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Black Accounting and Auditing firm SAB&T forges closer links with international consulting group Nexia

Leading black-owned accounting, auditing, consulting and professional services firm, SAB&T is changing its identity to Nexia SAB&T to reflect its long standing relationship with international accounting and consulting group, Nexia.

The brand change will take place with effect from 1 March 2012, and SAB&T’s  offices in SA will conduct business as Nexia SAB&T.

Nexia SAB&T is one of the country’s three principal black empowered accounting firms. It boasts an impressive client list of some 3 000-strong, ranging from micro-sized businesses to multinationals.

Its client portfolio includes organisations such as Woolworths, 1time Airlines, Oasis Group Holdings, Micro Mega Holdings, Guardrisk and Bank of Baroda, to name a few. It is also very active in the public sector where it acts for a number of public corporations and utilities including Rand Water, Land Bank of South Africa and National Lotteries Board.

Bashier Adam, who founded the company in 1994 primarily as an accounting practice, says the company has experienced good growth over the past few years and is now acknowledged as one of the top 10 accounting and auditing firms in the country.

“The SAB&T brand is well recognized in the SMME and the public and private sectors in this country, but in order to grow within the local and overseas markets we felt it was important to increase our profile and brand awareness by exploiting our long relationship with Nexia International.”

SAB&T already does business in the international markets, through its office in the United Kingdom. It is also beginning to gain some traction amongst the JSE listed companies.

Nexia International is a worldwide network of independent, accounting and consulting firms. It is an affiliation of 520 firms operating in more than 100 countries. The group has been in existence for 40 years and is now rated as the ninth-largest network of accounting firms in the world. Affiliates of the organisation have a combined annual turnover of US.5bn.

Adam sits on the board of the Nexia International’s EMEA region and is responsible for the development strategy of the Sub-Saharan Africa region of Nexia.

Says Adam,

“Our association with Nexia gives our brand immediate international recognition and facilitates access to international markets and a more aggressive growth strategy for the company. It allows Nexia SAB&T to re-invent itself as a premium services provider in the accounting and business consulting space, which will ultimately allow us to further attract and retain quality personnel and clients.

“SAB&T can finally shed the perception of being a small BEE firm and continue to move into the realm where large, national and multi-disciplinary professional services providers operate.”

Adam further believes the combination of the Nexia and SAB&T brands will  lead to stronger collaboration between the Nexia firms in South Africa.

The South African Nexia network boasts a combined staff of approximately 500, including nearly 40 directors/partners.

ISSUED BY: 
GRAY CORPORATE & INVESTOR RELATIONS
Graham Fiford
Tel: (011) 442 9019

ON BEHALF OF:
Nexia SAB&T
Bashier Adam
Tel: (012) 682 8789