South African traders to invest in Cebu’s outsourcing industry

The Cebu Chamber of Commerce and Industry (CCCI) said South African investors may look into the booming industries in Cebu province, including outsourcing, tourism, furniture, and manufacturing.

CCCI president Virgilio Espeleta made the pronouncement during the group’s meeting with South African Ambassador to the Philippines Radebe Netshitenzhe in Cebu. Netshitenzhe has invited Cebuano investors to explore doing business with their counterparts in the southernmost African nation. In return, Espeleta said South African investors can diversify their investments by looking into Cebu’s vibrant industries, which include the IT-BPM sector.

South Africa is the top foreign direct investment destination in sub-Saharan Africa. Cebu is one of the world’s top outsourcing destinations, according to Tholon’s list.

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