Professional services firms PricewaterhouseCoopers (PwC) and MSGM Masuku Jeena have merged their operations in an empowerment deal.
The merged entity, which will continue to operate as PricewaterhouseCoopers, will have 37 black partners and 1 000 black professionals, which it says is the largest number of black professionals among the big four firms.
PwC says the main motivation behind the merger is to enhance empowerment in professional services in line with government`s black economic empowerment objectives.
"This merger strategically positions black professionals in leadership roles and provides them with expanded training and career opportunities," it says.
MSGM CEO Sakhile Masuku says his firm`s growth has been constrained by an inability to expand its capacity and infrastructure to meet demands.
MSGM has 14 partners and 174 employees.
"The merged firm will accelerate the accessibility of black professionals to the private sector and I am confident that the enhanced PricewaterhouseCoopers formula will act as a model in creating a conducive environment for black professionals to join the profession," says MSGM chairman Akhter Moosa.
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