In an ambitious move to develop and increase its foothold across Africa’s rapidly growing business market, RSM International (“RSM”), the sixth-largest global network of independent audit, tax and advisory firms in the world, has announced the appointment of Stransact, a fully independent Nigerian firm of chartered Accountants, as its new correspondent firm in Lagos, Nigeria.
The strategic expansion and alliance means RSM international would have a country presence and office in Lagos, Nigeria. RSM, a network created from legacy firms that have been in business for over 90 years is the leading advisor to middle market leaders globally.The network covers 107 countries and has a combined total of 35,396 employees in 700 offices.
It is instructive to note that Stransact is a correspondent firm of the RSM network but does not trade as RSM. Each correspondent firm of the RSM network is an independent accounting and consulting firm, each of which practices in its own right. The RSM network is administered by RSM International Limited, a company registered in England and Wales.
Jean Stephens, CEO of RSM International, said: “We are delighted that these leading African firms have chosen to join the RSM network. Business in Africa is developing rapidly and as demand for professional services in the region continues to grow, it is imperative that we ensure RSM is represented by very high quality local businesses.”
In the words of Eben Joels, Principal, Stransact, ‘‘RSM’s decision to appoint Stransact as a correspondent firm is based on the confidence the leadership of RSM has in our ability to connect with clients, colleagues and communities, a core tenet of RSM’s commitment to deliver the power of being understood.’’
According to a Senior Partner at Stransact, Yomi Salawu, ‘‘the firm’s appointment is evidence of RSM’s commitment to growth in Africa. It is an investment in the future of youths in the largest economy in Africa. This is a message of hope during this difficult period,” he enthused.
With a strong and growing presence in Africa, the network has member firms in Botswana, Kenya, Zambia, Mauritania, South Africa and Tanzania. However, the network typically has a correspondent firm where it does not have a full member firm such as Nigeria and Ghana.
Expressing great joy and a deep-rooted sense of satisfaction on the strategic alliance with Stransact in Nigeria, Regional Leader Africa Operations, RSM, Mr Clive Betty, said, ‘‘We have strong vision to be the strategic partner for growing businesses throughout Africa but especially in West Africa. RSM’s five core values of integrity, respect, teamwork, excellence and stewardship are the bedrock of the firm and its culture. These values have endured throughout the over 90-year history of RSM.’’
Stransact, operating as Stransact Audit and Stransact Partners, has been providing high level professional services in Nigeria since 2009. The firm has stated that this development aligns “snugly with the firm’s vision of being among the leading firms in Nigeria in the near future.” It increases the firm’s ability and quality and gives the firm access to the people and resources of RSM international. RSM International operates in 120 countries and are in each of the top 40 major business centres throughout the world. The network has a combined staff of over 48,000 and has 820 offices across the Americas, Europe, MENA, Africa and Asia Pacific.