SizweNtsalubaGobodo, the largest home-grown audit and advisory firm in Southern Africa, is joining the Grant Thornton global network as a member firm in South Africa.
SizweNtsalubaGobodo and Grant Thornton South Africa have begun a process to fully integrate as one truly representative national professional services firm under the brand name “SizweNtsalubaGobodo Grant Thornton”. This ambition is envisaged to conclude by mid-2018 and will see SizweNtsalubaGobodo Grant Thornton become the sole member firm in South Africa.
The transaction is one of the most significant developments in South Africa’s professional services market in recent months, and cements the firms’ positions as local and global advisors. South African advisers, but also as key players on the regional and global stage.
Peter Bodin, the newly appointed CEO of Grant Thornton International commented: “I am delighted to welcome SizweNtsalubaGobodo into the Grant Thornton global family. This development is a great example of our commitment to strengthening our capability and capacity in key strategic markets and our ability to attract leading professional firms. What will emerge is one of South African’s leading professional services firms, with a credible global reach, able to help dynamic South African organisations unlock their potential on the domestic, regional and global stage, shaping the future of South Africa’s economy and its people in the process.”
Grant Thornton already has a long-standing presence in the country through its existing member firm, Grant Thornton South Africa. Its member firms operate in over 135 countries around the world, with 50,000 people generating combined global revenues USD5 billion.
SizweNtsalubaGobodo Grant Thornton, built on a strong foundation of the respective firms’ reputations as leading business advisers in South Africa, will provide the best of local business culture and insight with the scale of a global network. This will be achieved by combining the best in local talent with the support of global methodologies, quality and risk processes.
Victor Sekese, CEO of SizweNtsalubaGobodo, commented: “The integrated firm will preserve and build on the identity and reputation of SizweNtsalubaGobodo. This is a very significant development in the proud history of our firm since we will be part of a global organisation that respects and celebrates our heritage. We are proud that together, we will be truly representative of our country’s demographics and remain committed to ongoing economic transformation, dedicated to the growth and global competitiveness of South African businesses, in particular Black-owned enterprises.”
“This exciting development not only creates a significant, empowered and truly African firm with a global reach, but the significant pool of talent also reflects our view that black economic empowerment is not a mere obligation but a key business imperative. It underlines the commitment of SizweNtsalubaGobodo Grant Thornton to be key a player in the transformation agenda,” Deepak Nagar, National Chairman of Grant Thornton South Africa, concludes.