Deloitte Africa board opens up new avenues for opportunities
Lwazi Bam becomes Africa CEO while Kenya’s Joe Wangai chairs the board
Professional services firm Deloitte has announced a new Africa Board which sees Lwazi Bam, the Chief Executive Officer (CEO) of Deloitte Southern Africa also assume the role of Africa CEO. The seven member board will be chaired by Joe Wangai, Audit leader of Deloitte East Africa.
The Board will ultimately oversee operations across 15 countries in English speaking East, Central, Southern and West Africa. These include Botswana, Namibia, Mozambique and South Africa in Southern Africa, Zambia, Malawi and Zimbabwe in the firm’s Central Africa region, Nigeria and Ghana in West Africa, as well as the East African hub of Kenya, Uganda, Tanzania, Ethiopia, Rwanda and Burundi.
Bam and Wangai are joined on the board by Trevor Brown, Charles Larbi-Odam, Ben Mbanga, Kimani Njoroge and Allen Swiegers.
Deloitte has a presence in 34 countries in Africa and these firms have been clustered into English, French and Portuguese-speaking areas to better facilitate the service delivery for our clients. Deloitte is very fortunate to already have very well established practices across the African continent, with most of them being the leading firms in their markets. The legal integration of these firms will move Deloitte into a completely different league, further cementing its market leading position in Africa. Deloitte in Africa is represented by over 350 partners, over 6 000 people and revenues in excess of R6.6 billion (in excess of US$ 664 million).
Bam says, “Our clients will be the biggest beneficiaries of this integration, we will now have the ability to deploy our specialists in every part of the continent where our clients require the service.”
Deloitte recently bolstered its presence in Zambia and opened new offices in Addis Ababa, Ethiopia. Both countries are strategically important and offer investment opportunities in agriculture, mining, infrastructure development and financial services.
Ethiopia is one of Africa’s most uplifting growth stories of the past two decades with its sizeable population of around 80 million people. Ethiopia is expected to join the World Trade Organisation within the next five years. The country recently hosted the 50th anniversary of the African Union (AU).
“In line with the AU’s vision of an integrated, prosperous Africa, Deloitte sees itself as active partners in realising that vision,” says new Chairman Wangai.
Bam says the new structure will benefit Deloitte professionals through increased opportunities for cross-border work and broader client exposure. It will also afford clients wider access to the firm’s pool of expertise across the regions.
“It will permit the best expertise to be deployed on an assignment, regardless of country, for example,” Bam says, “We have a Pan-African Capital Projects team that is based in multiple locations, headed by a senior partner in Nairobi, which can be deployed anywhere in Africa.”
Wangai adds, “Our mining advisory practice, which has been strengthened through the Venmyn acquisition, will be bolstered by the transfer of senior international resources to Lusaka. This will be the base of our Central African Mining hub.” He further notes, “The history of Deloitte in Africa is longstanding and through this integration Deloitte aims to continue to deliver value-adding services during Africa’s rise.”
Bam has been the CEO of Deloitte Southern Africa and a member of the Deloitte Global Board since June last year. He has been head of the Corporate Finance division and is a member of the Deloitte Southern Africa Board.
Wangai is the Audit Leader for Deloitte East Africa. He is a Fellow of the Institute of Certified Public Accountants of Kenya and served as the Institute’s Chairman between 2005 and 2007. He is a past member and Deputy President of the Executive Committee of Eastern, Central and Southern Africa Federation of accountants (ECSAFA). Wangai holds a Master of Business and Administration from University of Nairobi.