- Deal accelerates both firms’ transformation and growth
- Newly merged firm will have around 400 staff and turnover in excess of R300 million
Renowned South African professional services firm Ngubane Johannesburg is to merge with RSM South Africa, a Member Firm of the leading provider of assurance, tax and consulting services to middle market businesses globally.
The combined business will be called RSM South Africa. With annual billings in excess of R300 million and around 400 staff, the merger will accelerate both businesses’ ambitions to drive growth through technology and deep sector specialisms. It will have offices in Cape Town and Johannesburg.
After 13 years of trading exclusively in South Africa Ngubane Johannesburg will, as part of the RSM network, be able to expand its accounting services to clients either already trading internationally, or those keen to do so. It will also be able to access RSM’s wider range of services including risk advisory, legal, cyber security, business transformation and corporate services. For Ngubane Johannesburg’s domestic client base, the merger will open up RSM International’s global network and broad service offering.
The move continues RSM South Africa’s strategic transformation and growth. RSM International increased its annual revenues on the African continent by 14% last year. The merger deepens RSM’s expertise in the South African public sector as well as in transport & logistics, mining & resources, manufacturing and education, with Ngubane Johannesburg’s market-leading experience in those sectors.
Ngubane’s existing CEO Designate, Noma Ashom, is to become the new CEO of RSM South Africa. Current RSM South Africa CEO, Dieter Schulze, will take on the role of Regional CEO of the combined firm’s Cape Town team and will remain Head of Tax.
Noma Ashom, new CEO of RSM South Africa, said: “This merger creates a genuine point of difference in the South African marketplace. It brings together our deep understanding of the South African trading environment with access to international markets and a range of specialist services that RSM is so well known for. It will act as a catalyst for us to act at pace and scale, bringing technology, data and analytics to our clients in new ways. Crucially, the strong cultural fit means we will be able to continue putting people first, harnessing the power of diverse thinking to produce better outcomes for clients.”
The combined business, RSM South Africa, will be dedicated to diversity and social equity at all levels. With a shared culture for putting people first and embracing different thinking, the new business aims to grow at pace by harnessing its diversity alongside a push for technology-driven solutions.
Dieter Schulze, Regional CEO of RSM South Africa, added: “This merger is highly complementary for both businesses – we have a shared cultural outlook that aims to put our people first at all times. We are not afraid of different perspectives and always encourage people to challenge convention. Separately, we were two very successful businesses; together, we will be able to achieve our ambitions, and those of our people and clients, with even greater purpose and pace.”