How PwC Delivered Transformative Impacts on Clients, Stakeholders in H1, 2022

Peter Uzoho

Global professional services firm, PwC has said its investment and priority in key areas has enabled it to deliver transformative impacts on the company, its clients and stakeholders across Africa in the first half of 2022.

In its PwC Africa Annual Review 2022, which was sent to THISDAY, yesterday, the firm said disruption came in many forms during the last financial year and that it invested in key areas which drove quality and sustained outcomes for the firm and its clients and stakeholders.

The first PwC Africa Annual Review 2022 report narrated the story of a remarkable year for the company, focusing on impact, value creation, strategy and related performance for the financial year ended 30 June 2022.

The firm explained that the report was a reflection of how their network of firms had navigated complexity, responded to change and emerging challenges and new opportunities across the African continent.

According to the Chief Executive Officer, PwC Africa, Dion Shango, “Disruption is the new normal. As PwC Africa, we provide solutions to help manage disruption and identify new opportunities. Over the last year, we have focused on delivering quality services that build trust, deliver sustained outcomes and help our clients to manage change. The PwC Africa Annual Review 2022 describes many of the ways that we deliver transformative impact and also where we’re headed as a business.”

Shango added, “We welcome you to engage with PwC Africa’s expert teams to begin or expand on your journey of investing in your organisation, as we do in ours.

“These approaches help to build trust, deliver sustained outcomes and positively impact Africa’s people and communities. By working together, we can build more resilient organisations and contribute positively to Africa’s growth story.”

Also, the PwC Regional Senior Partner for the West Market Area, Uyi Akpata, stated, “We’ve set ourselves the goal of helping our clients transform for enduring success. It’s exciting and inspiring work and we’re also leading from the front by digitalising our business, investing in our people, focusing on Environment, Social and Governance (ESG), and driving business transformation.”

Akpata, who stated that digital transformation was about more than the technology, noted that it was also about the work environment and embracing a new way of working.

He explained that ESG transformation was an opportunity to redefine the challenges of today’s business environment as opportunities for long-term and sustainable growth.

“Similarly, business transformation helps organisations like ours discover how their core business capabilities present such opportunities for growth”, Akpata added.

However, the report stated that PwC Africa’s diverse community of solvers has the skills and expertise to support those journeys of transformative change.

It said the firm’s global strategy, ‘The New Equation’, was a response to the fundamental changes affecting organisations and society, and was designed to solve the challenges of today and tomorrow.

Noting that PwC people focus on delivering human-led, tech-powered services and solutions in line with their societal purpose, the report pointed out that achieving sustained outcomes requires organisations to remain resilient and adaptable, even during turbulent times.

Explaining that the PwC Africa Annual Review 2022 described their network’s investment in several key areas that support their clients in their transformation journeys, the report listed those areas as value creation, international development, cybersecurity, technology-enabled transformation; and environment, social and governance.

 As businesses around the world continue to adapt to new and unprecedented challenges, PwC posited that the traditional view of value was due for an overhaul, arguing that in pursuing a holistic transformation to achieve long-term, sustained outcomes, untapped sources of growth needed to be explored.

The report further said, “The PwC Africa Annual Review 2022 explores how we help our clients to create new approaches to value creation by holistically exploring financial, operational, and more unconventional angles.  

“Despite significant strides in recent years, Africa continues to face complex development challenges. We are investing in our international development team to ensure we continue to build trust in society by playing a key role in supporting Africa’s growth and strengthening its resilience for the future.

 “Cybersecurity is viewed as a top ten business risk by CEOs across most industries, both globally and in Africa. PwC Africa’s cybersecurity professionals have deep technical and industry specific experience in helping clients navigate their most significant cybersecurity risks, and what really sets our team apart is the depth of local and network capabilities.”

 When it comes to responding to evolving disruptions in the business landscape, the report stated that technology often drives and enables large-scale transformations.

It said PwC’s business technologists work with organisations to interpret and describe their transformational visions, ensuring that their overall strategy was fit for growth, in line with business objectives, and future-proof.  

   “At PwC Africa, we believe that internalising ESG considerations holistically will allow organisations to build trust and ensure long-term sustainability, agility, and competitiveness. Our community of solvers — which includes experienced environmental science, economics, energy, engineering, finance, law, assurance, tax and reporting specialists — have a broad range of skills required to address complex challenges and help clients to integrate ESG into their strategy,” it added.