PwC Closes Operations in Nine African Countries Amid Global Restructuring

PwC has shut its operations in nine Sub-Saharan African countries following a strategic review, according to a statement by the firm. The move comes amid reports suggesting PwC pulled out of these countries, which include Ivory Coast, Gabon, Senegal, Cameroon, and the Democratic Republic of Congo, due to mounting risks, unprofitability, and internal disagreements with local partners. Sources claim local firms experienced a loss of business after PwC pressured them to drop risky clients. However, the company’s statement confirming its exit from these markets did not provide any reason for the move. Recently, the firm has been the recipient of hefty fines related to audit failures, including a significant penalty in China. It has also faced a decline in clientele and layoffs across different countries.

Reuters