The Sunday Mail
Livingstone Marufu
LOCAL accounting firm Matamba and Company Chartered Accountants has clinched a franchising deal with a South African company that specialises in audit, tax and forensics, Nolands Advisory. Zimbabwe becomes Nolands’ second investment destination after Mauritius. In South Africa, the business already has footprints in key cities such as Johannesburg, Cape Town, Bloemfontein, Durban, Lady Smith, Port Elizabeth and Pretoria. Nolands Advisory Services International chairman Mr Clive Noland confirmed the company’s forays onto the local market recently.
“We can share with you that this has been in the planning stage for quite some time,” said Mr Noland in a statement.
“Gearing up for business in Africa is a decision that requires 100 percent commitment and focus. Setting up in Zimbabwe is a long-term investment in the growth of the Nolands brand and this is the way we are approaching it. Africa has six of the top 10 fastest growing economies in the world, so it was not a question of “if” but rather when we were going to make our move. . .
“Going into literally new territory for us, it was crucial that we identified and attracted the very best partner we could find and we are confident we have agreed terms with Zimbabwe’s best,” said Mr Noland.
Local companies are increasingly enlisting the support of international brands in order to position themselves on both the local and regional markets.
Although franchising agreements are on the rise, mergers and outright acquisitions of local businesses are also on the increase.
The Competition and Tariff Commission (CTC) has approved 13 mergers in the first half of the year.
Founding Partner in Matamba and Company Mr Bernard Matamba said the franchising agreement with Nolands provides a great opportunity for the firm to upgrade its services to international best practice and also launch into the regional markets.
“For us and all our clients, becoming part of Nolands is a great opportunity to improve standards, systems and properly prepare for the economic good times that lie ahead for Zimbabwe and Africa as a whole,” explained Mr Matamba.
He added that being chosen by Nolands International as a stepping stone into Sub-Sahara Africa showed confidence in Zimbabwe as an investment destination.
It is believed that the alliance with Nolands will help the local firm with the financial wherewithal to compete with established international companies.
Added Mr Matamba: “As a part of Nolands, we also have a membership to the Geneva Group International (GGI), the sixth largest independent network of professional firms in the world. For any of our clients with the international advice and business, this is an invaluable connection to have.”
