PwC's Africa Annual Review 2024
We’re pleased to present the 2024 PwC Africa Annual Review, which provides insights into our performance for the financial year ending 30 June 2024.
By PwC
We’re pleased to present the 2024 PwC Africa Annual Review, which provides insights into our performance for the financial year ending 30 June 2024.
As we present this Africa Annual Review, we are inspired not only by the progress we've made but also by the possibilities that lie ahead for our firm and other businesses. Navigating global megatrends, which comprise climate change, technological disruption, a fracturing world, demographic shifts and social instability, has increasingly placed pressure on business’ ability to stay profitable and contribute more to the economy. We are increasingly seeing the important role that big business is playing in building our economies and societies and have prioritised making a meaningful social and economic impact in the last financial year.
To position our firm for this ever-changing business landscape and best serve our clients and stakeholders, we are focusing on four network growth priorities. The Africa Annual Review delves into these four key priorities: business model reinvention, artificial intelligence (AI), data and technology, sustainability and trust in what matters.
Business model reinvention: True business model reinvention means fundamentally redefining how businesses create, deliver, and capture value. At PwC, we recognised that restructuring our operating model into Assurance, Consulting and Risk Services (C&RS); Tax and Legal Services (TLS); and Deals will enable us to reinvent our working methods by incorporating various technologies, including AI, as part of our ‘next-generation audit’ mindset, with a key focus on quality and technical insight.
AI, data and technology: Technological disruption is driving business transformation. The rapid advancement of technologies such as AI, robotics and biotechnology present significant opportunities for innovation for businesses. Leveraging these technologies can significantly enhance business’ productivity, improve efficiency and address critical issues like climate change. However, we must carefully manage their unintended consequences, including cybersecurity threats, misinformation and privacy concerns.
Sustainability: Climate change remains one of today’s most pressing business issues. Rising temperatures, more frequent extreme weather events, dwindling water resources, biodiversity loss and increasing greenhouse gas levels require us to rethink how we live and work. At PwC, we have made progress towards our global commitment of reaching net zero by 2030 and have achieved a 37% reduction in combined overall carbon footprint from our baseline year.
Trust in what matters: In a world of increasing complexity and uncertainty, building trust is paramount. Our approach starts with listening to understand what is most important to our clients and their stakeholders. In Africa, where trust can be a scarce commodity, our role of fostering transparency and reliability takes on added importance.
Additionally, our report focuses on rigorously evaluating our social impact to ensure that we’re driving meaningful and long-lasting change. We used an analysis framework that encompasses economic impact assessment, programme-specific impact mapping and holistic benefit tracking to get a comprehensive view of our societal impact. Explore our societal impact section in the report to see the impact we have had in your region.
PwC’s ambition is to support our clients in building trust and delivering sustained outcomes by providing exceptional services, with quality and ethics at the heart of what we do. As we look ahead, we plan to keep our focus on the four key priorities where we will continue to drive meaningful change and ensure a better future for us all.
Take a moment to see how we’ve built trust and solved important problems.
Best regards,
Dion Shango
PwC Africa Territory Senior Partner