PricewaterhouseCoopers (PwC) has ceased operations in over a dozen countries deemed too small, risky, or unprofitable, aiming to shield itself from further scandals, according to a Financial Times report.

The Big Four accounting firm, grappling with reputational damage, severed ties with member firms in nine Sub-Saharan Francophone African nations—including Ivory Coast, Gabon, Cameroon, Madagascar, Senegal, Democratic Republic of Congo, Congo Republic, Guinea, and Equatorial Guinea—following a strategic review last month. Additional exits include Zimbabwe, Malawi, and Fiji, driven by tensions with local partners.

PwC’s decision follows significant setbacks: a $62 million fine and six-month audit suspension in China for lapses tied to Evergrande’s $78 billion fraud, a £4.5 million ($5.96 million) penalty in Britain for Wyelands Bank audit failures, and strained relations with Saudi Arabia’s $925 billion sovereign wealth fund.

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Local leaders reported losing over a third of their business due to global executives’ pressure to drop risky clients, prompting client exodus and layoffs since 2024.

The firm’s retreat reflects a broader strategy to prioritize compliance and stability, though critics argue it disproportionately affects emerging markets while scandals often originate elsewhere.

PwC’s global chair, Mohamed Kande, navigates these challenges amid calls for stricter oversight. The company insists it maintains a strong African presence with client service continuity plans, but the exits signal a cautious pivot as PwC seeks to restore trust and avoid legal entanglements in a volatile global landscape.

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