Celebrating 26 years of building trust and solving important problems

As our country celebrates Heritage Month, we reflect on our firm's history and its place in our nation's business landscape. PwC's story is one of growth and change, spanning more than a century.

Our journey began in the mid-1800s when our founding firms were established in the United Kingdom and United States. These early pioneers laid the groundwork for what would become a global network of professional services firms.

In 1921, PwC's roots in South Africa took hold as Price Waterhouse opened its first head office in Johannesburg. This marked the start of our long-standing presence in the country, a presence that would grow and evolve over the decades.

Since then, the story of our firm unfolded through key events that have shaped us over the years. From our earliest predecessors to the PwC we know today, each milestone has played a crucial role in our development. The timeline that follows charts this journey, highlighting the mergers and expansions that have deepened our roots in South Africa while extending our global reach.

• 1849 - Samuel Lowell Price establishes his sole practice in London
• 1854 - William Cooper founds his business, later joined by his brothers to form Cooper Brothers
• 1865 - William Hopkins Holyland and Edwin Waterhouse join Price to create Price Waterhouse

• 1921 - Price Waterhouse opens its head office in Johannesburg
• 1957 - Cooper Brothers & Company (UK), McDonald, Currie and Company (Canada) and Lybrand Ross Brothers & Montgomery (USA) merge to form Coopers & Lybrand
• 1982 - Price Waterhouse World Firm is founded

• 1988 - Hoek & Wiehahn and Meyernel, Altmann & Brugman merge to create WiehahnMeyernel
• 1990 - Theron Du Toit and Coopers & Lybrand merge to become Coopers Theron Du Toit, later renamed Coopers & Lybrand in 1995
• 1991 - Price Waterhouse merges with established South African firm WiehahnMeyernel to become PriceWaterhouseMeyernel and later Price Waterhouse

PwC South Africa's journey from the head office in Johannesburg office to a key player in a global network mirrors our nation's own evolution. Over the past century, we've navigated economic shifts, political changes and technological revolutions. Our community of solvers has grown more diverse and skilled, enabling us to meet the ever-changing needs of our clients and society. This growth reflects our global strategy, The New Equation, focussed on building trust and delivering sustained outcomes in an environment of constant change.

While expanding globally, we've maintained our African identity through our Ubuntu Bethu or Our Humanity strategy. This unique strategy allows us to blend international best practices with local insights—a key aspect of The New Equation's focus on human-led and tech-powered solutions while honouring our values. We embrace interconnectedness and collaborative problem-solving, principles deeply rooted in South African traditions, to address complex business and societal challenges.

Our growth and strategies are shaped by our understanding of the five global megatrends: climate change, technology disruption, demographic shifts, a fracturing world and social instability. At PwC, we're actively working to address these megatrends. From our commitment to net zero goals and embracing technological innovation to our efforts in fostering social stability and equity, we're leveraging our expertise to help our clients navigate these challenges and seize the opportunities they present.

Our values—act with integrity, make a difference, care, work together and reimagine the possible—are the foundation of our culture. These values make up who we are and guide our actions, ensuring consistency in how we serve clients, collaborate with colleagues and engage with communities. They ensure that whether we're in South Africa or anywhere else in our larger region, we're working towards the same goals with the same high standards of ethics and quality.

To us, diversity and inclusion aren't just ideals—they're a reality. As successor to Dion Shango, who is now PwC's Africa Territory Senior Partner, I have been leading the South African firm as its first women CEO since 2019—a testament to our commitment to transformation at the highest level. With 59% women representation in our workforce and 32% women ownership, we're setting a powerful example of what an inclusive, equitable workplace can achieve. But our commitment to diversity goes beyond gender. We strive to create an environment where people of all backgrounds feel valued and empowered to reach their full potential. We believe that diverse teams lead to better decision-making and more innovative solutions, ultimately benefiting our clients and our firm. Since 1994, aligned with our purpose of building trust in society and solving important problems, we have had thousands of chartered accountants qualify through PwC. These diverse professionals are making significant contributions to both the South African and global economies.

Our history is evidence of our ability to adapt and innovate. We've consistently evolved to meet the changing needs of our clients and our country. This adaptability has seen us through economic upheavals, technological revolutions and societal changes. We've not just survived these changes; we've thrived by embracing them as opportunities for growth and innovation. Our legacy is one of continuous learning and improvement, always striving to stay ahead of the curve and deliver value in new and meaningful ways.

As we reflect on PwC's history in South Africa, we're reminded of the remarkable journey our firm has undertaken alongside our nation. From our humble beginnings in Johannesburg over a century ago to our position today as a leader in professional services, our story is interwoven with South Africa's own narrative of growth and transformation.

This timeline is more than just a series of dates and events. It's a record of the resilience, adaptability and innovative spirit that have defined both PwC and South Africa. As we celebrate Heritage Day, we honour our past with pride and look forward to an even brighter future. The lessons learned and the relationships forged over the decades continue to guide us as we face new challenges and opportunities in an ever-changing world.

PwC's legacy in South Africa is not just about our success, but about the value we've created, the businesses we've helped grow and the communities we've supported. Yet, we are only half the story. As we look to the future, we remain committed to playing our part in building a stronger, more prosperous South Africa for all.

This African philosophy emphasises our interconnectedness and shared humanity. We encourage everyone to embrace this mindset in their lives and organisations. By recognising that our success is linked to the success of others, we can work together more effectively to tackle societal challenges. Whether it's addressing climate change, reducing inequality or fostering innovation, the principles of Ubuntu remind us that our greatest achievements come through collaboration and mutual support. As we face the challenges of tomorrow, this spirit of Ubuntu will be crucial in creating a more sustainable, equitable future for our communities, our continent and generations to come.