) recently unveiled its decision to promote growth and innovation
in Africa. The company intends to invest as much as $500
million in the seven-year period to expand its business in the
region while laying the foundation for sustainable growth. This
initiative aims to include Africa among the top-five global growth
markets for SAP.
Primary objectives of this plan entail acceleration of industry
growth, promoting innovation and boosting growth in small and
midsize enterprises (SMEs). Apart from this, undertaking
initiatives for developing skilled workforce and ensuring a strong
growth foundation for the people of Africa are also on the cards.
At present, SAP is the leading technology provider in South Africa.
Through the above initiative, the company plans to promote growth
across five key regions including South Africa, Nigeria, Kenya,
Angola and Morocco. SAP, aiming to tap the immense growth potential
of the African markets to generate opportunities for the regional
talent, is planning to train about 10,000 consultants by 2020. The
plan, which can be effective immediately, will direct SAP's
investment toward fostering innovation. This, leading to a better
utilization of the local talent, would in turn drive growth across
the IT industry worldwide.
In a separate development, SAP announced its selection as the
official partner for FC Bayern Munich AG, the Germany-based sports
club. The company will aid the latter's sport analytics
requirement, especially for the football fans. SAP will be
providing a range of software solutions including its advanced
computing platform, SAP HANA to deliver crucial insights into the
game. This will not only enhance the club's customer experience and
facilitate the teams' performance, but will also offer solutions
for its business processes.
Apart from FC Bayern Munich, SAP HANA has also added new members
like ARI, Vaillant Group and JOSKIN Group to its customer base of
over 3,600. Prior to this, the company has added key players like
Telefonica Brasil, S.A. (
), Bombardier Recreational Products, Weir Minerals, eBay Inc. (
), BSH, Bosch and Siemens, among others.
SAP currently carries a Zacks Rank #3 (Hold). Another better-ranked
stock in the industry is Progress Software Corporation (
), sporting a Zacks Rank #1 (Strong Buy).
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