PricewaterhouseCoopers wins Africa Financial Consultancy of The Year Award

11 December, 2008 - Professional services firm, PricewaterhouseCoopers (PwC), today announced that it has been named the Financial Consultancy of the Year in the 2008 Africa investor (Ai) Investment Awards. PwC firms advised on over 40 transactions across Africa in FY2007/2008, helping them scoop the award from other nominees, including leading investment banks.

The judging panel was looking for a consultancy that could show how it had supported the development of Africa’s capital markets, the sustainable growth of local markets and local currency transactions, as well as delivering services that adhered to global best practice.

PwC was able to demonstrate that its African Corporate Finance teams had distinguished themselves for their expertise and experience in advising clients on complex transactions and the contribution that the member firms have made to the region's economic, social and infrastructure growth.

Vishal Agarwal, the submission sponsor and Infrastructure Finance Leader, PwC Africa Central said, “Ultimately, successful deals are created, not born. Investors and sellers are looking for an advisor who they can do business with, but also has an understanding of what it takes to build sustainable transactions. The African landscape is increasing in complexity and clients are looking for an advisor who can offer a range of international calibre skills on their doorstep.”

PwC firms in Africa have invested in capability to advice on M&A, valuations, buy-side and sell-side Public Private Partnerships (PPP), privatisations, large-scale infrastructure financings, as well as capital market transactions - such as IPOs and rights issues.

Simon Venables, Corporate Finance Leader, PwC Southern Africa said, “We are encouraged by the sustained level of investor interest within Africa. This is coming from a variety of sources, including private equity, infrastructure funds, sovereign funds and trade players. Extracting value from deals and investments in emerging African markets requires a different mindset and approach. Being fully in tune with local business practices, political needs and culture is crucial.”

Elias Pungong, Corporate Finance Leader, PwC Francophone Africa said, “The PwC network has unparalleled knowledge and understanding of the complex operating environment in Africa. We have built a reputation for delivering world-class consultancy services to clients from the public and private sectors. We enable these clients to enhance their business practices and value to build long term competitive advantage.”

PricewaterhouseCoopers
The firms of the PwC global network provide industry-focused assurance, tax and advisory services to build public trust and enhance value for clients and their stakeholders. More than 155,000 people in 153 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.

The PwC network in Africa has member firms in 31 countries with over 6,500 professional staff. We have the largest footprint of all the professional services firms on the continent. We are proud that all our firms are locally-owned and that we are committed to the development and prosperity of the African people and economies.

'PricewaterhouseCoopers' refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.

Ai Investment Awards
The Africa Investor Investment Awards reward exceptional business practices, economic achievements and investments across the investment spectrum in Africa including Best Bank, Sustainable Investing in Africa, Smart Regulation, Best Initiative in Support of the Millennium Development Goals, Businesswoman of the Year, African and International Business Leaders. In addition to business success, the awards emphasise responsibility towards society and good corporate citizenship.