PricewaterhouseCoopers (PwC), one of the world’s leading professional services firms, has officially exited nine African countries. The company cited a strategic review but offered no detailed explanation for the move.
The company announced on its website that it had ended its affiliation with firms in Côte d’Ivoire, Gabon, Cameroon, Democratic Republic of Congo, Republic of Congo, Madagascar, Guinea, Senegal, and Equatorial Guinea as of March 2025. These territories were part of PwC’s Sub-Saharan Francophone Africa network.
“Following a strategic review, the PwC firms in these countries have separated and will no longer be part of the PwC network,” the statement read. PwC added that it remains committed to maintaining a strong presence on the continent and has service continuity plans for clients in the affected countries.
Although PwC gave no concrete reason, reports by the Financial Times and Reuters suggest the exit was partly due to rising tensions with local partners and concerns over profitability and client risk. Sources close to the matter allege that local firms were pressured by PwC’s global leadership to drop high-risk clients, leading to significant business losses, over a third in some cases.
The company has reportedly also cut ties with operations in Malawi, Fiji, and Zimbabwe as part of a wider strategic repositioning.
PwC’s decision comes amid a series of global scandals and regulatory troubles. The firm was fined $62 million in China and suspended for six months over its role in the China Evergrande financial scandal. In the UK, it was fined £4.5 million for audit failures, and in Australia, a tax scandal involving the misuse of government information triggered public and political backlash.
PwC is also barred from working with Saudi Arabia’s sovereign wealth fund for a year, signaling ongoing reputational challenges.
Global Chairman Mohamed Kande, who took over in July, has been steering the firm through a wave of crises affecting major offices worldwide.
The exits from Africa coincide with declining foreign direct investment in the region, with a 2024 report from SBM Intelligence noting a $10 billion loss due to political instability and climate risks, factors that may have influenced PwC’s retreat from what it sees as increasingly volatile markets.
