PwC, one of the world’s leading accounting firms, has closed its operations in nine Sub-Saharan African countries following a strategic review, the company confirmed in a statement published on March 31, 2025.
The firm has officially exited Ivory Coast, Gabon, Cameroon, Madagascar, Senegal, the Democratic Republic of Congo (DRC), Republic of Congo, Republic of Guinea, and Equatorial Guinea. The closures were first reported by the Financial Times and later confirmed by PwC in response to media inquiries.
Though PwC’s statement did not explicitly cite reasons for the shutdowns, the Financial Times reported that the decision stemmed from disagreements with local partners. According to the report, local firms had lost over a third of their business in recent years after PwC’s global leadership pressed for the removal of high-risk clients, prompting tensions.
The Financial Times also suggested that PwC considered the affected countries too small, risky, or unprofitable to maintain operations. In addition to the confirmed shutdowns, PwC has reportedly also cut ties with member firms in Zimbabwe, Malawi, and Fiji.
This move comes amid a challenging period for PwC globally. The firm has been grappling with reputational damage and financial penalties, including a $62 million fine in mainland China for audit failures related to property giant China Evergrande, and a $6 million fine in the UK concerning its 2019 audit of Wyelands Bank.
PwC is also attempting to repair relationships with Saudi Arabia’s $925 billion sovereign wealth fund after the kingdom suspended ties with the firm.
As one of the Big Four accounting firms, PwC’s global restructuring signals a broader shift in strategy, potentially impacting clients and operations across emerging markets.
