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July 19, 2011

PwC to invest $100m in Africa operations

PwC is planning to invest $100m into people and infrastructure in Africa.

PwC said the investment will go towards further building an integrated advisory business and recruiting 8,000 additional partners and staff over the next five years.

PwC UK chairman and PwC’s network leadership team member Ian Powell said Africa is an important frontier for economic growth.

“We believe the regional economy could double by 2020 to nearly $3tn and we are getting a clear signal from our international clients that Africa is an increasingly important market for them,” Powell said.

PwC Southern Africa chief executive Suresh Kana said the firm has great confidence in the future of Africa, “and we are investing heavily in talent and skills development to ensure that we have the right people in the right place to continue to provide value for our clients in the years ahead”.

The $100m investment will come from the network firms in Africa and PwC Global.

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