Kreston International adds six new members to its South Africa network
Global accounting and advisory network Kreston International has substantially bolstered its operations in South Africa with the addition of six new member firms in the country. The new members bring with them nearly 20 partners and over 300 staff members, including professionals and support staff.
Kreston International is a global network of accounting and professional services firms that was founded in 1971, and has since grown to operate in 125 countries across the globe, currently consisting of as many as 200 member firms, which cumulatively generate fee revenues of over $2.3 billion.
The network boasts more than 25,000 employees worldwide, nearly 1,200 of which work in Africa. The firm has now bolstered this Africa presence by strengthening its operations in South Africa, which acts as its nucleus for the continent. Kreston has added as many as six new member firms in South Africa.
The new member firms will take the Kreston name, and nestle within the firm’s expanisve global network. In Africa, the firm has a presence in key financial centres such as Kenya and Nigeria, and extends to a number of less prominent markets such as Rwanda, Senegal, and Mali.
The offices of Kreston Africa are located in Johannesburg, Pretoria, Bloemfontein, Durban, Stanger, Cape Town, Jeffrey’s Bay, and Mafikeng house, which collectively adds 18 partners, and professional and support staff in excess of 300 people to its network. Kreston member firms largely offer a similar roster of services, spanning auditing & assurance, accounting, corporate & personal taxation, corporate finance restructuring & insolvency, and risk management.
Commenting on the new additions, Kreston CEO Jon Lisby said, “The admittance of Kreston South Africa has given us additional representation in eight major locations. The network’s decision to brand their offices upon entry is testament to their commitment to quality and presents the offices as one cohesive branded firm from the start. Nationally Kreston South Africa is well placed to compete in a challenging economic market.”
Partner at Kreston Pretoria, Heinrich Moller added, “I am delighted that our network has been admitted to Kreston International. We are proud to take the Kreston name and to incorporate its values into our firms. We look forward to working with existing members across the region, forging important relationships and raising the profiled of Kreston International.”
As an emerging global network with increasingly competitive revenues, Kreston will hope to capitalise on the gap left by major accounting and advisory firms such as McKinsey & Company and KPMG, which have recently been embroiled in scandal, consequently losing business and being forced to scale back on their operations.
