SAP to Accelerate Africa Investment on China-Sized Opportunity
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SAP AG, the largest maker of business-management software, said its spending in Africa could match that for China to boost annual sales growth from the continent to more than 20 percent, its co-chief executive officer said in an interview.
SAP, which has a target to lift its global revenue to more than 20 billion euros ($25.8 billion) in 2015 from 16.2 billion euros last year, announced in late 2011 an investment plan of more than $2 billion for China. Its first-quarter software sales and profit missed analysts’ estimates as the Walldorf, Germany-based company struggled to close some contracts in Asia.