The growing spending in security and risk management also showed that it has become a boardroom priority locally. CISOs in MENA are seeking to improve their communication with the board of directors who have more visibility on security, threats and vulnerabilities than ever. “Simply put, executives are beginning to realize the true business impact of cybersecurity,” said Mr. Olyaei. “It is no longer a matter of if, but when and executives are demanding that their leaders continue to facilitate business outcomes”
The Accenture Middle East Innovation Maturity Index report, which surveyed 200 C-suite executives in the UAE and Saudi Arabia and covers 275 Middle East companies, has found that Middle Eastern businesses risk losing $578bn in trapped” value, described by Accenture as the potential value that companies could realize if they adopted technology and innovation.
Described as an innovative tool to empower organizations in improving their approach to risk, professional services firm PwC Middle East has launched Digital Trust Manager – a cost-effective, self-service online platform whereby businesses can assess their maturity profile against a range of primary and evolving risk areas, including data privacy, business continuity management, cloud, and corporate governance.
Corroborating him, Head of Tax, South Africa, Dermot Gaffney, added that the solution is a service where KPMG facilitates the in -house tax function of its clients to re-invent the clients’ tax functions to enable organizations focus on their key issues and risks so that their (KPMG clients) tax strategy aligns with the overall business and finance strategy.
PwC Qatar renewed its partnership with Kawader for the second year, an exclusive experiential learning program designed for Qatari business leaders and decision makers within Qatar’s financial services industry, to provide high potential local talent with on-the-job experience and the opportunity to work on high-profile clients and projects across the country.
At the Women in Leadership Forum (WIL), PwC Middle East Senior Partner Hani Ashkar, together with some of the world's leading companies, launched the Middle East Action for Diversity Council— a public commitment made by leading organizations in the private sector to promote the values of diversity and inclusion within their businesses in the Middle East.
According to data by an analyst firm, the GCC management consulting market is worth some $3 billion in fees, up from $2 billion six years ago. The region’s two largest markets, Saudi Arabia (which accounts for half of all GCC consulting spend) and the United Arab Emirates (UAE), have both been growing faster than the global consulting market for six consecutive years now. Massive public sector reform projects, risk and regulatory work and digital transformation are the main drivers of growth.
Accenture will be offering access to its facilities around the country to scale the project to other major centres, including Johannesburg, Pretoria, the Free State and the North West. Enrolled students will also be signed up and given access to the platform remotely. This would enable them to complete the first module from anywhere in the country before progressing to the practical phase where they would need to physically attend classes.
In response to the growing number of businesses operating between Turkey and Qatar, KPMG in Qatar recently launched its ‘Turkish desk’ to provide tailored services to clients from both countries. Last week, they held their first major event in Istanbul.
With the continuous regulatory developments in the Kingdom of Bahrain and beyond, KPMG in Bahrain recently hosted a seminar session to educate businesses and business owners on the latest regulatory obligations.
Pragma, one of South African’s leading physical asset management engineering firms, acquired Netherlands-based consultancy, CMS Asset Management, on 1 October 2019. CMS specializes in engineering advisory services related to maintenance and asset management.
Accenture has continued its rampant buy-and-build campaign in the digital innovation landscape with the acquisition of Happen. Around 50 consultants, designers and digital experts join Accenture in London, Amsterdam and New Jersey.
Consulting firm and auditor KPMG has won the role of advising the government of Ethiopia on the privatization of state-controlled monopoly operator Ethio Telecom.
The minister of finance, Eyob Tekalign Tolina, told the Reuters news agency that Ethio Telecom has appointed KPMG to advise it on the sale of stakes in the company. He previously said that the need for telecoms infrastructure investment in the country is “huge”.
Moonen Packaging is currently building a completely new 20,000m2 warehouse in the Dutch town of Weert. The packaging wholesaler asked Groenewout for advice on the warehouse design, which has resulted in a flexible, efficient and sustainable plan for a warehouse with sufficient growth potential. Roland van Bussel, Moonen COO: “We initially considered a fully automated warehouse, but Groenewout advised us against it.”
Qatar General Insurance & Reinsurance Co. Q.P.S.C (“QGIRCO”) signed an agreement with Roland Berger, a leading global consultancy firm, with the aim of utilizing their expertise in enhancing the Company’s strategy and operations. Roland Berger will assist in identifying changes and opportunities that will lead to long-term sustainable growth and a strong market position in the insurance industry, and review several key operational aspects including key policies, technological advancements, and HR operations.
Footwear retailer Clarks has appointed management consultants McKinsey & Co to conduct a review of the business after challenging years in the UK market. Clarks saw UK and ROI sales fall by £37.6m to £561.1m for the year ending 2 February 2019, while tough trading conditions led a loss after tax of £82.9m for the year, more than double its loss from 2018 of £31.3m.
INFOMINEO RESOURCES
A highlight of some of our resources to expand your knowledge on Africa and the Middle East.
This benchmark examines and compares how strategy consulting firms are organizing their knowledge and research functions internally and where they’ve chosen to locate them globally.
In the last two decades, China has become the most important economic interlocutor of the African continent, through a number of both public and private initiatives across trade, investments, financing and cooperation. To have an idea of the scale of the Chinese wave, we can have a look at the most recent figures.
INFOMINEO
Infomineo is a data and research service provider, that specializes in Africa and the Middle East, dedicated to supporting global companies in getting access to information that powers their investment decisions in the region. Through a direct presence in key markets such as the UAE, South Africa, Kenya, Egypt and Morocco, Infomineo provides a quick access to market data on key questions such as: market and product prioritization, partner identification, commercial due diligence, route to market, supply chain mapping and competitive analysis among others. Along with conductingCustom Research for clients, Infomineo also delivers an Expert Network service and a Business Translation service.
INFOMINEO, Value added business research, Casablanca, Morocco