Wipro Looks To Africa's IT Market
Indian IT services provider Wipro Technologies plans to expand its presence in Africa, following 'good traction' made within its existing nine-market African footprint over the last 24-36 months. The company is considering expanding into unspecified selected East and West African markets, as well as countries that border South Africa. With emerging markets reporting fast-growing demand for IT services, particularly outsourcing for key industry verticals, BMI believes Wipro should be in a strong position by moving in on these greenfield African markets.
Wipro's head of African business development, Shailendra Singh, noted in a statement carried by IT Web that the company is considering tripling its African employee base from the current 600 over the next three years as it seeks to take advantage of growing competition within the telecommunications and financial services sectors. These two sectors, he says, are the fastest growing and most IT-dependent across the continent. In the more diversified South African market, however, Wipro is also looking to address other rapidly growing verticals with high IT requirements, such as energy and utilities.
Over the last 18 months, amid increased competition from a wider range of IT service and solutions providers, Wipro has broadened its long-term development strategy to tap the larger growth markets - France, Germany, China, Japan, Australia, New Zealand and the African subcontinent - in recognition of their revenue-generating potential. Singh claims that these growth markets expand three times faster than the global average, about 45% per year.
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