By Benadetta Chiwanda Mia:
Audit and tax advisory firm Grant Thornton Malawi has opened an office in Maputo, Mozambique, marking its first expansion across borders.
Partner and executive director of the firm, Hastings Bofomo Nyirenda, said the expansion will contribute to the growth of the firm and bring additional foreign exchange to Malawi.
He added that the firm was granted a territorial expansion licence in May this year to operate in Mozambique and that all necessary processes required for opening an office were completed.
“We all know that Mozambique is a much larger economy than we are, so we believe that our presence there will mean a great deal for the firm and indeed for the country, considering that it will become a source of forex from exporting accounting services.
On August 1 2024, we were granted a licence to commence activities and we begun operations.
“The Mozambique office is wholly accountable to Grant Thornton in Malawi and is essentially performing similar services as we do here, except that we are doing it in another territory,” Nyirenda said.
Grant Thornton Malawi is a member of Grant Thornton International, which operates in 142 countries.
Commenting on the development, Institute of Chartered Accountants Chief Executive Officer Noel Zigowa said the expansion is a positive step.
“We have had discussions on mutual recognition agreements which facilitate the movement of professionals from one country to another. So, this is a positive direction because services can now be extended to other regions,” Zigowa said.
He added that this will also benefit the accounting profession as there will be knowledge transfer through learning from other countries providing similar services.
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