New global accounting firm enters Zim market
Global accounting and advisory firm Forvis Mazars will launch its operations in Zimbabwe in the first week of next month, demonstrating confidence in the domestic market that another global accountancy entity recently exited.
In an interview last week, Forvis Mazars Zimbabwe managing partner Mr Lovemore Kamuzangaza said bringing operations to Zimbabwe was a testament to the country’s economic potential.
He said with a presence in over 100 countries, Forvis Mazars’ Zimbabwe operations would bring the vast experience and network of the global firm into the local market.
The company is a new global network formed from the combination of FORVIS, the eighth-largest public accounting firm in the United States, and Mazars, a leading international audit, tax, and advisory firm headquartered in Paris.
The combined firm, with an expected annual revenue of US$5 billion globally, is considered to be among the top 10 global accounting firms.
Mr Kamuzangaza said the recent amalgamation of Mazars with US audit and advisory firm Forvis, would expose the Zimbabwean entity to an enlarged market.
“From our perspective, we are bringing a firm that is agile,” said Mr Kamuzangaza.
The development follows the exit from Zimbabwe of similarly reputed global audit and advisory giants Deloitte and PricewaterhouseCoopers. Early this year, Deloitte, one of the world’s big four accountancy firms, announced it was leaving Zimbabwe.
Deloitte Zimbabwe has since rebranded and is now known as Axcentium, after a management buyout. PriceWaterhouseCoopers is also reportedly set to withdraw from Zimbabwe by the end of this year.
Despite this, Mr Kamuzangaza expressed Forvis Mazars’ strong belief in Zimbabwe’s future, saying “the future is bright in Zimbabwe.”
“We know the changes that have happened in the market and those changes happened when our plan was already in motion. Even multi-national companies can leave countries, but other multinational companies come in.
“The country has the potential, if you look at the mining sector, for instance, it is expanding so as other industries and services have to be provided.”
Mr Kamuzangaza said the company, being a member of a global entity, had access to resources, skills, and technology. This, in turn, would put the company on a strong footing to offer high-quality services that meet global standards and compete effectively with other players.
“We actually coming in to compete…to be at the top, we are looking to be one of the top firms in the country.”
Mr Kamuzangaza highlighted the exciting synergy created by Forvis Mazars’ global reach and its presence in Zimbabwe.
With a network spanning over 100 countries, Forvis Mazars offers a unique platform for local businesses to connect with international markets and tap into a wealth of expertise.
This could open doors for export opportunities, strategic partnerships, and access to valuable international resources.
Furthermore, Forvis Mazars’ global network presents a tremendous opportunity for Zimbabwean businesses to gain a competitive edge by leveraging the firm’s international best practices and industry knowledge.-herald
