EY tasks African bizs on global expansion
African firms are being urged by Ernst & Young West Africa to go global in order to compete.
According to Joe Cosma, the firm's Advisory Sector Leader for Government and Infrastructure in West Africa, who spoke with our correspondent at the opening of the company's new Abuja office.
"I would say we need to see more African businesses leaving Africa and expanding internationally," Cosma added. Instead of businesses moving inside, that is, in my opinion, the beginning of growth and the maturity of our economies, but there is still a long way to go.
"The economies of Africa have undergone a significant transformation. They appear to be heading in the correct path. Though occasionally a little slowly, they are all moving. They are all growing up and beginning to act morally.
He emphasized that its operations were assisting in reestablishing trust and confidence in commercial and governmental organizations while also reiterating the importance of its auditing and consulting services to the Nigerian economy.
"We do audit, and audit will give our clients, their shareholders, and other stakeholders that level of assurance. Therefore, auditing will always exist because all of those stakeholders require it. It is easy to understand, he continued.
He remarked that Nigeria's public-private partnership was maturing but acknowledged that the pace of change had been uneven.
Also mentioning Nigeria as an important market for Ernst & Young in West Africa was Senior Partner and Head of Markets Ashish Bakhshi.
"Our clients are aware that we are here to support them, and we hold numerous meetings with them in the office, such as strategy meetings and training sessions, to ensure that they continue to develop alongside us. Make the clients grow and grow with them is our motto, he said.
He claims that the company is dedicated to assisting Nigerian and other African businesses compete on a global scale.
For his part, Busiayo Layade, Chief Operating Officer for Ernst & Young in West Africa, said that the difficulties encountered by businesses operating on the continent were comparable, adding that problems that directly impacted Ernst & Young's clientele also indirectly impacted the business.
We operate in Nigeria. Therefore, the same difficulties that many other businesses encounter with regard to the scarcity of fuel, the value of the dollar relative to other currencies, and rising costs affect our clients, and as they do so, they also affect us.
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