurs and aspiring business owners in Sri Lanka?

“My journey from dreaming of success to achieving it has been fuelled by hard work, determination, and self-belief. However, I would not have reached this milestone without the right support system, and for that, I express my sincere gratitude to the Bank of Ceylon.

For young individuals aspiring to become entrepreneurs, I strongly encourage you to seek the support of the Bank of Ceylon. This initiative is not just a financial program—it is a comprehensive support system that empowers young entrepreneurs to turn their ideas into thriving businesses.

The intervention of BOC is more than just funding—it is a gateway to success. I encourage all aspiring entrepreneurs to embrace this opportunity and take the first step toward realizing their business dreams.”

A Future Built on Innovation and Entrepreneurship

The inspirational journey of Thanuja Chandrasekara and Wasthra Ceylon is a testament to the life-changing impact of the BOC. By providing financial assistance, mentorship, and continuous support, the Bank of Ceylon has become a driving force behind youth entrepreneurship in Sri Lanka.

For young business owners looking to launch or expand their ventures, the support of BOC is the ideal partner in their journey to success.

Don’t let financial constraints hold you back; get the great support from BOC today and take the first step toward building a successful and sustainable business!