The combined business will be called RSM South Africa. With annual billings in excess of R300m (£13m) and around 400 staff, the merger will accelerate both businesses’ ambitions to drive growth internationally through technology and deep sector specialisms.
Ngubane was established in 1995 with Ngubane Johannesburg commencing operations in 2010 and has traded exclusively in South Africa. Ngubane Johannesburg will, as part of the RSM network, be able to expand its accounting services to clients either already trading internationally, or those keen to do so. The merger will also provide access to RSM’s wide range of services including risk advisory, legal, cyber security, business transformation and corporate services.
RSM International increased its annual revenues on the African continent by 14% last year and the move continues RSM South Africa’s and Ngubane Johannesburg’s strategic transformation and growth. The merger deepens RSM’s expertise in the South African public sector as well as in transport & logistics, mining & resources, manufacturing and education, with Ngubane Johannesburg’s market-leading experience in those sectors.
Commenting on this, RSM International CEO, Jean Stephens, said: RSM International has experienced strong growth across Africa over the last two years. This merger will see two successful businesses with shared ambitions combine, offering scale, innovation and best-in-class talent development. Our ambitious 2030 Global Strategy outlines a major multi-year growth and transformation programme. The merger between RSM South Africa and Ngubane Johannesburg demonstrates RSM’s long-term commitment to delivering The Power of Being Understood to its clients, people and communities.”
Ngubane’s existing CEO Designate, Noma Ashom, is to become the new CEO of RSM South Africa. Current RSM South Africa CEO, Dieter Schulze, will take on the role of Regional CEO of the combined firm’s Cape Town team and will remain Head of Tax.
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RSM South Africa inaugural CEO, Noma Ashom, added: “This merger creates a genuine point of difference in the South African marketplace. It brings together our deep understanding of the South African trading environment with access to international markets and a range of specialist services that RSM is so well known for. It will act as a catalyst for us to move at pace and scale, bringing technology, data and analytics to our clients in new ways. Crucially, the strong cultural fit means we will be able to continue putting people first, harnessing the power of diverse thinking to produce better outcomes for clients.”