Ishara Nanayakkara – Microfinance Maestro Turning LKR into Billion-Dollar Empires

Who is Ishara Nanayakkara?

Ishara Nanayakkara is one of Sri Lanka’s most successful business leaders. He is the Chairman of LOLC Holdings, a company he transformed from a local firm into a global giant. Known for his sharp vision, he has built a business empire that includes finance, hotels, and agriculture. This has made him one of the wealthiest individuals in the country.

His journey began when he took control of Lanka Orix Leasing Company. Instead of following traditional banking, Nanayakkara saw a great opportunity at the community level. He focused the company on microfinance, which means providing small loans to entrepreneurs and families. These people were often unable to get help from larger banks. This strategy was not only profitable but also helped thousands of people start their own small businesses and build better lives.

Nanayakkara’s ambition did not stop at Sri Lanka’s borders. He successfully took his microfinance model to other countries. He built a strong presence in nations across Asia and Africa, turning LOLC into a true multinational corporation. His ability to adapt his business model to different markets is a key part of his success.

Today, Ishara Nanayakkara’s influence is seen far beyond finance. The LOLC Group has major investments in the hotel industry in Sri Lanka and the Maldives. It is also involved in farming and other key sectors. His story serves as a powerful example for aspiring business leaders, much like other great entrepreneurs who have shaped industries. Like e-commerce pioneer Dulith Herath, he has changed his field and built a lasting legacy.

The LOLC Revolution: From Leasing to Micro-Lending

When Ishara Nanayakkara took a key role at Lanka ORIX Leasing Company (LOLC), it was a respected but traditional business. For years, its main service was leasing. If a person or a company needed a vehicle or new equipment, LOLC was a familiar name to turn to for financing. The difference between leasing vs. a loan was its core business model, and it was successful in that field.

However, Nanayakkara saw a much larger opportunity that most banks were ignoring. He looked beyond the cities and into Sri Lanka’s rural villages. He saw millions of hardworking people—farmers, small shop owners, and craftspeople—who had ideas but no access to money. These individuals were considered too “risky” for traditional bank loans because they had no collateral or formal credit history.

This is where Nanayakkara started a revolution. He guided LOLC to shift its focus from large-scale leasing to micro-lending. This meant providing very small loans to people at the bottom of the economic ladder. These loans helped entrepreneurs buy a sewing machine, purchase seeds for a harvest, or get supplies to run a small food stall. It was a strategy built on trusting and empowering people who were left behind by the formal financial system.

This move completely changed the company. LOLC grew at an incredible speed, reaching communities in every corner of the island. It gave thousands of Sri Lankans, especially women, the chance to become business owners and support their families. This focus on financial inclusion was not just a social good; it was a brilliant business plan. It transformed LOLC into a hugely profitable and diverse financial powerhouse, proving that investing in small dreams could create a billion-dollar empire. For many, this was the first step toward learning how to register a small business and achieve financial independence.

Global Conquest: Taking the Model Beyond Borders

Ishara Nanayakkara’s vision was never limited to Sri Lanka. After seeing how small loans could change lives and build businesses at home, he knew the same model could work in other developing nations. He saw a world of opportunity beyond the island’s shores. This was the beginning of a bold plan for global growth.

The core idea was simple but powerful: give small entrepreneurs the financial tools they need to succeed. This model, which helped countless Sri Lankans start businesses and support their families, was ready to be exported. Nanayakkara began looking for countries with similar economic conditions, where access to banking was low but the spirit of enterprise was high.

LOLC’s first major steps were into Southeast Asia. The company entered markets like Cambodia and Myanmar, quickly becoming a leading microfinance provider. The success there proved the model was universal. Soon, the expansion continued into Africa, with operations in countries like Nigeria and Zambia. LOLC was no longer just a Sri Lankan company; it had become a global force in financial inclusion.

This strategy transformed LOLC into one of the world’s most profitable microfinance groups. By taking a Sri Lankan success story to the world, Nanayakkara built a true multinational empire. His journey is a powerful example of creating global impact from home, offering a different path to success for many who might otherwise look abroad. This kind of achievement is a key part of the conversation about a reverse brain drain, where local opportunities encourage talent to stay and build.

