March 31st 2025 marked the exit of PricewaterhouseCoopers from the Francophone countries in Africa; Gabon, DRC Congo, Cameroon, Madagascar, Guinea, Senegal, Republic of Congo and Equatorial Guinea. A move that has been hailed as tactical comes at a time when the big 4 accounting firms are struggling with operational and global pressures necessitating the need for restructuring, in the wake of reduced demand for consulting services in the aftermath of the Covid-19 pandemic – a clear indication that the economy has taken a toll and not even the finance behemoths will be spared.
While Francophone Africa is viewed as a growing and lucrative market, it also has its own share of challenges enough to present problems to a global firm like PwC. Operating in nine different countries requires one to handle different tax regimes, diverse cultures and diverse legal frameworks. Challenges that if not well handled may turn sour to the management.
Secondly, continued rifts with local partners could also have led to this exit. Reports of fights for control and disagreements over strategy and operational independence made it to the headlines undermining PwC’s ability to remain a united force, making divorce the only solution. From 2024, PwC has been plagued by numerous challenges. From having a record of 123 partners called it quits in 2024 according to the Financial Times, to being slapped with a temporary ban on offering advisory services. These setbacks urge a moment of reflection, correct their misdoing and get back on track. This means that PwC may prioritize regions that offer higher returns such as America and Asia at the expense of Francophone Africa, mirroring a trend of multinationals recalibrating in volatile markets and focusing on more fertile fields.
PwC Francophone exit is therefore a masterstroke retreat that tries to balance operational inefficiencies and global pressures. It is a calculated step back that will only prune the lower branches while allowing the upper branches to flourish!
