TCS to launch subsidiary in South Africa

Tata Consultancy Services (TCS) today announced that it was launching a new subsidiary, TCS South Africa, to strengthen its focus and expand operations in South Africa.

According to a release issued by TCS to the BSE today, South Africa is a strategic market for the $29 billion Tata Group with the presence of firms including Tata Motors, Tata Steel and VSNL.

"The new subsidiary will help intensify this focus further, and is in line with TCS' global strategy to have a direct presence in the countries in which it operates," the release added.

TCS South Africa will have equity participation from BEE (Black Economic Empowerment) groups in South Africa to ensure a high level of social governance and localisation of services and skills.

S Ramadorai, chief executive officer and managing director, said: "We see South Africa as a key strategic market for TCS and also as a gateway to southern and central Africa. Through our own subsidiary, we will be well-placed to contribute to the economic growth of the country and its businesses by bringing in global best-practices and world-class technology solutions."

TCS South Africa is already working with leading companies in South Africa in sectors like banking and financial services, government, manufacturing, energy, telecom and retail.