Kion Consulting, a local company which provides technological and quantitative solutions to the financial services sector in the trading, treasury, risk, and post-trade operations sectors, has received an R2,3 million development provision through the Standard Bank Group’s Securities Supplier Development Programme.
This will enable Kion Consulting to launch an employment and training initiative that will see the company upgrading the services it offers to the local financial services sector, says Kholofelo Shaai, Head of Supplier Development at Standard Bank South Africa.
“The financial development aid to 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 via Kion employing and training twelve young people, who will be tasked with client tech support, and implementation, which includes the specialised Murex software.”
This supplier development backing is a real game-changer for the 100% black-owned company, says Keobokile Ratshefola, a Director at Kion Consulting.
“It is enabling us to recruit and develop talented young Quantitative and IT professionals, most of whom are women – and I’m sure we all agree that supporting women in STEM remains a national priority not only regarding improving lives and livelihoods, but also regarding helping us to grow the economy. In terms of what this means for our business specifically, this financial injection is indeed instrumental in helping us achieve our growth strategy, which includes expanding operations in the Western Cape – and ultimately turning possibilities into tangible opportunities.”
“Another plus is that Kion is now in a position to extend our valuable training programme, which this year included a three-month bridging course for two young women who will now have careers in global markets technology.”
“By harnessing Standard Bank’s procurement processes and supporting qualifying suppliers through our supplier development programmes, we are excited to be helping transform the IT sector by ensuring that black-owned SMEs have access to markets, development services, and the crucial funding they need for growth.”
Navigating a shifting socio-economic landscape in which IT and digital skills play an ever-growing role is vital to South Africa’s economy and the nation’s competitiveness, says Shaai.
“For us, preferential procurement and supplier development is about moving beyond the scorecard – initiatives like this are critical to our national progress, and transformation into a balanced society that offers opportunities for all,” concludes Shaai.
