NEW YORK, June 3, 2024 /PRNewswire/ — Gartner^®, a company that delivers actionable, objective insights to executives and their teams, has recognized Deloitte as a Leader in the 2024 Gartner^® Magic Quadrant^™ for Finance & Accounting Business Process Outsourcing (BPO).

It is one of 10 total Leaders in the report, which provides a graphical competitive positioning of four types of technology providers in markets where growth is high and provider differentiation is distinct.

“Through Finance Operate services Deloitte clients are reshaping their finance functions, rethinking traditional approaches to BPO and harnessing new disruptive technologies to embed continuous advantage into their operations,” says Doug Gish, Deloitte Global Operate leader. “We believe, this recognition demonstrates our commitment to delivering differentiated client outcomes and extensive experience transforming these business-critical functions.”

Notable Deloitte Finance Operate capabilities include:

• Finance-as-a-Service
• Finance Analytics-as-a-Service
• Finance Technology Application Management Services
• Strategic Finance Augmentation
• Operate-to-Transform Finance
• Build-Operate-Transform-Transfer

“I strongly believe in Deloitte’s disruptive vision in this space. We are doubling down on an integrated multidisciplinary model, bringing an extensive portfolio of services under our Finance Operate umbrella. With deep industry expertise, strong finance executive relationships, and broad finance domain experience, we offer truly differentiated solutions to solving client challenges,” says Sergi Lemus, Global Finance Operate co-leader, Deloitte Spain.

Deloitte remains committed to transforming its proprietary solutions and co-innovate with its strategic relationship releases of digital financial and accounting services across core workflows with the incorporation of emerging technologies. “We continue to invest in transformation and innovation like Generative AI to augment our capabilities and deliver enhanced finance and accounting outcomes for Deloitte clients. We are confident in Deloitte’s leadership in this space and we believe this Gartner recognition reinforces this,” says Caroline Leies, Global Finance Operate co-leader, Deloitte Consulting LLP.

Gartner Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

About Deloitte 
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (DTTL), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.

Deloitte provides industry-leading audit and assurance, tax and legal, consulting, financial advisory, and risk advisory services to nearly 90% of the Fortune Global 500^® and thousands of private companies. Our people deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society, and a sustainable world. Building on its 175-plus year history, Deloitte spans more than 150 countries and territories. Learn how Deloitte’s approximately 457,000 people worldwide make an impact that matters at www.deloitte.com.

For more about Deloitte Analyst Relations, please visit our Analyst Recognitions page.

SOURCE Deloitte Global

Absa Group, one of Africa’s largest diversified financial services companies, aims to build stronger ties with Chinese firms as part of its global expansion strategy, amid growing investment and trade between China and Africa.

The Johannesburg, South Africa-based bank will focus on strengthening relations with state-owned entities, private companies, banks and development finance organisations via its subsidiary, which officially launched in Beijing in early May, according to Klaus-Dieter Kaempfer, CEO of Absa China.

“Absa’s strategy in China is to use our office to connect better with the head offices of Chinese corporates who do business in Africa,” he said.

With a healthy client base already in place, Absa will make its presence known and develop much closer relationships with prospective clients on the mainland, he added.

Absa’s Beijing office operates under a wholly foreign-owned enterprise licence, which allows it to provide general advisory services and research to clients based in China for transactions across Africa.

“To be clear, we are not conducting business in China, and we’re not doing domestic business,” said Kaempfer. “What we’re doing is developing relationships, advising on the capability that Absa Group has across its footprint in Africa, and our business actually gets executed there.”

The plan to open a China office was revealed by Zhu Kai, principal and head of China Corridor at Absa Corporate and Investment Bank, in May last year. The opening of the office was originally planned at the end of 2023, but the licence was only obtained in December, following which a team was hired, delaying the launch to last month.

China’s total trade with Africa increased 1.5 per cent year on year in 2023 to US$282.1 billion, while the continent’s trade deficit with the world’s second-largest economy expanded 36.4 per cent to US$65 billion, according to Chinese customs data published in February.

China’s total investments in Africa hit nearly US$11 billion in 2023, its highest since at least 2005, according to data from Washington-based think tank American Enterprise Institute.

“I think what makes Absa an attractive banking and financial services partner is the quality and the depth of our network – our core operations are in Africa, and we’ve been there for more than 100 years,” said Kaempfer.

The bank has a strong presence across a number of sectors, he added.

“We’re the leading provider of renewable-energy finance across the continent, and we have very competent teams in mining, minerals, trade finance and debt.”

Knowing how to budget and save money are important skills, but not everyone is taught how to do so. Only 25 states require high schoolers to take a personal finance class, and schools with predominantly Black and brown students are less likely to offer those courses. Laura Barrón-López reports on how younger generations are working to improve their financial literacy and help close the wealth gap.