By Max Clarke
‘Big Four’ professional services firm, PwC, are preparing to cement their dominance in the African continent with the help a $100 million investment in ‘people and infrastructure’.
Anticipating Africa’s economy to double over the next decade, PwC and their worldwide client network are increasingly focusing on the world’s 2nd most populous continent.
“This confidence is supported by our African CEO survey,” said Dennis Nally, Chairman of PwC International, “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.”
PwC’s US$100 million investment will be staggered over the next three years and spread across key markets in Africa. It will be targeted at recruitment and enhancing business infrastructure — including new technology and expanded office space.
PwC’s African focus is being replicated by big business across the continent. Global beer giant, SABMiller recently opened a large scale brewery in the fledgling landlocked nation of South Sudan, whilst HSBC Africa has recently spread beyond its home in South Africa, opening offices in Angola, Kenya and Nigeria. Barclays also operates in 10 countries across the continent, representing a colossal source of growth.
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