Transforming Giving in CEE: From Transactional to Transformational
Anna Korzeniewska in a discussion on Transforming Giving in CEE with Martin Vohánka, CEO & Founder of Eurowag, Founder of the Blížksobě Foundation, lecturer at the University of Economics and Business in Prague, and one of the Czech Republic’s leading philanthropist.
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Philanthropy in Central and Eastern Europe is at a turning point. With the growing wealth of the society, more and more individuals now have the capacity to contribute meaningfully. Giving is increasingly seen as a long-term investment in society rather than a one-off act. Education, trust, and inspiring role models are emerging as key levers to foster a culture of responsible and impactful giving.
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Anna Korzeniewska: Martin – we both lived behind the Iron Curtain until we were teenagers. Would you say this transformation shaped who you are today? If so, how?
Martin Vohánka: In 1989, when communism collapsed in Central and Eastern Europe, I was 14. My worldview was that we would stay with the Soviet Union forever, a perspective I had through the lens that my parents provided. I had a one-sided view of life. The collapse of the old system created a chance for me to start with a blank page and form my own worldview. I consider that a blessing. It was really about me writing the story of Martin Vohánka – not built on a legacy from my parents, but built by me from scratch, while I had literally nothing to worry about.
AK: I fully agree that a change of the system created incredible opportunities for many of us. But our parents were shaped by the old reality and, through this perspective, they were shaping us.
MV: True. My parents were actively engaged in politics. The change of the system was very hard for them. But
they believed in the concept of shared prosperity and social justice, and through this belief they gave me a strong foundation to build on – values.
There are two important ingredients that I have been leveraging my whole life. The first and most important one is a natural sense of caring for others. The second is entrepreneurship.
AK: Entrepreneurship – in what way?
MV: Not in the conventional sense, but as a natural notion that we can and shall shape the world around us. My parents gave me a clear template through their political engagement: if you have the courage to step into the public space, you will most likely achieve some kind of change. Every interaction with the outside world influences us, shaping and informing us. Business is like an accelerated laboratory of life where all interactions happen much faster than in real life. If you are open and you listen, you can grow much faster. I started my business when I was in high school. I was selling insurance back then. Today, 30 years later, I can say with full confidence that my entrepreneurial path has shaped me profoundly.
AK: What other superpowers do you possess?
MV: I would say that I am a great listener. I was clever enough to realize at an early age that you can learn something from every single person. No one has the absolute truth, but every person, from the most ordinary to the greatest thinkers, can teach you something. They each have their unique wisdom. If you are a good listener, you have all the world’s knowledge available to you. The question is whether you want to absorb it and build on it.
AK: Do you think it is possible to prioritize the common good above individual interests in capitalism?
MV: Freedom and competition are important to me, as is social justice. On paper, we have equal rights, but in practice we do not have equal chances.
While some accumulate wealth of an absurd size, millions are uncertain about their future. People from underprivileged families and people from regions affected by the transformation – like my hometown, a coal mining city – do not have equal opportunities. This is what the world struggles with today. This inequality is reaching a magnitude which, while being scrutinized by social media, makes people think differently about their lives.
AK: In what way?
MV: Humans do not judge their lives objectively, based on statistics. They always compare themselves relatively to others. Because of social media, they see what it could be, and even though we are the wealthiest generation ever, many people are unhappy with what they have. Their new expectations exceed their current reality, creating social tension. I think we are approaching another revolution, and this is not a surprise. In the past, whenever new means of communication or new ideologies emerged, people wanted something better than they experienced so far. History shows that such imbalances were often corrected through revolutions or wars. I hope that now we have a better chance to manage this transition non-violently, because we have accumulated much more wisdom. This is why I have been supporting changes in democracy and education. Whether it will be successful, I am not sure, but I would feel my life was wasted if I did not at least try.
AK: What you have just described should be a priority for every single one of us. Why do you think it is not?
MV: I think it goes back to fundamental beliefs – what your worldview is, and how broad it is.
There is a whole spectrum of people: from those whose objective is to maximize benefits for themselves, to people like Jesus and Buddha, and everyone in between. My father was genuinely interested in philosophy, which I did not see as my passion for many years. But over time, I realized that I can either see the world as a series of random events, or I can try to truly understand it, to get under the skin of things. So I started studying philosophy, spirituality, and religion, which eventually helped me connect the dots. I concluded that we are one entity, one unified field of consciousness, and whatever we do to others, we effectively do to ourselves. This perspective makes me think more broadly, beyond profit.
AK: Do you share your perspective with others – that business is more than profit?
MV: During various economic forums, I ask the audience what the product of business is. People raise their hands and reply that it is profit. And I say, of course it is, but tell me more. We spend the rest of the time discussing it, so that people consciously acknowledge that business is much more than profit. It is the taxes we return to society, our relationship with the environment, and the culture we create within companies, which is a product on its own, not just a performance tool. The point is that as CEO of Eurowag, every day I have a chance to influence the emotions of over 2,000 people, whether they go home fulfilled or frustrated. And there is so much more we can produce, influence, or destroy, with many stakeholders in the game, including our body and soul. There is nothing like a shareholder-first approach. Everyone should get their fair share of attention and return.
