Iconic PwC investment in Deals talent shows confidence in East Africa’s growth prospects

PwC announces the appointment of Tibor Almássy to lead its East Region Advisory Corporate Finance, Mergers and Acquisitions (Deals) practice, effective immediately. Mr Almássy has over 20 years’ experience working within PwC's Advisory practice in Central and Eastern Europe (CEE). He joins PwC as a partner and now leads the Deals practice for PwC in the East Region, which includes Kenya, Uganda, Tanzania, Rwanda, Zambia, Mauritius, The Republic of South Sudan, Ethiopia, Djibouti, Sudan and Somalia.

'Tibor Almássy's appointment coincides with growth trends in Africa pointing to the need for deep expertise in valuations, business economics, corporate and project finance and strategy consulting,' says Anne Eriksson, Country and Regional Senior Partner for PwC Kenya and the East Region in Africa. 'Expertise in these areas is essential for investors, development partners, governments and local companies seeking growth in the region.'

PwC's annual Africa CEO Survey report reinforces the readiness of East African CEOs to invest in M&A activity next year with 68% of CEOs indicating confidence in their companies' growth prospects over the medium term. (The Africa Business Agenda, www.pwc.com/theagenda). Also in view of attributable challenges with M&A projects across the region, PwC’s recent Valuation methodology survey: An African perspective (2012) http://www.pwc.co.za/en/publications/valuation-methodology-survey.jhtml shows that failure to agree upon valuation has been the single most important cause of uncompleted deals in emerging markets. Mr Almássy has extensive experience in these areas and others.

Prior to joining PwC's network in Africa, Mr Almássy has provided service and expertise especially to energy infrastructure and capital projects in various sectors. In his prior role, Mr Almássy was based in Budapest, Hungary where he also led PwC's global valuation practice and was responsible for the capital projects and infrastructure business in CEE. He has been a PwC partner since 2000. 'The challenges and the opportunities faced by our clients here are in many ways similar to those of the emerging markets of CEE', indicates Almássy. 'The economic-regulatory reforms, including the privatisation process, the use of PPPs and the inward investment cycles will enable our Deals services to be utilised with increased benefits for our clients in eastern Africa,' adds Almássy.

'Tibor's experience within the emerging markets of Eastern Europe will be of great benefit to our clients and markets in Kenya and eastern Africa,' concludes Ms Eriksson.