The partnership will allow Motlanalo to access EY’s global network of resources.
Motlanalo is a black owned audit and advisory firm which currently has 23 permanent staff. In South Africa, there is a drive in business to support more black owned firms in attempt to correct historical imbalances which developed due to the apartheid regime.
The firm’s founding partner Koko Khumalo is a former senior partner at EY and has had two decades worth of experience in client service and practice management roles.
EY Africa CEO Ajen Sita said: “This partnership will allow Motlanalo to gain audit experience in the private sector, with initial focus on bank audits, on the back of EY’s own growth and capability in that sector.
“Through this partnership we are able to ensure that practical skills of handling complex client matters are transferred – in a segment of our market that has been traditionally difficult to access by emerging audit firms.”
Sita continued: “This is one way we are demonstrating our commitment to the South African transformation and inclusive growth agendas. By being part of Motlanalo’s growth journey, we continue to live our purpose of building a better working world.”
The firm will continue to operate from their current offices under the name Motlanalo Incorporated, and will remain independently owned and managed.
Khumalo said: “I have been waiting for an opportunity to empower my staff by growing their skills set and exposing them to different auditing environments – something that has remained difficult for us to achieve to the fullest to date. Through this partnership, our three offices will have access to unrivalled growth and learning opportunities.”