Khonology accepted the challenge to address the skills gap in Africa. They have developed several models and tools utilising technology to accelerate transformation in a sustainable and empowering manner for both Africa’s youth and Africa’s businesses. They have focused on the financial services sector across Africa which is currently undergoing massive transformation due to the speed of technology innovation and disruption within this industry. This sector is also one of the largest contributors to the GDP and is uniquely placed to be a key player in transforming the economy and enabling greater participation in the digital economy. In addition, the estimated spend on technology by organisation within South Africa alone is forecast to total US$20 billion in 2016/17 according to a report by Gartner. Khonology has successfully managed to grow significantly to-date by both increasing their client base and ability to be a significant job creator. Khonology is an award-winning company having won the following awards of the last three years, Winner of the Entrepreneur of the Year – Job Creator Award (Sanlam & Business Partners), Rising Star of the Year (Standard Bank), TT100 winner of Systems (Da Vinci) in the top 100 technology companies in innovation across South Africa.
Michael is an ex-banking technologist with a passion for making a difference and building future-proof businesses. He grew up in Zimbabwe and was heavily influenced by his grandfather who always challenged the status quo and asked the difficult questions, advising Michael to “swim upstream, don’t follow the crowd”. This set the scene for how Michael started Khonology; a client once told Michael that there are no skills or talent in Africa and Michael would be better off returning to the UK, where he had spent the last 13 years building a career in Financial Technology, Michael was convinced that he could use his skills and knowledge to prove his client wrong. He set out to develop skilled and talented technologists who would add value and have the necessary attributes to contribute positively to the complex trading and risk environment.