The empowerment of human capital

Isilumko Staffing owns the business of Studentwise which has a 13-year successful track record of providing student and graduates for temporary and flexible staffing assignments. The transaction raises the black shareholding in Isilumko Staffing to 50.1%.

HCI is an investment holding company, and has significant equity and capital participation in entrepreneurial-run companies. HCI's controlling shareholder is the investment trust of the union-controlled South African Clothing and Textile Workers Union Investment Company (SIG).

Since the 1990s, Studentwise, a division of Isilumko Staffing has had strong black economic empowerment credentials. The company shareholders wished to facilitate further black economic empowerment in respect of the business, and after an extensive screening process the company shareholders selected Hosken Consolidated Limited ("HCI") as such a strategic shareholder.

The turnover of the Isilumko Staffing company for the year ended December 2003 was R50 million and the after tax profit, R3 million.

Isilumko Staffing has three divisions:

1. Studentwise: Studentwise is today the largest national provider of students for temporary or flexible staffing service assignments in SA. This leading business division has six branches across the country and boasts an impressive list of blue chip companies as clients.

2. Isilumko Outsourcing: Isilumko Outsourcing provides clients with a temporary work force and takes on all the related human resource and employer responsibilities. The business focus has been administrative contracts, Call centre and distribution centres.

3. Graduate & Permanent: The company provides a permanent placement service to graduates and other job seekers.

Says Isilumko director, Larry Katz: "The Studentwise business is the largest and only national staffing services provider placing students and graduates in temporary work positions in SA. Studentwise has branches in six major centres (Jhb, Pta, Dbn, Bloem, PE and CT) and is often called upon by Advertising agencies and marketing departments to assist in staffing campaigns and promotions.

"In addition, Studentwise has a specialist campus marketing services unit which has 13 years of experience in executing campaigns on tertiary campuses on behalf of clients/agencies. The campaigns include peer-to-peer marketing, sampling, promotions, events and often involve the campus media offerings of Campus Radio and Newspapers."