PwC Exits Over a Dozen Countries Including Nine in Sub-Saharan Africa Amid Scandal Concerns

11 posts • GPT (4.1)

Updated Apr 16, 2025, 01:30 PM

PwC has ceased operations in over a dozen countries, including nine in Sub-Saharan French-speaking Africa, following a strategic review. The decision, finalized this month after negotiations that began last year, affects countries considered too small, risky, or unprofitable by PwC's global leadership. The African countries impacted are Ivory Coast, Gabon, Cameroon, Madagascar, Senegal, the Democratic Republic of Congo, Congo Republic, Republic of Guinea, and Equatorial Guinea. Local partners in these regions reported losing over a third of their business in recent years after being pressured by PwC's global executives to drop risky clients, leading to litigation and mounting differences. This move follows several scandals and regulatory actions against PwC, including a $62 million fine and six-month suspension in China for audit failures related to the Evergrande fraud, and a £4.5 million fine in the UK for the audit of Wyelands Bank. PwC has also recently cut ties with member firms in Zimbabwe, Malawi, and Fiji. PwC will maintain its presence in Africa through other offices, with operations in Portuguese-speaking countries such as Angola, Mozambique, and Cabo Verde remaining unaffected.

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PwC shut operations in nine Sub-Saharan African countries last month following a strategic review, the Big Four accounting firm said, in response to a media report that said the company exited over a dozen countries to avoid scandals. https://t.co/oQ8uuRiLXP https://t.co/BNEo7imjzc