Accuracy enters North African market with office in Casablanca

14 February 2018 5 min. read
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In anticipation of a spike in the demand for consultancy services in Francophone Africa, global consultancy Accuracy has opened a new office in Casablanca, Morocco. The new hub marks the firm's 15th office across the globe, including the most recent additions in Singapore and Dubai.

Accuracy is a Paris-based consulting firm founded in 2004 by a group of consultants previously employed by Arthur Andersen (a former Big Five accounting firm and by and large the legal predecessor of Accenture). Since then, the partner-owned firm has grown into an international firm, operating across 13 hubs with 310 employees and generating revenues of around $70 million annually.

Service areas that are provided by the consultancy include transaction support and advisory; forensics, litigation and arbitration; valuation and fairness opinion; corporate recovery services, and; economics and business analysis.

Over the last decade, Accuracy has become increasingly focused on building an international presence. The firm’s first foray outside of Europe came in Canada in 2011, followed by an entry into the Asian market with a locale in India in 2012. Last year, the firm established two new operations, one in Singapore and another in Dubai, strategically covering two major markets.

One prominent trend among the global consulting industry has been an increased focus on Francophone Africa, particularly Morocco. Major consultancy firms such as McKinsey & Company as well as Bain & Company have offices in the city of Casblanca, which serves as an economic hub for the region.

Accuracy enters North African market with office in Casablanca

In 2010, the Boston Consulting Group also opened an office in the city, recently bolstering its operations with the appointment of Hamid Maher as Managing Director. Last year, Mercer also got in on the act, opening its consulting hub for Francophone Africa in Casablanca.

The firms active in the country have been rewarded with substantial business, particularly from the public sector. Two different government departments recently invited bids from consulting firms for two separate projects; one involving the establishment of a national population register, and the other involving operational optimisation of the Ministry of Economy and Finance. Big Four professional services firm PwC incidentally won both contracts.

Based in Casablanca Finance City

Now, Accuracy has decided to heed the indications that Morocco, particularly Casablanca, is a lucrative market for investment. The firm has announced the establishment of an office in 'Casablanca Finance City', a business district in Casablanca, led by Partner Taoufik Lachheb and Manager Aomar Elalamy.

Laccheb previously worked for Navigant, and has been involved in the management of major construction projects, spanning the industries of mining, nuclear energy, and shipbuilding. He has been with Accuracy since 2013, and currently occupies the role of Partner.

Elamamy, who will also co-lead the Casablanca outfit, is a graduate in Mathematics from the Ecole Centrale Paris, and was formerly a Quantitative Analyst at AXA Real Estate. Elamamy joined Accuracy as Financial Analyst in 2014, ascending through the position of Associate to his current role as Manager.

Commenting on the new presence, Lachheb said that the firm already has an established track record in the country, having worked in Morocco and various other African countries in the area of construction and infrastructure projects.

With the support of the Paris team, Lachheb and Elamamy will be able to assist players operating in the region "across all sectors, in transactional, dispute and decision-making situations, which require a deep understanding of the strategic issues, a complete in-depth analysis and an estimation of financial impacts."

Accuracy's CEO, Frédéric Duponchel, added "A permanent office in Casablanca will enable us to consolidate our relationships with Moroccan groups, serve our clients more easily and deal with even more engagements in both North Africa and Sub-Saharan Africa alike, thanks to Morocco’s role as the veritable hub of francophone Africa.”

"The move allows us to continue our international development both ambitiously and serenely," he remarked.