SizweNtsalubaGobodo has left Morison KSi to join Grant Thornton creating snowball effect consequences on the ranking tables in South Africa.
SizweNtsalubaGobodo will merge with Grant Thornton existing South African member firm, Grant Thornton South Africa, and the new entity will rebrand into SizweNtsalubaGobodo Grant Thornton.
This move could have a considerable impact on Morison KSi who in financial year 2017, was ranked as the largest association in South Africa with a reported total fee income of ZAR 586.1m, of which ZAR 549.7m came from SizweNtsalubaGobodo.
On the other hand, in the same year end Grant Thornton was comfortably ranked as the 5th largest network in South Africa with reported fee incomes of ZAR 677.5m, ahead of BDO by ZAR 147.3m.
With the addition of SizweNtsalubaGobodo, Grant Thornton is expected to consolidated its position as the largest Mid-Tier network in South Africa.
SizweNtsalubaGobodo is one of a few firms referred to as 'emerging firms' in South Africa, which are led by black South Africans and part of the whole effort of transformation towards more inclusion of previously disadvantaged groups in the economy.
SizweNtsalubaGobodo CEO Victor Sekese commented: “The integrated firm will preserve and build on the identity and reputation of SizweNtsalubaGobodo. This is a very significant development in the proud history of our firm since we will be part of a global organisation that respects and celebrates our heritage.”