Satyam targets 75 per cent growth in South Africa | business | Hindustan Times
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Satyam targets 75 per cent growth in South Africa

business Updated: Jul 24, 2007 19:31 IST

Satyam Computer Services Ltd, one of India's leading software services providers, on Tuesday announced its plans for more than 75 per cent growth of its South Africa operations.

"Given the potential, both in terms of business and human capital (in South Africa), we have set an aggressive target of 75 per cent year-on-year revenue growth and we will invest heavily in further developing the local human capital through various skill enablement initiatives," said Virender Aggarwal, director and senior vice president, Satyam's Asia Pacific region.

The company will hire about 200 South Africans for its offices there.

"In the next two to three years, we plan to achieve a leadership position in South Africa amongst our Indian peers," Aggarwal added.

The company is also bullish on several contracts that would be coming up in South Africa in the next few years and sees huge growth potential in providing IT solutions to the banking and finance, energy and utilities and government sectors.

"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," said Sehloho Francis Moloi, South Africa's high commissioner to India.

"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 six per cent growth we have envisaged in our economic outlook," Moloi added.

Currently, Satyam serves six of the largest firms in the country, employs over 120 technical resources at customer locations and has offices in Johannesburg and Cape Town.