PwC Shuts Operations in Nine Sub-Saharan African Countries Amid Strategic Global Restructuring

Global professional services giant PricewaterhouseCoopers (PwC) has announced the closure of its operations in nine Sub-Saharan African countries, marking a significant shift in the firm’s African footprint. The move follows a global strategic review aimed at streamlining its network and safeguarding its reputation amid mounting regulatory pressures.

The countries affected by the shutdown include Côte d’Ivoire, Gabon, Cameroon, the Democratic Republic of Congo, Republic of Congo, Madagascar, Republic of Guinea, Senegal, and Equatorial Guinea. PwC stated that the closures are part of a broader strategy to consolidate operations and focus on markets where it can sustain long-term growth and compliance with global standards.

This decision comes in the wake of several scandals and regulatory actions targeting PwC globally. Most notably, the firm was fined £2.9 million in the United Kingdom for audit failings related to Wyelands Bank. In China, PwC faced a hefty $62 million penalty and a six-month suspension following revelations that it had failed to detect that property giant Evergrande had overstated sales by as much as $80 billion.

In addition to Sub-Saharan Africa, the firm has also pulled out of Zimbabwe, Malawi, and Fiji. In Zimbabwe, local partners have rebranded under a new entity known as Vista Chartered Accountants to ensure continuity of services.

Despite the closures, PwC reaffirmed its commitment to the African market, maintaining robust operations in key countries like Nigeria, Kenya, and South Africa. The firm also assured clients in affected countries that transitional plans have been established to minimize disruptions, with continued support from neighboring PwC offices.

The development reflects the increasing pressure on global auditing and consulting firms to tighten internal controls, improve audit quality, and adapt to evolving regulatory landscapes especially in emerging markets.

As PwC recalibrates its strategy, industry analysts suggest that other major firms may also reconsider their global footprints in the face of heightened scrutiny and shifting market dynamics.