PwC Winds Down Operations Across Sub-Saharan Africa
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Global accounting giant PwC has quietly exited 9 African countries, following what it calls a “strategic review” of its operations. The countries affected are Ivory Coast, Gabon, Cameroon, Madagascar, Senegal, Democratic Republic of Congo, Republic of Congo, Guinea and Equatorial Guinea. The firm confirmed the closures in a statement dated 31 March 2025.
🔍 Why the Sudden Exit?
While PwC’s statement did not explain the move, a Financial Times investigation suggests the decision was driven by:
Mounting tensions with local partners
Loss of business—reportedly over a third in some countries
Pressure from global HQ to drop risky clients
It was further noted that PwC may have cut ties with other firms in Zimbabwe, Malawi, and Fiji, citing a combination of risk, scale, and profitability concerns.
🌍 What This Means for African Accountants
This marks a major shift in the presence of Big Four firms in Africa. For local professionals and clients in affected countries, the exit could mean:
Fewer global network resources and expertise
Disruption in ongoing audit or advisory projects
Potential opportunities for mid-tier or regional firms to fill the gap
📉 Global Headwinds for PwC
The closures come amid a string of global challenges for the firm:
A $62 million fine in China related to Evergrande audit failures
A £5 million penalty in the UK for audit lapses at Wyelands Bank
Relationship strain with Saudi Arabia’s sovereign wealth fund, which paused dealings with PwC.
📰 Source: Financial Times, Business Insider Africa
