8 March 2014

Ethiopia: BDO Enters Ethiopia

The world's fifth largest auditing and accounting firm, BDO, opens its office in Addis Ababa in partnership with a local consultant firm by the name of Next Consult P.L.C., established in 2005.

The firm mainly engages in the areas of agriculture and fishery, banking and financial and governments and international financial institutions (donors.)

Sandeep Khapre CEO of BDO for East Africa told The Reporter that the company's priority in Ethiopia was to bring in more investors and bring equity into the market in various fields of investments that the company engages in.

For the realization of this project, our partnership with Next Consult will help us a lot since the company is well established in Ethiopia Khapre. Furthermore, our partnership will help the country because we will share our expertise while Next will deal with the local stuff He also further explained that the two will work together to help the larges markets. We know that foreign banking is not allowed but we are aiming at strengthening the local banks so that they can be competitive in the coming years and be efficient if foreign banks are to enter the country, Khapre said.

BDO International's headquarters is located in Belgium, Brussels and the company has 44,000 professional workers across the globe, it is also functioning in 110 countries through its 1000 offices. The company has registered revenue of 6.5 billion dollars.

This makes BDO International the fifth major international consultancy firm to open offices in Ethiopia after Ernst & Young, Deloitte, Grant Thornton and McKinsey and Co. The company has already established offices in some African countries including Kenya, Tanzania, Uganda, Madagascar, Seychelles and Mauritius.

As of 2013, BDO has Member Firms in 138 countries, employed 55,000 workers in 1,204 offices throughout the world.

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