Diversification: Building a Conglomerate

A smart business leader knows not to put all their eggs in one basket. After mastering microfinance with LOLC, Ishara Nanayakkara applied this wisdom on a massive scale. He began a journey of diversification, which means spreading investments across different types of businesses. This strategy was key to turning his successful finance company into a powerful and stable conglomerate.

Using the profits and strength of LOLC, Nanayakkara looked for opportunities in other vital sectors of Sri Lanka’s economy. He acquired and grew companies in areas like:

• Leisure: Building a strong presence in tourism with Browns Hotels & Resorts in Sri Lanka and the Maldives.
• Agriculture: Investing in the country’s plantation sector.
• Healthcare: Establishing the Browns Hospitals chain to provide quality medical care.
• Manufacturing and Trading: Taking over established companies like Browns & Company PLC, which deals in everything from cars to construction equipment.

This approach created a business empire that could withstand economic challenges. If one industry, like tourism, faced a downturn, the others could help keep the entire group stable. By creating thousands of jobs in various fields, his work offers compelling local opportunities. This growth is a strong counter-argument to the idea that success can only be found abroad and could even inspire a reverse brain drain of successful Sri Lankans returning home.

Nanayakkara’s vision transformed LOLC from a leasing company into a symbol of Sri Lankan industry, proving that growth at home is possible across many of the nation’s most in-demand sectors.

The Nanayakkara Philosophy: Risk, Innovation, and Impact

At the heart of Ishara Nanayakkara’s success is a clear and powerful philosophy. It is built on three pillars: calculated risk, practical innovation, and creating a lasting impact. This approach has allowed him to see opportunities where others saw only challenges, turning small investments into massive, successful enterprises.

Nanayakkara is known for taking smart risks. He does not gamble blindly. Instead, he carefully studies markets that others ignore. His boldest move was expanding LOLC into microfinance across Sri Lanka, especially in rural areas recovering from conflict. While many investors were hesitant, he saw the immense potential in empowering small-scale entrepreneurs. This belief in the grassroots economy paid off, forming the foundation of his financial empire.

His strategy also focuses on innovation that solves real-world problems. By providing small loans and financial services to people without access to traditional banks, he created a system that helps others succeed. This builds loyalty and fuels economic growth from the bottom up. His success story is a powerful reminder that great opportunities can be found at home, a theme echoed by many successful individuals who chose to build their careers in Sri Lanka. Read more about successful Sri Lankans returning from Aus/UK.

Ultimately, Nanayakkara’s philosophy proves that profit and social impact can go hand in hand. His businesses are designed to lift people up, giving them the tools they need to improve their own lives. By helping thousands of individuals register a small business in Sri Lanka, he creates a ripple effect that benefits the entire nation. His legacy is not just about the billions he has earned, but about the countless lives he has changed along the way.

Legacy and the Future of the Empire

Ishara Nanayakkara’s legacy is more than just building a massive business empire. It is a story of how he transformed microfinance—giving small loans to everyday people—into a powerful engine for growth. His journey started with LOLC, helping small entrepreneurs who were often ignored by big banks. This foundation of financial inclusion remains a core part of his story. He proved that a business can be highly profitable while empowering communities from the ground up.

From these beginnings, Nanayakkara expanded his vision. He took over and revitalized companies across many sectors, including leisure, agriculture, healthcare, and technology. This diversification created thousands of stable jobs and strengthened Sri Lanka’s economy. His approach to seeing value in struggling assets and turning them around offers powerful lessons for Sri Lankan entrepreneurs on risk-taking and long-term strategy.

Looking to the future, the empire is focused on technology and international growth. The group continues to expand its footprint across Asia and Africa, taking its successful financial model to new markets. In Sri Lanka, the focus is on digital transformation to make services more efficient. As the companies grow, they will need a new generation of workers. This will drive demand for the best in-demand skills for Sri Lankans in 2026, particularly in IT, digital marketing, and logistics. Nanayakkara’s empire is not just set to grow, but to evolve, shaping Sri Lanka’s corporate landscape for years to come.