EY announces acquisition in Cameroon
EY, global leader in assurance, tax, transaction and advisory is pleased to announce that, following its recent opening of an office in Cameroon, the firm has acquired Expert Comptables Associés (ECA), a Cameroonian based accounting firm that has been operational for the past 30 years. Ajen Sita, CEO: Africa at EY confirms that this move is in line with the firm’s growth strategy and investment plan in Africa.
Joseph Pagop Noupoué, country Managing Partner for Cameroon says, “The decision to acquire ECA is a strategic one in that it further strengthens our capacity in Cameroon and also extends EY’s footprint into Chad, bringing the number of countries in which EY operates to 33 on the African continent. This will allow the firm to service existing clients moving into the Central African region as well as assist new clients in what is developing into an exciting growth market.”
Cameroon’s attractiveness is founded on its political stability and the high quality of its available talent, which is bilingual in English and French. “Although not a major producer, the countries has been extracting oil and gas for decades and is becoming a major mining producer,” says Pagop Noupoué. “This means that Cameroon and Chad can supply African expertise to the new oil and gas producers such as Ghana, Mozambique and emerging players in East Africa.”
“Being part of EY is a tremendous opportunity for our people. Together we can strengthen our footprint by offering a breadth of expertise in Cameroon and within the CEMAC region. We believe that this competitive differentiator will help us become the leading professional services firm in the region”, said Jean Tientcheu Founder and Senior Partner of ECA.
“Africa will contribute significantly to global growth over the coming three years, with Sub-Saharan African set to deliver growth rates of 5.5%, with some of the world’s fastest growing economies in the region. These exciting developments validate our on-going commitment of investing in the right people, systems and solutions to allow for knowledge-sharing across geographies, business units and industry sectors”, concludes Sita.
EY is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 152,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
EY refers to the global organisation of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. This news release has been issued by EYGM Limited, a member of the global EY organisation that also does not provide any services to clients.
Following on from EY’s successful integration in 2008 of 87 countries into one area from across Europe, Middle East, India and Africa (EMEIA), the firm has launched its Africa Business Center™ (ABC), which aims to enhance the effective and efficient links between its geographic reach and areas of expertise. The firm enjoys representation in 33 countries across Africa.