Khonology is changing the lives of many young people in South Africa, it has developed an innovative platform that empowers graduates to enter the highly competitive fintech market and successfully land a job at a company.
The Services SETA accredited Khono City training course is an innovative platform on which financial literacy skills are taught and practiced. These critical life-skills are largely focused on financial and economic fundamentals that support the goals of financial independence and security.
Khonology CEO Michael Roberts says when these important learnings are properly embedded, learners are equipped with improved readiness to successfully tackle a range of circumstances that infiltrate their professional, workplace and adult lives.
“This training course has been developed to fill a gap that has yet to be adequately tackled in the training provided by primary, secondary and tertiary institutions. It is not only crucial that this gap is filled, but that it is filled in an innovative, scalable and sustainable way,” he explains.
The training course has been designed to not only educate, but entertain the learners as well. The 5-day training programme is a combination of interpersonal skills, financial literacy, economics and capital markets. The extended six weeks training of the programme fuses finance, technology and social intelligence development for participants to understand the trending fintech.
He says the training can empower the youth to also become active participants in the African economy using finance and technology as inventors or innovators. “Khono City empowers across elementary, high school, tertiary and institutional level.”
The training programme is designed to provide candidates with a practical and fundamental knowledge of the core financial products. This is formed by an understanding of the full Trade/Transaction Lifecycle (TLC) from client to balance sheet, as well as understanding the full Software Delivery Lifecycle (SDLC), that drives the flow of money across consumers, labour markets, business and capital markets.
The subject matter of the training course is delivered in seven milestones. Each milestone has a core message and associated learning outcomes, consistently supported by financial and economic scenario analyses. The content covers a myriad of topics such as personal and business financial literacy; macro and micro-economics; presentation skills; technology skills, investments and goal-setting.
Roberts says the seven milestones have been designed to seamlessly connect with one another so as to create an all-encompassing learning experience. “This is supported by continuously aligning to the common thread that links, supports and anchors all the milestones. This common thread, which is the true driver of the course, is the focus on personal and financial accountability and using technology as a key enabler in this dynamic economy.”
This course will equip and empower learners to use these critical skills, with fine-tuned financial focus, where insightful decisions will be required. The responses to these decisions will be driven by practical knowledge and an acute understanding of the importance of making meaningful movements forward.
“The result will be a more promising and secure future for the learners, their families, their employers/employees and the economy at large,” he concludes.
Khonology has also developed a board game called Khono City. Similar to monopoly, it will help teach children about financial literacy from an extremely young age. The objective is to make better financial decisions than opponents by accumulating more assets than liabilities, while ensuring the time value of money works in the player’s favour.