South Africa has been named the “Global Destination of the Year” by the Global Sourcing Association, the department of trade and industry (dti) said late on Wednesday.
Trade and industry minister Rob Davies said the award, South Africa's fifth since 2012, was a recognition of the country's value proposition and credible offering, combining global best practice, a talented and scalable labour pool with government support to attract international outsourcing work.
He said since the establishment of a global Business Process Services (BPS) footprint, South Africa had been recognised as a leading offshore BPS destination.
Business process services are those outsourced to organisations that specialise in taking up outsourcing activities. Specific business processes that are not the core competencies of an organisation can be outsourced to companies specialising in taking up those activities, giving the companies more flexibility to manage finances and operations.
South Africa beat off competition from Ukraine, Mauritius and Northern Ireland for the global destination award.
"Since 2012 the South African Offshore Business Process Services market has experienced compounded average growth of over 20% year on year and now boasts around 40,000 offshore jobs, with the U.K being the leading buyer of South African BPS services followed by Australia and the USA," Davies said.
"This growth is expected to continue as the dti prepares to launch the revised BPS incentive scheme at the end of the year."
- African News Agency (ANA)
