PwC global network announces record worldwide revenues and restructures Africa operations
PwC, the world's leading professional services network, is today announcing record total gross revenues for the fiscal year ended 30 June 2012 of US$31.5 billion. Revenue growth in the Middle East and Africa was also strong - up 15% to US$1.1 billion - reflecting the business potential and increased investment in the region by the PwC network.*
PwC firms in 16 countries in Sub-Saharan Africa are restructuring their operations to create an integrated business in Africa that is governed and managed by new, pan-African leadership. The new PwC Africa organisation brings together existing firms in Angola, Botswana, Ghana, Kenya, Malawi, Mauritius, Mozambique, Namibia, Nigeria, Rwanda, Uganda, South Africa, Swaziland, Tanzania, Zambia and Zimbabwe.
Suresh Kana, based in South Africa, has been appointed the Africa Senior Partner and Philip Kinisu, based in Kenya, has been appointed as Chairman of the Governance Board.
Suresh Kana PwC Africa Territory Senior Partner said, “We’ve worked well together for a long time, and are focused on providing a heightened level of service to our clients so that we build upon our #1 market position in Africa. We’ve consistently invested in building relationships and creating value within our firms, and we look forward to an even more collaborative culture that will benefit our clients, our people and our business. Our FY12 results are testament to the trust that clients have in the quality of PwC work, the talent of our people and the strength of the PwC network in Africa."
Philip Kinisu Chairman, PwC Africa Governance Board, said, “In 2010 we announced PwC’s planned investment in Africa to access new opportunities in high growth territories and to build strategic capabilities in our Assurance, Tax and Advisory practices. This new PwC Africa business provides a more effective platform for these investments and underpins plans to double the size of the African workforce and revenues* in the next five years.”
The re-organisation has resulted in the creation of three business hubs, in the East (Kenya, Uganda, Tanzania, Rwanda, Zambia and Mauritius), South (South Africa, Namibia, Botswana, Zimbabwe, Mozambique, Malawi, Swaziland) and West (Nigeria, Ghana, Angola).
Ken Igbokwe, Regional Senior Partner, PwC Africa West Region, said, “A key feature in PwC’s success in Africa has been our foot print of strong, locally-owned country firms. PwC Africa will enhance this feature with a strong regional approach to our markets. In the West, strong growth and vibrant, commodity-led economies provide opportunities for our clients and for us. We are actively looking to expand our footprint into emerging economies like Sierra Leone and Liberia.”
*For more on our aggregated revenues and operations globally, please refer to our Global Annual Review.