Breaking News
Translate

Emerging markets to contribute 30% of global revenue by 2016 – PWC

By PROVIDENCE OBUH

The Pricewaterhouse Coopers has projected that by the year 2016, 30 per cent of its global revenue would come from emerging markets on the African continent like Nigeria and other markets, given that Africa is an important part of growth strategy, says Mr. Dennis Nally, Chairman of Price waterhouse Coopers International Limited.

Nally made these statements during a media parley with Business Editors in Lagos, stating that government is responsible for creating the enabling environment and opportunities for business to thrive in any country.

According to him: “Government today is much more involved in business than ever before, this trend will make Chief Executive Officers (CEOs) and government to collaborate on understanding business models.

“Private sector is partnering with government on creating relationship on business-friendly environment in the world. We know from experience that a regional investment strategy makes sense, not just in Africa but globally.” Meanwhile, Nally’s visit to Lagos, Johannesburg, Capetown (South Africa) in the week, is to announce the next phase of PwC’s regional investment model in Africa and also to support closer alignment between PwC firms in Africa through a new leadership structure.

On his part, Country Senior Partner, PwC Nigeria, Mr. Ken Igbokwe said: ‘In West African markets like Nigeria, we are seeing many local businesses expanding regionally. Their needs differ substantially from an inbound multinational.”

Igbokwe also noted that Nigeria’s problem goes beyond corruption at all levels, saying that corruption is a global menace.

“You will accept with me that there is no country without corruption, the real issue is that we have missed the point, and our corruption is in such a scale that it is holding us back from moving forward, and we have to address it. Corruption is holding us back because at the leadership level, we are not doing what we should.

“We need to balance our yearning to move forward quickly, violence cannot solve anybody’s problem, business cannot thrive in an environment where there is security challenge.”

Exceptional growth opportunity

In Nigeria, confidence is higher than in any other market. A survey by PwC shows that growth opportunities are unprecedented in Africa, leading to higher CEO confidence than ever before.


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.