Deloitte’s global office has committed itself to making significant investments in its African operations as it looks to enhance its offering to clients and grow the business.
“There are significant investments the global firm will make into Africa. We had our global CEO out about a week ago attending a partners meeting,” Deloitte Africa CEO Lwazi Bam said after the release of the professional services firm’s financial results last week.
“The main thing is we want to ensure the clients in the region are serviced appropriately.”
Bam said the plan in Nigeria was to deepen Deloitte’s offering beyond auditing and build its advisory service.
The growth advisory services business is aimed at multinational companies looking to expand into the continent.
As part of this strategy, Deloitte acquired 100 percent of research and investment advisory firm Frontier Advisory earlier this month for an undisclosed amount. The deal was aimed at helping Deloitte’s clients get a better understanding when it comes to risk and investments and service offering in the rest of the continent and other emerging markets.
Mr Bam said Deloitte Africa would also explore more acquisitions targeting businesses in data analytics, digital and customer experience.
On Wednesday, Deloitte posted a 7.6 percent growth in global revenues to $35.2bn in the year ended-May. Deloitte Africa was growing at 10 percent and the revenues in the region sat at R5.8bn, Mr Bam said.
There is a trend among global professional services firms to grow investments in Africa.
Last week EY said it planned to invest hundreds of millions of dollars in acquisitions in SA and the rest of Africa over the next five years as it looked to grow its business and develop new skills.
In its full-year results ended June, EY posted an 11.6 percent rise in global revenues to $28.7bn.
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