RSM grows African revenues by 17% to $39 million
RSM has enjoyed a bumper year in Africa, growing its revenues by 17% to $39.4 million during the 2024 financial year.
In the 12 months to December 2024, RSM achieved double-digit growth in Africa across all service lines. Regional fee income for tax services rose by 31%, while growing demand for consulting services lifted its consulting revenues by 17%.
Clive Betty, Regional Leader for Africa at RSM said: “This year’s results are a testament to the value we are bringing to a core part of the economy in Africa. Middle-market businesses have unique challenges and opportunities and we are extremely well placed to provide international and specialist support in that space. RSM is the ‘go-to’ firm for the middle-market in Africa and we are committed to maintaining that reputation.”
“Our regional results demonstrate the effectiveness of using technology and regional collaboration to service our clients and provide solutions to take advantage of opportunities and address the challenges in Africa.”
Cross-border collaboration was an important driver of growth, said Betty, highlighting the important role two hubs played in bringing members firms together. “Our transfer pricing hub in Eastern Africa has enabled member firms to deliver high-margin compliance services to meet clients’ expectations. The creation of a Regional Development Consulting Hub in Mozambique strengthened our consulting capabilities.”
Last week, RSM announced its global results, with fee income up 6% to around $10 billion. Fee income for Assurance grew 15% to $3.2 billion, while Tax revenues rose by 11% to $2.9 billion, marking a second year in succession of double-digit growth. Consulting revenue remained consistent with $3.9 billion, proving to be RSM’s strongest performing service line overall for a third year in a row.
Looking ahead at 2025, Betty said: “As we look forward, our focus remains on further building this solid foundation, meeting our clients’ expectations and aiming for greater growth through strategic initiatives and continuous innovation.”
