Johannesburg — THE local branch of Indian technology company Satyam has reported year-on-year growth of more than 100% in its latest financial quarter, and plans to open offices in Ghana and Kenya next month to capitalise on Africa's untapped market for its services.

Satyam SA turned over about $3m last year and is on track to hit $10m this year, regional vice-president Virender Aggarwal said yesterday.

"The business has grown very rapidly for us in SA and our second-quarter revenue has grown more than 100%," he said. "Our base was low, but we will reach $10m by the time this year ends."

New contracts in the oil, gas and banking sectors had spurred that growth, he said.

Its work will also increase in the run up to the 2010 Soccer World Cup, as Fifa has awarded Satyam the contract to create the website for the tournament. Its new sales offices in Kenya and Ghana will initially be run by Indian expats until local recruits are trained to take over.

New York-listed Satyam is a hi-tech consulting and services provider with 45700 staff. The group as a whole reported a 44,8% rise in revenue to $509m for the quarter, with net income of $102m. For financial 2008 its revenue is expected to top $2bn, giving an annual growth rate of 41,5%.

Aggarwal said the constraint preventing it from handling more work in SA was the skills shortage. The company runs intensive year-long training courses in Hyderabad for local black recruits, with almost 60 students now being trained -- 30 more are poised to fly out next month and12 are already back in SA.

"That is bearing fruit and as the number grows larger it will help us grow our revenue faster," Aggarwal said. "We are bidding for some very large tenders and the major impetus for our growth will come when the next graduates come back to give us additional manpower. I don't think business is the problem as much as getting the right people."

Earlier this month Satyam chairman Ramalinga Raju met President Thabo Mbeki at the Brazilian, Indian and South African summit, and raised the idea of government support for more cross-country training initiatives to boost skills.