Kion Consulting, a South African based company focusing on providing technological and quantitative solutions to the financial services sector, has received an R2,3 million development support from Standard Bank Supplier Development, and SBG Securities, to help expand its operations in South Africa and the rest of the continent.
The development support, offered through the Standard Bank Group’s Securities Supplier Development Programme, will enable Kion Consulting to launch an employment and training initiative that will see the company upgrading the services it offers the local financial services sector, says Kholofelo Shaai, Head of Supplier Development at Standard Bank South Africa.
“The injection of circa R 2.3 million into the business will help Kion, which was poised for growth but lacked the necessary resources to expand, to take their offerings to a broader customer base. This growth will be achieved by Kion’s employment and training of 12 young people, as a start. These people will help expand support offered to clients, including implementations and support on the very highly specialized Murex software.”
“By harnessing Standard Bank’s procurement processes and supporting qualifying suppliers through our supplier development programmes, we are helping to transform the fintech sector by ensuring that black-owned SMEs have access to markets, development services, and the crucial funding they need for growth.”
The support offered by Standard Bank, which backed its appointment of Kion as a supplier by assisting with its development, was a game-changer for the 100% black-owned company, says Keobokile Ratshefola, a Director at Kion Consulting.
“Their generous development support has allowed us to recruit and develop talented young Quantitative and IT professionals, most of whom are women. Standard Bank has been instrumental in helping us achieve our growth strategy and turning our possibilities into opportunities. This support has further facilitated our expansion into the Western Cape, where our plans include the development of young talent and the extension of our services to the asset management industry”.
“We are proud, too, that this financial support has enabled Kion to introduce an extended training programme, which this year included a three-month bridging course for two young women who will now have careers in Global Markets Technology.”
Navigating a shifting socio-economic landscape in which IT and digital skills play an ever-growing part is vital to South Africa’s economy and the nation’s competitiveness, says Shaai.
“Preferential procurement and supplier development are critical to our national progress, and transformation into a balanced society that offers opportunities for all will not be achieved,” says Shaai.
