AXCENTIUM Zimbabwe, formerly Deloitte Zimbabwe, has vowed to stay ahead of the curve, embracing agility and adaptability as it navigates the ever-changing demands of the modern world.
In February 2024, Deloitte Zimbabwe exited Deloitte Africa, a network of professional services firms across the continent.
Deloitte Africa operates under Deloitte (Deloitte Touche Tohmatsu Limited), one of the four leading professional services firms globally, alongside British firms Ernst & Young, PricewaterhouseCoopers International Limited, and Klynveld Peat Marwick Goerdeler.
However, owing to decades of growing macroeconomic challenges, including exchange rate volatility, high taxation, and policy inconsistencies, both Deloitte and PwC exited the Zimbabwean market last year.
Following Deloitte’s exit, senior partners at Deloitte Zimbabwe bought out the firm and rebranded to Axcentium, a process that was completed in January.
“While we speak of change, we couple it with a promise to all our valued stakeholders — it shall be a change that is still rooted in the core values that have always defined us,” Axcentium managing partner Charity Mtwazi told businessdigest.
“We commit to being agile and embracing the ever changing needs of the dynamic business landscape we operate in. There are economies of scale, synergies, and risk management processes from which efficiencies are derived in that setup. The scalability in Zimbabwe, however, was not there, and we truly felt we were leaving a lot on the table for those who could benefit from our experience and expertise,” Mtwazi said.
She added that Axcentium’s desire to serve the Zimbabwean market in its entirety was what brought about the rebrand.
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“Axcentium is committed to retaining its clientele, ensuring that no detrimental impacts arise from its transformation following the integration with Deloitte,” she said.
“The organisation’s focus on maintaining strong relationships and delivering exceptional service will remain paramount, reinforcing client trust and loyalty throughout this transition.
“Axcentium’s proactive approach will mitigate any concerns, demonstrating that the changes will enhance value and support for their clients rather than hinder it.”
One of the major concerns for professional services firms has been accounting inconsistencies arising from exchange rate volatility.
While the functional and reporting currency has been the local unit, the economy has essentially dollarised.
Furthermore, with companies entering corporate rescue or closing down, professional services firms could find it hard to retain clientele.
