Connect with us

World

Why Global Business Outsourcing Market Needs Smart Matchmaking Platform

Published

on

Global Business Outsourcing Market

By Mark Angus

Global business buyers face many pain points and challenges when finding suitable service providers. Research conducted by GBS.World noted that they can take anything from three months (48%) to six months (7%) before they find a right-fit supplier.

When asked what pain points they experience when finding suitable service providers, over 360 global business buyers from Australia, Canada, the UK and the US said they often lack suitable service provider research/market intelligence (60%). Notably, a further 58% stated that they did not have one central place to go to source services, while 56% indicated that they battled to shortlist best-fit service providers.

Despite this, the global business process outsourcing industry was valued at over $232 billion in 2020 by Grand View Research and is predicted to grow at a compound annual growth rate (CAGR) of 8.5% from 2021 to 2028. This growth matters because it is hugely important in making the world a more equitable place.

In fact, low-income countries typically find it very difficult to compete on a global stage where high-income countries have all the advantages of size, technology, education and, above all, money. The one field where low-income countries can compete and excel in the provision of business services on a global scale.

A bit like sport, the industry is a great leveller and one that is much needed. By outsourcing, high-income markets can (indirectly) support economic and youth impact sourcing job growth in low-income markets, but make no mistake; they wouldn’t be doing so if their cost performance and service delivery were not up to par.

Why do companies outsource?

Companies that outsource business services do so for many reasons. The most common are reducing their costs, accessing value-add services and mitigating business continuity risks. But there are other good reasons too.

For example, many large multinationals don’t want to find and retain, what is often considered support staff, in an increasingly competitive world yet they want to improve their customer experience lifecycle management and service delivery.

As the outsourcing industry has developed and become more effective and productive, it has proven that it can meet all these needs effectively and productively, all while offering a speedy way for clients to reach their target consumer groups and markets.

The range of outsource-able services is another area where the industry has developed. Customer support, contact centres and HR processes are typical services the sector provides, but these now include vertical-specific, value-added functions such as digital channel fulfilment, analytics, training, consulting and optimisation. Technology is also becoming an increasingly significant service offering as it grows and changes at ever-increasing speeds.

Why does the industry need a global online marketplace?

The challenge, of course, is how to unite buyers and service providers of business services for both of their benefit.

While various companies and consultants offer to help buyers decide on outsourced service providers, there are not many comprehensive interactive platforms that let buyers go beyond a search-and-match service. Or, in fact, anything that intelligently sources and matches across the wide-ranging offering of global business services.

I’ve always thought that such a big and significant industry would benefit from having a formal way to introduce buyers and service providers who often operate in very different parts of the world. And now they can through a platform called The World Source Marketplace for Global Business Services – or GBS.World for short. It’s a global online marketplace that enables buyers to find and engage service providers across 12 categories in 70 countries on six continents – and growing.

It’s a bit like a (business) dating app for the Global Business Services sector. Crucial to its success is the tender management and sourcing technology that match buyer requirements to service providers. Service providers are validated, and a host of decision-making tools support the matching process, including consumer and industry research, location analyses, benchmarking, sourcing and advisory services. Both sides of the market can also engage on requests for information and proposals too; it’s a genuine matchmaking service.

GBS.World enables intelligent buying decisions through intelligent matching. But what it’s also doing is further professionalizing the industry to facilitate growth even beyond current predictions, particularly in countries whose economies and people need it most.

Mark Angus is a CEO, a researcher and strategist of Genesis Global Business Services

1 Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

World

Africa Takes Centre Stage as Addis Ababa Hosts the World Public Summit

Published

on

Addis Ababa World Public Summit

By Kestér Kenn Klomegâh

For the first time in its history, the World Public Summit will be held on the African continent. On 29–30 July 2026, Addis Ababa, the capital of Ethiopia, will host the World Public Summit. Africa — “A New World: Africa in Shaping a Shared Future.”

The Summit is organised by the World Peoples Assembly in cooperation with African partner organisations. It will bring together leaders of public diplomacy, representatives of international intergovernmental and non-governmental organisations, academics, experts, representatives of the education and cultural sectors, youth leaders, socially responsible businesses, media professionals, and civil society institutions from across Africa and other regions of the world.

The World Public Summit. Africa continues the work initiated during the First World Public Assembly “A New World of Conscious Unity,” held in Moscow in September 2025, and serves as one of the key milestones in preparation for the Second World Public Assembly “A New World: Values That Unite,” which will take place in Moscow on 18–19 September 2026.

Today, Africa is emerging as one of the principal centres of global development. Rapid demographic growth, expanding entrepreneurship, strengthening regional integration, rich cultural heritage, and the growing role of civil society institutions make the continent an increasingly important contributor to the future architecture of international cooperation.

The Summit will focus on issues of genuine sovereignty and sustainable development, public diplomacy, preservation of cultural and historical heritage, international cooperation in education and science, youth engagement, innovation-driven development, creative industries, and the formation of new partnerships among countries and peoples.

The main business programme of the Summit will take place on 30 July 2026 at the headquarters of the United Nations Economic Commission for Africa (UNECA) in Addis Ababa. Holding the Summit at UNECA highlights its pan-African dimension and creates opportunities for broad international dialogue on humanitarian cooperation and public diplomacy.

