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Accountants spread their wings to Nigeria [Cape Argus (South Africa)]
[July 28, 2014]

Accountants spread their wings to Nigeria [Cape Argus (South Africa)]


(Cape Argus (South Africa) Via Acquire Media NewsEdge) AUDITING and accounting firm Moore Stephens has taken advantage of Nigeria's new status as Africa's leading economy by investing there.

Charles Reid, chairman of Moore Stephens South Africa, said the growing Nigerian economy, its openness to doing business and robust entrepreneurial spirit has prompted the firm to expand significantly.

"We see huge potential in Nigeria, with its 169 million consumers, a growth rate of about 7 percent annually and infrastructural requirement with will drive business opportunities for support services." Reid and Jeff Blackbeard, Africa Strategy adviser for Moore Stephens, visited Nigeria last week to meet potential investors and Nigeria-based partner firm, RoseWater Partners.



The firm plans to enrol four to five new member firms to become a 20-partner, 300 to 400 staff firm across Nigeria, which will manage audits and compliance as well as advice on starting up businesses in Nigeria.

Blackbeard said the firm was starting the process of expanding the Moore Stephens umbrella in Nigeria to include all the major centres and increase the size of their client base.


Moore Stephens also hopes to expand the network into other African countries including Benin, Cameroon, Ghana, Chad, Liberia, Ivory Coast and Senegal.

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