SizweNtsalubaGobodo (Pty) Ltd., South Africa’s largest black-owned auditing and accounting practice, said it’s working on deals across 14 countries as it seeks to become one of Africa’s biggest such firms.
The firm is expanding into countries including Ghana, Nigeria and Kenya.
“The process is ongoing and is estimated to be completed by the end of August,” Victor Sekese, chief executive officer of the Johannesburg-based company, said. The transactions “‘might involve equity participation, a buy-out or an SNG-branded association,’’ he said, without giving more precise details on the deals.
SNG, as it is known, was formed in 2011 after SizweNtsaluba and Gobodo Inc. merged. Sizwe Nxasana, CEO of FirstRand Ltd., South Africa’s second-largest banking group, helped found the company. ‘‘SNG is focused on building a continental practice,” Sekese said.
SNG will use regional and South African staff to run its units across the continent, he said.
South African companies including FirstRand, telecommunications operator MTN Group Ltd. and retailer Shoprite Holdings Ltd. have expanded across the continent in search of profit as some economies expand faster than at home.