The programme will include plenary sessions, strategic dialogues, and expert panels dedicated to values-based development, education, culture, youth leadership, innovation, and international cooperation.

Participation has already been confirmed by Professor Saidou Madougou, Director of the Department of Education, Science, Technology and Innovation of the African Union; Rita Bissoonauth, Director of the UNESCO Liaison Office to the African Union and UNECA in Addis Ababa; Zuzana Schwidrowski, Director of the Macroeconomics, Finance and Governance Division of UNECA, as well as ministers, leaders of public organisations, and representatives of the business community from a number of African countries.

On the same day, the ADWA Victory Memorial Museum—Ethiopia’s national memorial complex dedicated to the Victory of Adwa and an important centre for preserving the historical memory of the Ethiopian people—will host the award ceremony of the regional stage of the V International Competition “Leader of Public Diplomacy”, followed by a large-scale cultural programme.

One of the key outcomes of the Summit will be the adoption of the African Communiqué, reflecting proposals and recommendations aimed at strengthening humanitarian, educational, cultural, and public cooperation between African countries and other regions of the world.

The outcomes, initiatives, and recommendations were developed during the World Public Summit. Africa will be presented at the Second World Public Assembly “A New World: Values That Unite”, to be held in Moscow on 18–19 September 2026.

According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Addis Ababa Summit is an important step toward building a new world founded on mutual respect, cultural diversity, dialogue and sustainable development.”

Continue Reading

World

UK Set for Seventh Prime Minister in 10 Years as Keir Starmer Resigns

Published

on

Keir Starmer

By Adedapo Adesanya

The United Kingdom will get its seventh Prime Minister in 10 years as Mr Keir Starmer announced his resignation on Monday.

The Minister said he is stepping down as leader of the governing Labour Party and will leave office within weeks, scarcely two years after being elected in a landslide.

Mr Starmer says he will remain caretaker prime minister until a new Labour leader is chosen by the party.

Mr Starmer made the announcement after facing growing pressure to hand over to a new leader who can try to revive the government’s flagging fortunes.

He led Labour to a landslide election victory in July 2024, but since then, his popularity and that of the party have plummeted.

His departure was triggered by the victory of Mr Andy Burnham in a special election last week. The popular ex-mayor of Greater Manchester planned to challenge the existing PM for the Labour leadership.

Mr Starmer made the announcement outside the prime minister’s 10 Downing St. residence with a brief statement on Monday.

“The question my party is asking now is whether I am best placed to lead us into the next general election,” Mr Starmer said. “I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.

Mr Starmer is the sixth prime minister in a decade to stand outside 10 Downing Street and announce a premature departure.

It comes the day before Britain marks the 10th anniversary of its vote to leave the European Union, a decision that still affects the country’s economy and politics.

Over the past decade, 10 Downing Street has had six occupants, including Mr David Cameron, who left office in 2016 after the Brexit referendum and was succeeded by Ms Theresa May. She was followed by Mr Boris Johnson, whose tenure covered Brexit and the COVID-19 pandemic. After Mr Johnson came Ms Liz Truss, whose 49-day premiership was the shortest in British history. Mr Rishi Sunak then took office before being succeeded by Mr Starmer, the outgoing occupant of Number 10.

Continue Reading

World

AXIAN Energy Secures $60m for Expansion Across Africa

Published

on

axian energy

By Aduragbemi Omiyale

A financing facility of up to $60 million has been secured by AXIAN Energy, the energy division of the AXIAN Group.

The funding package was provided by MCB, one of the leading financial institutions in the Indian Ocean region.

It comprises a $40 million revolving credit facility with a three-year tenor and extension option, and $20 million in unfunded instruments, providing AXIAN Energy with enhanced financial flexibility, enabling the company to rapidly mobilise resources and seize development opportunities across its target markets.

The energy firm is expected to use the capital to deliver large-scale energy infrastructure projects across Africa.

Over the past two years, AXIAN Energy has significantly accelerated its growth by expanding its renewable energy project pipeline, with solar projects currently under development in Senegal, Benin, Zambia, Côte d’Ivoire, Madagascar, and Burkina Faso.

Building on this momentum, AXIAN Energy now operates a portfolio comprising 350 MW of installed renewable energy capacity, supported by 77 MWh of energy storage capacity, positioning the AXIAN Group as a major contributor to Africa’s energy transition.

The chief executive of AXIAN Energy, Mr Benjamin Memmi, said, “This transaction marks a key milestone in AXIAN Energy’s growth trajectory. It provides us with the financial capacity to sustain the momentum we have built over the past two years, further strengthening our renewable energy portfolio and expanding our presence across new African markets.”

Also commenting, the Global Head of Structured Finance at MCB, Mr Mathieu Delteil, said, “We are proud to support AXIAN Energy in structuring this facility, reaffirming our commitment to enabling transformative projects across Africa.

“By leveraging our sector expertise and deep understanding of regional markets, we have delivered a tailored financing solution that aligns with AXIAN’s long-term renewable energy ambitions.

“This partnership highlights our role as a strategic financial partner, mobilising capital towards investments that drive sustainable growth and accelerate the energy transition across the continent.”

The financing agreement between the two organisations strengthens their long-standing relationship because it is driven by a shared commitment to supporting infrastructure development and economic growth across Africa.

Continue Reading

Trending