[Interview] Louis Ojong, Founder & CEO of King Software Technology – KISOTEC
Louis Ojong is the Founder and CEO of King Investment Group, a cameroonian who dedicated his life to change life of people through technology,education and financial services specifically loan access to small enterprises in Africa.
Could you tell us about your company?
King Investments Group is a company offering services in three subsidiairies; King Investment Finance - Micro Finance Institution ( Accounts, Loan Facilities and Money Transfers), King Software Technology – KISOTEC ( Build customized software application, builds websites and carry on ads on Google and social media platforms) and King Training Center ( Training on: Entrepreneurship, Business management, specialized program on Credit/Risk Analysis, Web Development, Programming and Coding).
This company was created in October 2020 with Headquarter in Bamenda – Cameroon. At creation, the company was 100% owned by the Founder but the shareholding at the moment stands as follows; Louis Ojong – 70%, Mbi Alice – 15%, Eddie Ebene Zachee – 5%, Dr. Roland Nchufor – 5% and The Redeemed Christian Church of God –King’s Palance Parish – 5%
Let us start by KISOTEC as one of subsdiaries,what is it for?
King Software Technology – KISOTEC offers software engineering services. We build customized software applications. Our vision is to digitalize at least 30% of businesses in Africa by 2040. As at the moment, we proud ourselves with the following applications; Investory Management System, School Management System, Hospital Management System, Human Resources Management System and CCTV Survelliance System. We also build websites, and carryon with ads on Google and social media platforms to enable businesses expand their products/services to serve larger population and generate more income for the businesses.
When was it created and why?
KISOTEC was founded in October 2020 as a subsidiary of King Investments Group. While working as a Banker with business owners, I have realized most businesses still rely on manual records which are never providing desire accounting reports. Most of business lack visibility to the entire world as they fail to use technology to render their services to a wider audience.
It was in this light the KISOTEC was conceived, to provide technology applications for businesses to use and improve on their management, sales/income and profitability. Businesses need accurate reporting system and means to increase coverage, areas in which they can provide their products/services.
What do you think gives your company a competitive advantage?
Our major advantage has been providing free after-sales services like training and updates for customers who need our applications. We help customer build their content and also input information into the systems.
How has the market reacted to your services? Why do you think this is so?
Our services/products are very much appreciated in the market. Because of our closeness to our customers, many more people are embracing the use of technology in their businesses. It was not easy at first to convince a shop owner to use recent technolgy in business but our presence is changing that narrative as we provide them with proper education on its uses and advantages to the business.
What makes your company unique from other companies that offer similar services, if any?
we are interested in our clients growth, as such, we give them extra services on interpreting their reports to them for them to understand their business trend. A very important for every business is to understand his/her growth path in business, it gives them motivation. This is where KISOTEC stands out.
What does your business need to grow and prosper?
we need more capital to acquire more equipment that we buy at very expensive rates at the local markets. Our services need hardware devices which are relatively expensive in local markets. With more capital we can place orders directly from manufacturing companies at cheaper rates and in larger quantities to serve our clients. The quality of their devices need to be at their best to satisfy our clients instead them demanding second-handed products which do not last long. We therefore, need more capital and partners to realize this goal.
What can you say about the changes and developments your company has undergone since its creation?
we started KISOTEC with just the Inventory Management System, but as at today, we can boost of six software applications used in the market. We more than 100% client base as compared to our first year of operations. And of course, our income has increase in the first half of the second year to about 150%.
How is the competition in your sector and how do you deal with it?
technology obviously has competition but like we are very aware of them, innovation and updates on our software applications is crucial and we keep our clients with up-to-date information on the usage and new functions in the systems.
What is the biggest threat to your business and industry?
Our main challenge has been instability in electricity and internet blackout. Knowing this challenges are real, we advice our clients for the use of alternatives. Solar energy for electricity and other internet providers in the place for having just one single provider. at the moment has been to secure our Accreditation from COBAC.
What are your company's plans for 2022?
To build at least one more software application by the end of the year. We are targeting farmers and buyers/suppliers of farm products. We are building a software application that will link farmers and buyers/suppliers no matter where they are for the sale of their farm products.
Is there any latest updates from your company?
KISOTEC is partnering with Ebenezer Education Group to provide free summer holiday training for pupils and secondary school students on basic computer awareness, graphic designs and web development.