KPMG has practices in 33 countries and plans to invest $100 million in Africa over the next five years to strengthen its advisory capacity. This is according to Moses Kgosana, Chief Executive Officer of KPMG Africa, in an interview published in Business Day recently.
Mr Kgosana says investment in Africa is part of a wider global strategy by KPMG, which has identified fast-growing emerging markets as a source of both revenue and client growth.
Countries such as Nigeria, Kenya, Ghana and Angola are attracting global investors who are seeking opportunities in sectors such as infrastructure, oil and gas, mining and others. All of these are priority investment areas for the firm.
One of these priority investment sectors is healthcare where, Mr Kgosana says, KPMG has established a healthcare practice that he believes will become a key revenue contributor owing to the demand for primary and specialised healthcare services in Africa.
True commitment through action
KPMG has long been known for its ability to clarify even the most complex challenges for its clients, and develop practical solutions for them. The firm has been producing leading Thought Leadership pieces focussed on Africa to underpin the major investments it has made on the continent and support organisations looking to make similar investments.
These Thought Leadership pieces offer insight into key investment areas on the continent, such as financial services. The firm’s 2012 Africa Banking Survey highlighted key elements to consider when investing in Africa, for example.
The 2012 edition of KPMG’s annual insurance survey included an analysis on the insurance industry in Africa covering 13 countries, documenting items such as macro-economic conditions, regulatory framework and size of the insurance industry.
The Rise of the Phoenix is a powerful opinion piece showcasing Foreign Direct Investment (FDI) and trade in Africa. The discussion is centred on the following three mega-trends: natural resources, consumer demand and infrastructure.
Cutting through the challenges of doing business in Africa
These Thought Leadership pieces support KPMG’s message that it is committed to growth in Africa, and to helping its clients grasp the opportunities available on the continent successfully. The firm has shown its commitment even further with the launch of the KPMG Africa Business Guide – an iPad App that houses not only the extensive thought leadership produced by the firm on Africa, but also fiscal guides for each country and in-depth research on the economic climate, opportunities and challenges of each individual country.
This information is vitally important for any organisation looking to invest in Africa. The App can be downloaded from the Apple App Store or iTunes and is the ideal business companion for investors looking for up to date research and quality insight into Africa’s investment destinations.
The App is currently only compatible with iPad, but will soon be available for Android and Blackberry users as well. Updated quarterly with the latest resources from KPMG, this app puts dynamic content at your fingertips and makes exploring Africa as an investment destination simple.