Andersen Tax expands Africa presence with new member firm in Kenya

13 April 2018 Authored by Consultancy.africa

International professional services association Andersen Global has added yet another firm to its African operations, allowing it entry and access into the Kenyan consulting market. Nairobi-based consulting firm Nexus Business Advisory will now operate as an Andersen member firm. 

Andersen Global has been navigating a phase of expansion recently, particularly in Africa. The firm has a strong heritage in the world of tax and consulting, having evolved after the collapse of former Big Five accounting and advisory firm Arthur Andersen. The firm broke off as Andersen Tax in 2002, which was eventually incorporated into the Andersen Global international association of member firms, formed in 2013. 

Since its establishment, the fassociation has grown to operate in nearly 90 locations globally, employing more than 2,500 professionals. These locations stretch across North America and Europe primarily, in addition to lesser but nevertheless considerable presences in Latin America and the Middle East.

Up until earlier this year, the firm’s African presence was limited to two locations in Nigeria. However, the firm has recently demonstrated clear intentions to expand its operations on the continent by way of adding new member firms. In January this year, the firm collaborated with a Ugandan law firm by the name of Ligomarc, which will henceforth act as a member firm of the Andersen Global outfit and offer a foothold in Uganda and the surrounding regions.

Andersen Tax expands Africa presence with new member firm in Kenya

Now, the firm has further bolstered its operations in Eastern Africa, having signed an agreement with a Kenyan consulting firm by the name of Nexus Business Advisory. The boutique tax and financial advisory firm, which is based out of Nairobi, has been operational for more than 25 years.

Services offered by Nexus include support with mergers & acquisitions, due diligence, tax-advisory, investor support, structuring of employee compensation, litigation, tax audits, and even investigations. The firm is extensive in its operations, having conducted business in Kenya, Ethiopia, Rwanda, Burundi, Tanzania, and Uganda.

This extensive local infrastructure will combine well with Andersen’s international backing to serve the Kenyan market, which is currently in dire need of financial services. At a macro level, the country suffers from high levels of public debt, while at an individual level, recent studies have found that most people’s financial affairs are in dismal order, indicating a high-risk future if external help is not sought out.

Commenting on the move, Andersen Global CEO Mark VOrsarz said, “The launch of the Andersen name in East Africa is the next step in expanding and strengthening Andersen’s platform within this key market. The team in Kenya embodies the core values of our organisation including stewardship, seamless service and transparency. In addition, Philip is a member of the Andersen Global Advisory Council, where we partner to address the evolving needs of our global organisation, so I have a close working relationship and high level of trust with him.”

The new outfit will be led by Managing Partner Phillip Muema, who said of the development, “I appreciate the significance of working with like-minded partners around the globe, and our time with Andersen both as a collaborating firm and now as a member firm has demonstrated a shared commitment to providing best-in-class service. The launch of the Andersen name in Kenya heralds a new dawn for the tax practice in the Eastern and Central African market. We look forward to the continued collaboration with the dedicated professionals in the global organisation as we continue to grow and expand in Africa’s key markets.”

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