SizweNtsalubaGobodo: Expansion sought in 14 African states

SizweNtsalubaGobodo (SNG) was working on deals across 14 countries as it sought to become one of Africa’s biggest accounting firms, South Africa’s largest black-owned auditing and accounting practice said yesterday. “The process is ongoing and is estimated to be completed by the end of August,” chief executive Victor Sekese said. The transactions “might involve equity participation, a buyout or an SNG-branded association”, he said, without giving more precise details. SNG was formed in 2011 when SizweNtsaluba and Gobodo merged. FirstRand chief executive Sizwe Nxasana was a co-founder. “SNG is focused on building a continental practice,” Sekese said. It was expanding into countries including Ghana, Nigeria and Kenya and would use regional and South African staff to run the units. – Bloomberg