Pwc Shuts Operation Across Parts Of Africa

PricewaterhouseCoopers PwC has confirmed its withdrawal from nine Sub-Saharan African countries following a strategic review of its global network. The announcement marks one of the most substantial regional retreats by a Big Four accounting firm in recent years, as it reassesses operations in markets perceived as high-risk or underperforming.

In a statement published on its official website, PwC said it had shut down its offices in Ivory Coast, Gabon, Cameroon, Madagascar, Senegal, the Democratic Republic of Congo, Republic of Congo, Republic of Guinea, and Equatorial Guinea. The move follows a broader restructuring effort across the firms global network, aimed at aligning operations with long-term strategic goals.

PwC operates as a global alliance of independently managed firms under a unified brand. While it did not provide explicit reasons for the closures, it noted that the decision emerged from a network-wide evaluation of its structural and commercial priorities.

The development follows reports of internal friction between PwC's global leadership and local partners, particularly regarding a directive to de-risk client portfolios. According to the Financial Times , which cited individuals familiar with the matter, several African member firms experienced a sharp decline in revenue-by over one-third in some cases-after being instructed to end relationships with clients considered high-risk.

PwC, however, reiterated its long-term commitment to Africa, stating it would continue to serve clients through established offices in Nigeria, Kenya, and South Africa. "We remain confident in the long-term growth potential of the continent," the firm affirmed in its statement.