Satyam Computer Services has confirmed plans for robust growth in South Africa, with a target of over 75% year-on-year growth.
“With South Africa constituting more than 60% of the IT market of African continent and a 20 % annual growth in the IT spends, South Africa offers tremendous business opportunities," Virender Aggarwal, director and senior vice-president of Satyam APAC and MENA, told a press conference in India this week.
"Supplementing this is the talented 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 plan to invest heavily in further developing the local human capital through various skill enablement initiatives."
The Satyam programme involves taking South African IT graduates to India, giving them one year's intensive training and then deploying them on South African outsourced contracts back home. Satyam currently has contract with six local organisations, and has trained 50 students to date, with plans to hire 200 more.
Sehloho Francis Moloi, High Commissioner for South Africa to India, told the conference: "Our country requires an economy that can meet the needs of all our people and their enterprises – in a sustainable manner. This will only be possible if our economy builds on the full potential of all persons and communities across the length and breadth of our country.
"Broad-based Black economic empowerment is not affirmative action, although employment equity forms part of it. It is a strategy through which our Government seeks to bring into the main stream of economic activity those who were previously excluded by discriminatory laws and practices of the past.
"It is also a growth strategy, targeting the South African economy's weakest point: inequality.
"Additionally, South Africa as a market is under serviced and I am glad that a global IT giant like Satyam has partnered with us to associate with the country's inclusive strategy of growth and development and serve the economy in a meaningful way.
"Partnering with Satyam and other companies will also contribute to the development of the kind of skills that South Africa needs in order to sustain the current economic growth that we are enjoying, especially the 6% growth we have envisaged in our economic outlook. "
Last weekend, two Satyam students were killed in a car crash in Hyderabad, India, while another was injured.