PwC was named ‘Gender Icon Firm of the Year’ at the Standard Bank Top Women Awards. This award was in recognition of our outstanding commitment to transformation, diversity and inclusion.
We're proud of PwC South Africa partners Busisiwe Mathe and Anastacia Tshesane on being named Emerging Business Leader of the Year and Audit Partner of the Year respectively at the African Women Chartered Accountants (AWCA), Woman of Substance dinner.
The core of our transformation strategy is to develop our leadership from within, starting at entry level. Retaining talent for long-term careers requires providing an exceptional work experience, ongoing learning and a constantly evolving corporate culture.
We have steadily grown our ACI ownership from 8% ACI in 2008 to 31% in 2019. ACI female ownership is currently at 10% in 2019. This growth highlights the successes of our organic pipeline management strategy over several years. The firm has exceeded the minimum of 50% ACI partner admission for the last five years.
On 1 July 2019, the following changes took place in the Management Committee of PwC South Africa:
Shirley Machaba was appointed CEO
Anastacia Tshesane was appointed Transformation leader
Johannes Grosskopf was appointed Operations Leader
Kalane Rampai was appointed Consulting Leader
The composition of the Management Committee is now 38% female and 50% ACI.
The diversity of our firm contributes to its growth in various ways. PwC’s goal is to achieve a staff profile reflective of the demographics of South Africa and to achieve equality in the workplace. We will accomplish this goal by focusing on our talent management and succession planning. To accelerate our transformation agenda, we have committed to ensuring that a minimum of 50% of new associates and new recruits are ACI candidates.
The firm has also implemented tailored development programmes to accelerate development of ACI talent in line with the firm’s ACI retention plan. PwC South Africa employs 5 154 permanent people, including partners, of whom 54% are ACI. Fifty-six percent of staff are women, 33% are ACI women.
PwC is registered for skills development purposes to the Finance and Accounting Services Sector Education and Training Authority (FASSET). We are well aligned to FASSET’s strategy and sector skills plan to improve skills development in South Africa. By submitting the annual mandatory grant with prescribed information on our employees, training implemented during the year and our Work Skills Plan, we secured our mandatory and discretionary grants for 2018/2019.
The discretionary grants received from FASSET consist of grants for employees placed on learnerships, internships, bursary students and employees that we placed into permanent employment. Grants in excess of R17 million were directly utilised in the further development of our employees and bursary students. We are making a significant contribution to developing people in areas that were identified as scarce skills in South Africa and we actively subscribe to a life-long-learning culture.
We invest significantly in formal and experiential learning and development initiatives with intentional focus on the development of ACI staff. For the past five years, Association for The Advancement of Black Accountants of South Africa (ABASA) has recognised PwC for qualifying the largest number of historically disadvantaged CAs annually.
In line with our purpose, we have invested in several initiatives to nurture future leaders. Our Foundation for the Future programme exposes talented young graduates to various operational disciplines within our Advisory line of service and provides them with opportunities to be mentored by directors and senior managers. The programme is in its second year, following the success of the first, in which 54% of graduates recruited were ACI and 90% of the total intake was employed by the firm on completion of their internship.
We launched the first in a series of youth development seminars in June (youth month) in Johannesburg. With the theme of “advancing youth economic empowerment”, the seminar offered unemployed youth practical techniques and tools for searching for a job as well as for refining their entrepreneurial skills to make a difference in their communities. Attendees came from as far away as KwaZulu-Natal.
The firm invested R12.8m million in bursaries in 2019 (R12.7m 2018). Of this, 77% was directed to ACI individuals. Over the past 16 years, a total of R230 million has been invested in learnership programmes, which have qualified more than 2 400 CAs from historically disadvantaged communities.
During the year under review we continued to help small businesses grow, by drawing on our expertise (and those of external partners) to assist small, medium and micro-sized enterprises (SMMEs). Apart from contributing to economic transformation, this approach has enabled us to develop a potential pipeline of new business for the firm.
For more information, visit the Our Societal Purpose section.
Preferential procurement is another pillar of our transformation strategy, where the focus is on increasing spend with black-owned and black-female-owned businesses. More than 80% of our procurement is channelled towards entities which embrace B-BBEE and have a valid B-BBEE scorecard.
Our procurement policy aligns with B-BBEE legislation, which includes specific targets for preferential procurement with a focus on qualifying small enterprises (QSEs), exempt microenterprises (EMEs) and entities that are predominantly 51% ACI or 30% ACI women owned.
We are committed to working with our existing suppliers to transform their businesses, as well as sourcing products and services from new suppliers that embody the principles of transformation. In addition, we are developing processes that influence behaviour within the firm to source products and services from such suppliers.
Senior Manager, Media Relations, PwC South Africa
Tel: +27 (0) 11 797 4470