South Africa’s GBS industry to reach ‘phenomenal growth’
South Africa’s Global Business Services (GBS) sector — also known as the Business Process Outsourcing (BPO) sector — is set to grow significantly in the UK and US markets.
Business Process Enabling South Africa (BPESA) CEO Reshni Singh said that the United Kingdom (UK) is their key GBS offshore market, with 60% of their local workforce delivering services to the country.
The United States (US), on the other hand, is the second-largest source market, followed by Australia and other parts of Europe.
“We are highly optimistic about the year ahead; the next three years in fact… I truly believe that South Africa is becoming a center of excellence for customer experience,” Singh added.
Unlike other industries, GBS made significant employment gains during the pandemic, which caused them to become a priority sector for job creation prospects for local youth.
The sector created more than 50,000 new jobs between January 2018 and the second quarter of 2021. The GBS industry is targeting between 250,000 and 500,000 cumulative jobs by 2030.
South Africa was also recognized as the top offshore destination for customer experience last year, with international companies like Amazon, Webhelp, and TransUnion making key investments.
