Unique merger entrenches nexia SAB&T among top ten
THE merger of Nexia SAB&T and Indyebo in March has entrenched the company’s position among South Africa’s top ten audit firms and as one of the premier black owned firms, says CEO Bashier Adam.
The business continues to trade under the Nexia SAB&T brand, to emphasise its ties to the 10th largest international network in the sector, Nexia International.
Adam, who founded Nexia SAB&T, says it has since 1994 striven to be reflective of South Africa’s demographics, “We provide equal opportunities to all and the firm continues to make significant strides in reaching its empowerment and gender transformation goals through a vision expressed as ‘to be closer to you’.
“Indyebo, was a progressive black female owned firm offering assurance, advisory and consulting services with an outstanding reputation for quality, excellence and integrity.”
The merger, he elaborates, came about as a natural development of several joint projects, “We have long worked with Indyebo, headed by Ndumi Medupe, as an enterprise development partner and shared a mutually beneficial relationship over the years.
“Our merged company is now a truly multi-disciplinary professional service provider, with a wide range of services and accreditations in the audit, accounting and consulting fields.
“These include JSE accreditation for the conduct of audits of listed entities, a national footprint with offices in each of South Africa’s nine provinces and experience in the private and public sector at all levels.”
He explained the new direction: “It is in line with a vision to entrench ourselves as a top black empowerment professional services firm in South Africa. With the addition of Indyebo, and particularly Ndumi Medupe, we are well on the way to achieving this.”
In April Ndumi Medupe was unanimously elected on the executive committee as Chairperson. Adam adds, “From this position she will be able to continue to drive her empowerment vision, as well as execute on the firm’s strategic plans regarding expansion and continued growth of our client portfolio.”
She says Indyebo had experienced highs and lows since its inception in 2007. “With the enhanced capacity brought about through the merger we are ready for bigger challenges. This includes exposure to JSE Listed Assurance Services and a national footprint.
“We will attract clients in new sectors and geographical locations to create a formidable professional services firm.
“I believe the market is ready for strong, empowered brands and this merger will solidify the firm’s position. These are truly exciting times.
“I’m proud that Nexia SAB&T has continued to qualify as a Level 1 B-BBEE contributor and particularly that we can boast a 95 percent black ownership and 47 percent black female ownership statistic.
“It is our goal to elevate black female ownership beyond 50 percent by December.”
Adam, was this month recognised for his efforts with respect to gender transformation through the Standard Bank Top Women Award for Top Male Driving Gender Transformation in South Africa.
Asked what sets Nexia SAB&T apart from the other black accounting firms, he referenced membership with Nexia International.
“It is a top 10 global accounting network with a presence in 115 countries across more than 250 offices. Member firms share resources and knowledge to provide our clients’ with world-class partner-led professional services.”
He serves on the Nexia International Board and is Chairperson of the Europe Middle East and Africa Region, a position that enables him to drive its strategic direction, particularly as relates to opportunities across Africa.