World’s second largest professional services network, PwC is increasing its investment in Africa and building closer links between PwC UK and PwC Africa, as it seeks to meet increasing demand for professional services occasioned by growing trade activity between the two regions.
“This is an exciting development which enhances our ability to serve clients across the fastest growing region in the world,” said Ian Powell, UK Chairman and Senior Partner.
According to him, opportunities for UK business abound in Africa, especially with its abundance of natural resources and seven of the world’s fastest growing economies.
A statement by PwC noted that professional and business support services is one of the most successful sectors in the UK economy, contributing 12 percent of total UK GDP – more than financial services (8.5 percent) or manufacturing (10 percent). The sector has grown by nearly 6 percent a year since Q3 2009 and has been one of the biggest job-creating sectors in the UK economy as well as a major contributor to UK exports.
With the UK renowned for the strength of its business and professional services sector, PwC Africa is therefore expected to experience fast-tracked growth leveraging on PwC UK’s years of experience working with the African team of the company.
“This is great news for our network. Over the years we have built PwC into the leading network in Africa,” said Suresh Kana, PwC Africa Network Territory Senior Partner.
Kana noted that the firm now recognises huge opportunities to further build its capabilities “as we will be able to invest even faster in key industry sectors such as Capital Projects & Infrastructure, Oil & Gas, Government & Public Sector and Financial Services.”
PwC’s increased investment in Africa will help the continent build more local capacity and create teaming and secondment opportunities, said Chicken, who affirmed that the financial services company had a great team in Africa.
As part of the investment, Paul Cleal, PwC UK partner and chair of its Africa Business Group, will be seconded to the African Leadership team and based on the continent.
PwC teams from the UK and Africa have a strong track record of working together to support businesses, governments and NGOs in nations such as Ghana, Kenya, Nigeria, Rwanda and Zambia with expertise in fields such as economic development, climate change, education, infrastructure, natural resources, and power and utilities.