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News » South Africa invests $30Mn to expand BPO sector

South Africa invests $30Mn to expand BPO sector

South Africa invests 30Mn to BPO
Photo from GBS.World

CAPE TOWN, SOUTH AFRICA — The South African government has allocated R569 million (US$30 million) to develop the country’s global business services (GBS) and business process outsourcing (BPO) industries this year. 

The funding, announced by Trade and Industry Minister Ebrahim Patel at the annual BPESA GBS and BPO Conference in Cape Town, is part of over R3 billion (US$159 million) invested by the government in the industry since 2016.

The investment aims to expand high-value information technology, finance, healthcare, legal, and retail services across provinces. This aligns with the sector’s predominantly young and female workforce, corresponding with South Africa’s national employment goals. 

The move is part of the government’s strategy to create half a million BPO jobs by 2030, in response to youth unemployment rates exceeding 46%.

Minister Patel noted the challenges posed by artificial intelligence but urged the sector to adapt and find synergies between AI and human talent. He emphasized the need for partnerships with educational institutions to upskill talent, making the GBS sector an entry point for young graduates.

Furthermore, Patel advocated for ethical standards and social responsibility to maintain the industry’s growth trajectory and appeal to international markets.

Read more here.

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