KPMG MESA records sixth consecutive year of double-digit growth

24 December 2019 3 min. read
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KPMG MESA has notched another year of double-digit growth across the region, growing its revenues in 2019 by 11.6 percent.

Following the release of its annual global financial statement earlier this month, which showed relatively weak growth of 6.2 percent (relative to both 2018 figures and the $3 billion increase recorded by Big Four rival Deloitte) KPMG’s Middle East & South Asia branch (KPMG MESA) has revealed its own figures for the 2019 financial year; with the local firms notching another year of double-digit growth.

Collectively, KPMG MESA – which includes members in 14 countries spanning the Middle East and South Asia – grew its revenues by 11.6 percent in local currency terms for the year ending September, its sixth consecutive year of double-digit growth. The figures, however, also represent a regional slow-down, with the firm having achieved a massive 17.2 percent gain over the previous financial period.

Still, the consistent local returns place KPMG MESA among the fastest growing sub-regions in the KPMG network, further highlighted by huge boost to its regional headcount with more than 2,200 new hires over the past year. Altogether, KPMG MESA now boasts a regional workforce of over 8,000 professionals and associates, of some 220,000 people employed at the professional services firm worldwide.

KPMG MESA records sixth consecutive year of double-digit growth

Speaking on the results and future outlook, KPMG MESA’s Sri Lankan Chairman Reyaz Mihular stated; “I am particularly excited with our initiatives that aim to drive greater engagement with millennials who now constitute over half of the region’s talent pool, and with the innovative new office spaces being established across the region to completely redefine our people and client experience”.

He continued; “As we strive to create sustainable value for clients, we are embracing change and collaborating as a region. This emphasis is reflected in the latest propositions that we intend to bring to the market and also in milestone projects being delivered regionally. A strong emphasis is placed on the pillars of trust and quality which we foresee as pivotal, and also in embedding technology into all core functions.”

Globally, KPMG at the start of the month announced an intended $5 billion investment over the next five years to help accelerate the digital transformation of professional services, with the investment prioritised in the three key areas of technology, people and innovation – aimed at strengthening client relationships and “capitalising on growth opportunities in a time of transformative change.”

In a press release, KPMG MESA noted the transformation which continues to remain a priority for governments in the MESA region striving for economic diversification,  with the firm in particular witnessing technological innovation in areas such as AI, augmented reality, autonomous vehicles and drones, data analytics, cloud computing and blockchain – which are “reshaping business models across industries”