Press release

1 Dec 2021 Johannesburg, ZA

EY Cova is here.

EY acquires COVA to broaden its tax offering in Africa.

News release

Samantha Rech

Media Relations (South Africa)

samantha.rech@za.ey.com

+27117724305

EY acquires Cova to further enhance its tax and sustainability offering in Africa

Johannesburg, 1 December 2021: EY is pleased to announce the successful completion of its acquisition of Cova Advisory and Associates, which is now officially part of EY Africa.

Marking the occasion, Cova has changed its name to EY Cova. This new name reflects the strength of the new expertise that the acquisition brings to EY Africa. This deal enhances our combined expertise to support clients with advisory services across government grants and tax incentives, energy and carbon, and global trade.

Welcoming the EY Cova team to EY, Ajen Sita, CEO of EY Africa says: “This is a strategic acquisition for EY as we expand our service offerings to support our clients with their sustainability and long-term value strategies across Africa. Accelerating growth with strategies that consider the environment, social issues and governance is a priority for all companies.  EY Cova will play a key role in enabling our clients growth ambitions.”

Larry Eyinla, EY Africa Tax Leader, says: “This acquisition reinforces EY’s commitment and ambition to be the best tax brand and the most integrated provider of tax services across the African continent. We look forward to bringing the expertise and capabilities of EY Cova and our broader EY teams to our clients, and to help them make better business decisions as we prepare for new global tax frameworks ahead of us.”

“We are delighted to be joining EY, a leading global professional services network. EY enables Cova to offer its clients and people broader and better opportunities to connect tax and sustainability services to impact growth” says Tumelo Chipfupa of EY Cova.

“Throughout our discussions with EY, it’s been clear to us that we share common values and goals, and so this has felt like a natural fit from day one. This is a great chance for us to come together, to expand our client offering across the continent and to provide additional offerings to the EY team. All the while maintaining and enhancing the exceptional client service we are known for,” adds Duane Newman.

About EY

EY is a global leader in assurance, tax, strategy and transactions and consulting services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

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This news release has been issued by Ernst & Young Services (Pty) Ltd, a member of the global EY organisation that also does not provide any services to clients.