Traditionally, South Africans usually look to the outside world for leadership and skills. However, evidence suggests that perhaps it is time we relook at this and, whilst respectful of international standards, understand the true value we have to offer and enter the global environment more boldly.
With financial management as a frame of reference, let’s look at the supply of, the demand for, and the support for South African talent and skill.
Supply and Demand
The South African Institute of Chartered Accountants has long been recognised as the having the highest standard of its kind in the world.
Not only skilled in finance, South Africans Chartered Accountants are more than competent. CAs are able to speak the universal business language clearly, are easy to do business with, and cost significantly less than the international standard. According to the World Economic Forum, RSA was recently ranked number one out of 144 countries based on its contribution and adoption of the International Financial Reporting Standards.
South Africa has become the third most popular English-speaking resource in the world of outsourcing, with a predominant trend in call centres.
Support (Local and Global)
In an attempt to grow local jobs and the economy, the South African government has introduced a Business Process Services Incentive, through DTI grants coupled with incentives for foreign companies (such as 20% cost saving), to permanently outsource basic services to South Africa.
As modern technology enables us to work off-site in a real-time environment, we are able to work hand in hand with Internationals seamlessly. Considering the potential to add value on either end, this is nothing short of extremely exciting.