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Satyam Announces Robust Plans for South Africa
Posted On : 2007-07-24 00:52:22( TIMEZONE : IST )
Satyam Computer Services Ltd on July 24, 2007 has announced strategic initiatives to strengthen its presence in South Africa. At a press conference held in the city, the media was addressed by Virender Aggarwal, director and senior vice president, Satyam APAC and MENA and Eddie Woods, Vice president, Strategic Deals Group, Satyam APAC and MENA. The guest of honor was Francis S Moloi, RSA High Commissioner to India.
"With South Africa constituting more than 60% of the IT market of African continent and a 20% annual growth in the IT spends, the country offers tremendous business opportunities. Supplementing this is the local manpower pool which can be honed into talented software professionals with Satyam's training. Given the potential, both in terms of business and human capital, we have set an aggressive target of 75% yoy revenue growth and we will invest heavily in further developing the local human capital through various skill enablement initiatives. In the next two to three years, we plan to achieve a leadership position in South Africa amongst our Indian peers," said Mr. Aggarwal.
The Company is banking on a sizeable number of contracts emanating from South Africa in the coming years and sees potential in providing IT solutions to the Banking & Financial, Energy & utilities and Government sectors.
As part of its global strategy, the Company has also recruited and trained 50 South African technical graduates in the last one year. The first batch of 20 has been successfully deployed in projects in South Africa. Essentially an employment and skilled enablement program supporting the RSA's BEEC, the Company plans to hire almost 200 more local technical graduates, train them in India and bring them back to South Africa to associate with various customer projects.
Currently, the Company serves 6 of the largest firms in the country, employs over 120 technical resources at customer locations and has offices in Johannesburg and Cape Town.
