Latest news with #PwCBusinessServices
Yahoo
2 days ago
- Business
- Yahoo
OCP acquires PwC Business Services in Morocco
Moroccan phosphate company OCP has acquired PwC Business Services, a unit of PwC Advisory Morocco, in a deal that solidifies their established partnership. Financial details of the deal were not divulged. Walaw has reported that the acquisition enables OCP to bring in-house essential administrative and financial operations previously handled by the subsidiary. PwC Business Services was set up to deliver tailored, non-regulated support to OCP, covering areas such as IT, accounting, and operational tasks, which have been vital for streamlining OCP's routine processes. The unit has exclusively served OCP since its formation, functioning as a dedicated support entity. OCP, which holds more than 70% of global phosphate rock reserves, mainly in Morocco, is a major player in phosphate and fertiliser production. In recent years, the company has focused on advancements in technology, sustainability, and agricultural development. This acquisition supports OCP's aim to improve efficiency, cut costs, and oversee its internal operations more closely. For PwC Advisory Morocco, part of the global PwC network, the sale provides an opportunity to concentrate on its primary advisory services. With the subsidiary now under OCP's control, PwC Advisory plans to expand its client reach in Morocco and across North Africa. This transaction highlights OCP's focus on reinforcing its role in the global phosphate sector while allowing PwC Advisory to grow its consulting activities in the region. In June 2025, The Wall Street Journal reported that PwC is restructuring its US advisory division, expanding from four to eight segments to better tailor services to specific industries. PwC will embed managed services into each of its eight revamped US advisory segments, moving away from maintaining them as a separate entity. "OCP acquires PwC Business Services in Morocco" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Morocco World
5 days ago
- Business
- Morocco World
OCP Acquires Support Subsidiary from PwC Advisory Morocco
Rabat – PwC Advisory Morocco has announced the sale of its subsidiary, PwC Business Services, to Moroccan phosphate giant OCP SA. The move marks a strategic shift for both companies and formalizes the long-standing collaboration between them. PwC Business Services was established to provide non-regulated administrative and financial services exclusively to OCP SA. Its work includes internal support functions such as IT services, accounting, and operational assistance that helped the phosphate group run its day-to-day business more efficiently. Since its creation, the company has worked solely for OCP, as it functioned as a dedicated support arm for the group's internal operations, PWC said in a press release. PwC Advisory Morocco, part of the global PwC network, offers a range of consulting and advisory services to clients in Morocco and the wider North African region. The buyer, OCP, is a global leader in the phosphate and fertilizer industry. The company has undergone a major transformation in recent years, with heavy investments in technology, sustainability, and expansion across Africa. The group controls over 70% of the world's known phosphate rock reserves, located mainly in Morocco. OCP invests in agricultural research, soil science, and digital farming tools to help farmers, especially in Africa, use fertilizers more efficiently and sustainably. Taking over PwC Business Services allows OCP to internalize operations that were already entirely dedicated to its needs. The acquisition is expected to help OCP increase efficiency, cut costs, and improve control over key support services. For PwC Advisory, the sale could offer an opportunity to streamline its activities and concentrate on its advisory mission. Now that the support subsidiary is fully integrated into OCP, PwC Advisory can expand its services to a broader client base in Morocco and elsewhere. Tags: OCP MoroccoPWC advisory
