August, 2, 2016
MillenniumIT (a member of London Stock Exchange Group) together with CSR Sri Lanka, has launched Mahoga; a revolutionary matchmaking platform that paves the way for corporations to engage in meaningful corporate social responsibility (CSR) activity. The launch was held in the presence of CEO MillenniumIT Mack Gill, Chairman CSR Sri Lanka Chandula Abeywickrema and Board Members, H.E British High Commissioner to Sri Lanka James Dauris, USAID Mission Director to Sri Lanka Andrew Sisson, investors, beneficiaries and senior members of the corporate sector.
Created by MillenniumIT, Mahoga is a web platform designed to match an investor willing to contribute with a beneficiary in need of resources and support. Corporates have had no systematic way to connect with NGOs that engage in development projects and know best where resources should be channelled. In 2015, nearly Rs. 4 billion was spent on CSR activity but the impact of this investment and its contribution towards sustainable development remains questionable. In addition to this, with the World Bank declaring Sri Lanka a middle income nation, international funding has ebbed. Therefore, it became more imperative that corporates become more involved and contribute towards NGOs to ensure their continuous operation.
Speaking at the launch, Chandula Abeywickrema, Chairman CSR Sri Lanka stressed the unique opportunity created by Mahoga for stakeholders in the pursuit of the development of Sri Lanka. “This is about going beyond the project-based philanthropic role of organisations involved in CSR; going beyond the act of simply giving but giving in sustainable methods. With the necessary guidance, the corporate sector can trigger much needed change and affect communities positively.”
With a reputation for powering over 50 stock exchanges and trading venues across the world, MillenniumIT took up the challenge to create a platform that could match donors with beneficiaries to achieve a long-term, sustainable impact.
Mack Gill, CEO, MillenniumIT said “We’ve looked to scale up our social impact efforts by doing what we do best: building software platforms that bring people together to trade, to find common interest. We saw a real need in Sri Lanka for more visibility and transparency in the CSR ‘market’, and we also saw a need to raise awareness and bring people together, both donors and beneficiaries, to create more opportunities for development. With Mahoga every corporate can now easily discover ideas, plan and deliver its own bespoke CSR programme.”
Thereafter, Head of HR Hatton National Bank Ms. Shiranthi Cooray gave an impassioned explanation of how as an investor, the Hatton National Bank conducts CSR across the nation and how Mahoga can pave the way for more focused projects in the future. Ms. Shevanthi Jayasooriya, Country Director of RoomtoRead, an international non-profit organisation focused on supporting literacy and gender equality in education described her stance from the viewpoint of a beneficiary. They were both in agreement that Mahoga can be the catalyst for change in the future of systemic and sustainable social responsibility.
Wrapping up the evening, Rizvi Zaheed, Vice Chairman CSR Sri Lanka reiterated the importance of sustainable corporate social responsibility for a better future and encouraged the private sector to work together with CSR Sri Lanka through the Mahoga platform.
For more information about the platform, visit www.mahoga.lk
About MillenniumIT: MillenniumIT is the power behind many of the world’s financial markets. MillenniumIT pre- to post-trade, multi-asset, ultra-low latency, agile technology infrastructure supports the trade lifecycle for more than 40 financial institutions and financial services firms around the world.
The MillenniumIT solution suite includes ultra-low latency trading platform Millennium Exchange™, the Millennium SOR™ smart order router; Millennium MarketData™, Millennium Surveillance™, and the integrated clearing, settlement and depository solution Millennium PostTrade™. Underpinning all of these solutions and providing the core integration layer is the Millennium Advanced Platform™ (MAP™).
Clients include Borsa Italiana, HKEx, Johannesburg Stock Exchange, London Metal Exchange, London Stock Exchange Group, Singapore Exchange, Toronto Stock Exchange, Tullett Prebon and Turquoise. Founded in 1996 and head-quartered in Sri Lanka, MillenniumIT is a fully-owned subsidiary of London Stock Exchange Group. For more information, visit www.millenniumit.com
Photo caption: Demo of Mahoga to interested audience