SAP SE (SAP) 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. (VIV), Bombardier Recreational Products, Weir Minerals, eBay Inc. (EBAY), 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 (PRGS), sporting a Zacks Rank #1 (Strong Buy).