Thekvest

LEADERS IN JOB CREATION & SUPPLIER DEVELOPMENT

About Thekvest


The COVID-19 pandemic has resulted in the world is experiencing an unprecedented economic crisis. Over and above the public health crisis, the IMF estimated that the global economy would shrink by 3 percent in 2020, with only some recovery projected for 2021 (IMF 2020). If the contraction occurred by 5% or more, some experts projected that between 80-180 million people worldwide could be pushed into extreme poverty. The International Labour Organization (ILO 2020) made its voice known and indicated that 305 million full-time workers were at risk of being unemployed or underemployed because of Covid-19[1]

When turning back home, the COVID-19 pandemic impact is glaring and having a major impact on our South African economy and resulting in 6.4% contraction in 2020 and stemming in 2 million additional people living below the poverty line[2]. We have witnessed an unprecedented unemployment increase to 34.9 percent in the third quarter from an already high 34.4 percent in the second quarter of 2021.   When looking at the same with an expanded definition of unemployment, including people who have stopped looking for work, was at 46.6%, up from 44.4% in the second quarter. The youth unemployment rate, measuring jobseekers between 15 and 24 years old, hit a new record high of 66.5% from 64%. [3]

Our approach to transformation does not address the material and key issues in our country. It does not require a structural change for it to be achieved. As evidenced, economic transformation and extreme poverty and unemployment can uncomfortably co-exist.

This is the motivation why at Thekvest, we focus on Economic Inclusion, ensuring no-one gets left behind from being economically active. For Thekvest,

  • It is about breaking the cycle of poverty at its roots and enabling people to feed and take care of their families.
  • It is about creating meaningful and sustainable opportunities for previously excluded small businesses to enable them to exercise their ability to make a living through legitimate means.
  • It means restoring dignity and unleashing untapped potential of people and emerging enterprises for personal and societal benefit.
  • It is about moving from being an economic bystander waiting for rescue to being able to practically be a part of the solution in relation to the poverty and livelihood crisis.

Thekvest partners with organisations that seek to achieve their economic inclusion outcomes. We work together to design solutions and serve as bridgebuilders to catalyse and facilitate meaningful and sustainable economic inclusion. We service corporates, support emerging enterprises and work with eco-system partners.

We help corporates to reframe and embrace principles and benefits of economic inclusion, such as, transacting and conducting business with emerging enterprises that they would ordinarily not transact with and help them to do so in a meaningful way.

  • We start by facilitating economic inclusion strategic sessions with Boards and Management of clients. Once completed and management approval given, we work with our clients to review and map processes and develop policy framework to align the clients’ strategic objectives.
  • In many cases, clients wish for our team to form part of their implementation panel, to manage the projects while balancing the triple constraints of quality, cost, and time. We also work hard to increase the benefit realisation, the value creation and Return on Investment (ROI) of the projects​ we participate in.
  • Some of our services includes, inclusive Supply Chain Solutions

We work with emerging enterprises and entrepreneurs assisting them to understand the requirements for transacting with established corporates on a sustainable basis as well as adequately prepare them to do so.

We create platforms and partnerships with economic inclusion ecosystem players to enable their solutions to be effectively implemented to achieve the desired outcomes and do so in collaboration with pre-existing interventions

Lastly, we, integrate all our solutions through a cloud-based digital platform which seeks to integrate key economic inclusion ecosystem elements in a simple and user-friendly way.

References

[1] https://www.ilo.org/wcmsp5/groups/public/—dgreports/—dcomm/documents/briefingnote/wcms_743146.pdf
[2] https://www.worldbank.org/en/country/southafrica/overview#1
[3] https://tradingeconomics.com/south-africa/unemployment-rate

Contact Details


1st Floor, Unit 4, Waterfront Office Park, Cnr West and Republic Rd, Ferndale

Tel. Number: +27 (0)10 446 0276

Website: http://Thekvest.co.za


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From the Pressroom