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Thursday, August 21, 2014
Frost & Sullivan recognized some of Africa’s thriving businesses its Awards Banquet held in Cape Town. The awards were based on Africa’s top industry performers who are thriving in the current business environment. Frost & Sullivan says this indicates an approach that is visionary, incorporating innovation and game-changing strategies.
Twenty three awardees were drawn from diverse sectors including information and communication, chemicals and materials, energy, transportation, healthcare and finance. Making it to the top in the chemical sector was South Africa’s Sasol. The South African firm won the 2014 African Chemicals and Materials Visionary Innovation Award.
Based on its recent analysis of the chemicals and materials market in the energy sector, Frost & Sullivan recognized Sasol’s continuous search for new ways of innovation, which placed it among the cream of South African innovators and underlines its commitment to understanding and leveraging the Mega Trend of ‘Innovation to Zero’. Companies in the energy sector are expected to increasingly become a part of the ‘Innovation to Zero’ movement through zero emission technologies (wind power, renewables) and full beneficiation of resources (coal, steel, platinum).
Sasol, for its part, innovates around its own environmental footprint, resources capital, people, as well future business. By focusing on lower-carbon technologies, it has demonstrated a robust understanding of the concept of Innovation to Zero. “Central to innovation are the three principles of: innovation process, knowledge and competency, and organisational support; Sasol has a strong foundation in all three,” said Frost & Sullivan Team Leader for Chemical Materials & Food, Avril Harvey. “It has comprehensive knowledge management tools in place and the main body of the organization supports innovation as a core function.”
In its release on Sasol’s award Frost & Sullivan said that owing to its determination to address market requirements, Sasol’s services and products have evolved to suit current needs. It has ensured a constant high standard of research facilities and systems to deliver technical opportunities and excellence as well as guarantee sustainable growth and profits. It also has a strong intellectual property (IP) portfolio, which currently boasts more than 300 active patent families.
Sasol is growing at an impressive rate, and is already in the top 10 most valuable companies on the JSE. It is also the world leader in CTL and GTL technologies, operating the second largest commercial GTL facility, and operates the second largest commercial GTL facility.
“Sasol is currently building a world-scale ethane cracker and downstream derivatives units and a 96 000 bpd GTL facility in the US; the largest ever foreign direct investment in Louisiana,” noted Harvey. “In Southern Africa, it is involved at all levels of the development of human capital through its various programs that extend from schools to advanced post graduate programs.”
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