PwC signs empowerment deal with Polokwane-based black-owned auditing firm
Empowerment deal is intended to promote empowerment of black professionals and the transformation of the profession.
PwC South Africa has signed an empowerment deal with Dawn Chartered Accountants and Auditors Incorporated, in terms of which Dawn is acquiring PwC's business based in Polokwane. Dawn is a 100% black-owned auditing firm, led by Koko Khumalo.
“This exciting empowerment deal, which is one of the first of its kind in the professional services landscape, underpins and confirms PwC’s commitment to promoting the empowerment of black professionals, firms, women, and the transformation of the profession,” says Dion Shango, CEO of PwC Southern Africa.
As part of PwC’s ongoing enterprise development initiatives, the firm is offering financial assistance to Dawn. Dawn’s staff will also be used by PwC on key client engagements to further promote the transfer of skills.
Koko Khumalo is a former PwC partner, and served on the PwC Governing Board and the Southern Africa Executive Committee during her tenure at PwC. She was the first female at PwC to be appointed in that role. She now leads her own accounting firm, Dawn Chartered Accountants and Auditors Incorporated.
From 1 April 2017, Dawn will operate from the current PwC offices in Polokwane under the name and style of Motlanalo Incorporated.