PwC has ambitious growth plans for Africa business
20/07/2011
The company is planning a US$100 million investment in people and infrastructure.

Fuente: www.consultant-news.com   Fecha:  20.07.2011

PwC has ambitious growth plans for Africa business

PwC announced an ambitious growth strategy for its business in Africa. The strategy involves a US$100 million investment in people and infrastructure, a focus on building an integrated advisory business and plans to recruit 8,000 additional partners and staff over the next five years.

Dennis Nally, chairman of PwC International, while in Nairobi, Kenya to announce the strategy and meet with clients, partners and staff said: “Africa is an important frontier for economic growth. We believe the regional economy could double by 2020 to nearly US$3 trillion and we are getting a clear signal from our international clients that Africa is an increasingly important market for them.

“This confidence is supported by our African CEO survey which shows that 69% of CEOs in Africa are very confident of revenue growth over the next three years, compared to 51% of CEOs globally.”

Together with PwC’s Africa Central Territory Senior Partner Philip Kinisu, Nally announced three new initiatives to support the firm’s growth plans:

1. PwC will be investing more than US$100 million in additional skills and business infrastructure in firms across Africa over the next three years.

2. There will be a further integration of PwC firms in order to provide Advisory services across the continent through one Pan African entity.

3. The PwC network will be building world-class skills in Africa through recruitment, developing home grown talent and facilitating international mobility – across all the service lines. This will see PwC recruiting 8,000 additional staff and partners in Africa over the next five years.

Kinisu said: “PwC has been in the region for 65 years – we are confident about our future in Africa and prepared to invest to maintain our number one position. We also want to make sure we continue to provide value to our clients in Africa. Their needs are evolving as they look to transform their businesses in response to changing demographics, consumer tastes and competitor behaviour.”

Nally said: “Our people are our biggest asset and it is no surprise that the majority of our investment will go towards recruiting additional skills, across our assurance, tax and advisory businesses. Our focus will be on developing deeper industry expertise in relevant markets across Africa.”

From 1 January 2012 PwC’s new Pan African Advisory business will bring together the transactions, strategy, operations, HR, financial and IT consulting teams in East, West, and Southern Africa into a single business unit. A new executive team for the PwC African advisory firm will be appointed.

Kinisu said: “We see clear advantages in delivering our advisory services through one regional operating entity. Our transactions and consulting work with clients is increasingly cross-border and requires a broad range of disciplines and expertise.

“At the same time, all our clients are telling us that they want to access skill sets from different countries to complement their local teams.”

The PwC network of firms employs more than 161,000 people in 154 countries. PwC has firms in 31 African countries, which work with most of the continent’s leading businesses and public sector organisations. FY10 results show combined revenue of US$560 million and the firms employing over 7,600 staff and partners.

Industry analyst Kennedy Information ranked PwC number one in the Sub-Saharan Africa consulting marketplace in its Middle East and Africa Consulting Marketplace 2010 – 2013 report published in February 2011.