AK: And still, at the end of the day, he question that most often comes up in the CEE region is “What’s in it for me?” How do we switch from transactional to transformational?
MV: People often ask me what I invest in – bitcoin, property. First and foremost, I have Eurowag, which is a very successful business. Secondly, the majority of what I get from it I reinvest in philanthropy. This is my way of investing, into a social capital of the country. And the return on it, is a country that is sustainable, resilient, and creates space for individuals to prosper. I want my son, my friends, and their children to be better off. That is why
I am consciously investing in society. This is a very rational investment, although it is long term.
AK: How can we make others follow in your footsteps?
MV: There is a limit to what one can really utilize – we cannot eat 10 schnitzels or buy 10 Ferraris. Of course we could, but what is the real value in it? So I concluded that since all my life needs are covered, the only sensible thing is to improve the lives of others.
But people like me need to talk, and we are talking, even though it is still culturally unusual in some parts of the CEE region. Two years ago I was in Slovakia and people were surprised that I share so openly how much I give back. Recently I was sitting with a guy who has three times more wealth than I do. I told him that last year I gave three million euros to philanthropy. He said, “Really?” and you could see him start calculating in his head how much he was giving, and I know he is giving much less than I do. This is the soft pressure we are creating. But there will always be people who feel philanthropy is not on their agenda. Their worldview is not compatible with it.
Our ambition should not be to convince everyone, but to build a critical mass of committed people who will eventually influence the rest. When you reach a certain tipping point, things will change.
AK: And there is significant potential in CEE now. We have a growing number of individuals who have the capacity to contribute meaningfully. Not just those who have accumulated significant wealth, but also among the general public – people who, after covering their living and lifestyle expenses, still have something to share.
MV: This is exactly why we invest in the education system. Education is where democracy is born. Harvard says, “Culture eats strategy for breakfast.” Giving back has to become the new normal. I imagine a world where giving back is something completely natural – how we think, act, and influence others. It is a way to turn idealism into everyday practice.
AK: The problem I see is that we lack trust – toward governments, businesses, and nonprofits.
MV: It is a cultural issue. In some regions, to prosper or even survive, you had to rely on your closest circle of people. In others, survival without a broader community was impossible due to harsh natural conditions. The CEE region is somewhere in between. We need time. And we need pioneers to show a better way of doing things.
AK: Is this why you decided to offer trust to the nonprofits you support? To shift the norm? It is not common in our region to grant 100,000 euros with almost no strings attached. How do you feel about not having full control over how the money is spent?
MV: Bureaucracy exists to minimize risk, not to maximize impact.
Philanthropy is about love for humankind, and it is hard to imagine genuine love without an ingredient of trust. Secondly, trust lowers transactional costs and streamlines action. It is the donor’s obligation to do due diligence before issuing a grant – to learn as much as possible about the organization, its strategy, and the people behind it. If this is done properly, there will be far fewer concerns about how the funds are used. It becomes a mutual exchange aimed at creating value.
AK: How do you embed your personal values across the board – as a CEO, a father, and a husband?
MV: I think it is all about consistency. What I say publicly, I have to live in my personal life, regardless of what I do or with whom. It is about authenticity. With my wife, Hanka, we do philanthropy together. We talk about it at home. Through these discussions, our son is naturally exposed to it. I am confident that when the time comes, he will become engaged in these matters.
AK: What would you advise to your peers with a similar capacity to support social causes who have not yet chosen to do so?
MV: I would advise them to look at the world around us. We are at a breaking point. If someone believes they can protect their personal wealth from the massive storm that is coming our way, they are being very naive. The new perspective of the general public on the state of their wellbeing – driven by instant access to the wealth and beauty of others through social media – makes people seek a better equilibrium. We cannot let these issues be resolved through conflicts or revolutions.
I know we can do something about it. And we must do it now.
AK: Thank you, Martin. It was a pleasure speaking with you.
MV: Thank you, Anna.
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The interview was conducted on February 9, 2026 via Zoom platform.
CEO & Founder of Eurowag. Having started his entrepreneurial journey in high school, Martin founded W.A.G., known under the brand name Eurowag, shortly after graduating in 1995. Over time, he expanded it from offering payment solutions to an integrated platform for the commercial road transport industry. Today, Eurowag is a technology leader ambitiously transforming the entire sector, employing over 2,000 professionals across 28 European countries. It is the only Czech company whose shares are traded on the London Stock Exchange. Martin holds an MBA from the University of Pittsburgh, completed the OPM program at Harvard, and lectures at the University of Economics and Business in Prague. He is one of the Czech Republic’s leading philanthropists and founder of the Blížksobě foundation, which primarily supports the development of democratic values and the transformation of education systems. He is the initiator and signatory of the Second Economic Transformation project.