NAIROBI, Kenya, Dec 11 – Professional services firm, PricewaterhouseCoopers (PwC), has been named the Financial Consultancy of the Year in the 2008 Africa investor (Ai) Investment Awards.
PwC firms won the award for advising over 40 transactions across Africa in the Financial Year 2007/2008, helping them scoop the award from other nominees, including leading investment banks.
According to a statement from the firm, the judging panel was looking for a consultancy that could show how it had supported the development of Africa’s capital markets, the sustainable growth of local markets and local currency transactions, as well as delivering services that adhered to global best practice.
PwC was further able to demonstrate that its African Corporate Finance teams had distinguished themselves for their expertise and experience in advising clients on complex transactions and the contribution that the member firms have made to the region’s economic, social and infrastructure growth.
Vishal Agarwal, the submission sponsor and Infrastructure Finance Leader, PwC Africa Central said: “Ultimately, successful deals are created, not born. Investors and sellers are looking for an advisor who they can do business with, but also has an understanding of what it takes to build sustainable transactions. The African landscape is increasing in complexity and clients are looking for an advisor who can offer a range of international calibre skills on their doorstep.”
Mr Agarwal noted that firms in Africa have invested in capability to advice on M&A, valuations, buy-side and sell-side Public Private Partnerships (PPP), privatisations, large-scale infrastructure financings, as well as capital market transactions – such as IPOs and rights issues.
Simon Venables, Corporate Finance Leader, PwC Southern Africa said, “We are encouraged by the sustained level of investor interest within Africa. This is coming from a variety of sources, including private equity, infrastructure funds, sovereign funds and trade players. Extracting value from deals and investments in emerging African markets requires a different mindset and approach. Being fully in tune with local business practices, political needs and culture is crucial.”
Elias Pungong, Corporate Finance Leader, PwC Francophone Africa said: “The PwC network has unparalleled knowledge and understanding of the complex operating environment in Africa. We have built a reputation for delivering world-class consultancy services to clients from the public and private sectors. We enable these clients to enhance their business practices and value to build long term competitive advantage.”
