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PwC global revenue hits US$35bn

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PricewaterhouseCoopers International has reported global gross revenue of US$35.4 billion for the fiscal year ended on 30 June 2015, representing a 10% increase.
“The global business environment remains challenging, with a continuing patchy economic picture, geopolitical issues creating uncertainty for business and fierce competition in the professional services market.  Despite these challenges the PwC network performed exceptionally well in FY15 with growth of 10%, pushing revenues over the US$35 billion mark for the first time,” PwC Chairman Dennis M. Nally said.

He noted that over the last eight years the company had recruited good brains, enhanced services, made key acquisitions like Booz and Company and, also established new products like data analytics.
“Technology is transforming all aspects of our lives and every business, so we are working in alliances with market leaders such as Google and others, to bring the latest and best technology thinking to our clients.
“The PwC brand has been acknowledged as the strongest professional services brand in the world and this reputation is built on the energy, enthusiasm and quality of our 208,000 people and their commitment to working with all of our stakeholders to build trust and to solve important problems,” Mr Nally added.
Meanwhile, PwC enjoyed double digit growth in the Middle East and Africa with revenues up 16%.
According to Hein Boegman, CEO of PwC Africa, the global firm expects increasing growth in the emerging markets in the next few years. “We embarked upon an ambitious investment strategy in Africa in 2012 to build PwC into the leading network in Africa, which is paying dividends. We have invested substantially in the region and our people, and are firmly embedded in the local communities. Our practice in Africa with its over 10,000 staff members is a strategically important asset in the PwC Global network,” Boegman said and noted that Africa’s potential is encouraging.

“We clearly see the opportunity in Africa is huge for a number of reasons. For instance, the level of political democracy has improved significantly over the past 20 years and in the past five years we have seen the discovery of oil & gas reserves in countries such as Mozambique, Tanzania, Ghana and Angola,” he said and added: “We have great confidence in the future of Africa and 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 South African firm recently appointed Dion Shango as the Southern Africa CEO role with effect from 1 July 2015.  Shango, a South African citizen, is the first African black to be appointed in this role within PwC. PwC South African Board Chair, Shirley Machaba, was elected to the PwC Global Board – the first female black partner to be elected to the Global Board. “This bears testimony to our commitment to diversity and inclusion, which are also key focus areas for our global firm,” adds Boegman.

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