Kreston and Exco Africa welcomes ACDEN and AB Partners, Morocco to the network, expanding its offering in North Africa.
The firms will join Exco Afrique, the African network of Kreston member Exco France.
Both firms offer audit, tax advisory and consulting services from offices in Casablanca.
Senior Partner of AB Partners, Mr. Saad Belfakir said:
“Exco Africa is pursuing its ambition to expand and build an effective and strong network in Africa. We are proud to join Exco Africa and the Kreston network and are committed to building the presence of the Kreston brand both regionally and internationally and to work collaboratively to ensure mutual success”
Senior Partner of ACDEN, Mr. Mohamed Khalid Ben Otmane added:
“Exco Africa is a cohesive network that comprises numerous African countries between them employing more than 450 talented, dedicated and knowledgeable professionals.
The admittance of ACDEN gives our clients with business interests in North Africa additional support from talented, dedicated and quality counsellors who can help our clients, both individuals and organisations to thrive, helping to secure long-term business sustainability for future generations.”
Youssoupha Diallo, Chairman of Exco Africa commented:
“The admittance of AB Partners and ACDEN completes Kreston’s coverage in North Africa. We now have quality member firms in Morocco, Mauritania and Tunisia. Together, this grouping will be instrumental in building a strong dynamic and powerful brand”.
(Left to right standing are Exco President Pierre Vieillard and Mohamed Khalid Ben Otmane and left to right seated is Saad Belfakir and Exco Africa CEO, Youssoupha Diallo).
- Published in News
In the UK, they’re known as Generation Y, in Germany Generation Maybe, and China has labelled them as the generation that eats the old. Millennials, people born between 1980 and the mid-1990s, have many names, and few of them are complimentary. They’re often described as lazy, entitled and narcissistic, but is this really the case? That was certainly not my experience of the Kreston members who attended our recent Future Leaders Conference in Berlin. What I found was a group of people who were dynamic, collaborative, and passionate. They were full of ideas on how to push the business forward and find new ways to help our clients. It inspired me and highlighted the importance of understanding this generation. In fact, our upcoming conference being held in Cambodia in November features a talk called “Making the Most of the Millennials: engaging the digital native generation as clients and employees”. Our guest speaker, Graeme Codrington, will be outlining how best to maximise the potential of Millennials and the massive rewards that can come from understanding this generation.
The transfer of wealth (the Y you need to care)
In the US, it’s estimated that a staggering $30 trillion of financial and non-financial assets will be passed from Baby Boomers to Millennials. However, such a colossal transfer of wealth does not come without its difficulties – and this is where Kreston can help. From asset protection to family wealth and trust planning, our experts across the globe can help ensure that your money finds its way to your loved ones in the most tax-efficient way possible. But looking ahead, what will this great shift in Millennial spending power mean for the wider economy and your business? To answer this question, we need first need to know what constitutes a Millennial.
Millennial traits (the who they are)
Though the descriptions of Millennials vary from region to region, they are set to become the largest generation in history. According to the US Census Bureau, the 75.4 million US Millennials now outnumber the 74.9 million Baby Boomers. And on top of that, they are the most educated generation in history. Roughly 79% of US Millennials have at least a bachelor’s degree, compared to 69% for Generation X and 62% for Baby Boomers. They are tech savvy and more health conscious than previous generations but they are also beset with money issues. More than 40 million US Millennials have student loan debt, owing an average of $29,000 each and a combined total of more than $1tn. They also marry later and are opting to stay at home longer with their parents. Yet Millennial attitudes towards home ownership could change. The sheer numbers of this generation and an increased desire to settle down could spark a wave of home sales in the future.
Access and the double-bottom line (the what they want)
For Millennials, it’s not about buying goods or services – it’s about accessing them. Brands such as Airbnb, Uber and Spotify have come to typify what is now known as the “sharing economy”. Quite simply, they want to have the goods or services they want without the high fixed costs or hassle of ownership. This is already turning numerous industries on its head, and at Kreston, we have been at the forefront of helping companies adjust to this shifting landscape.
Furthermore, if you want your business to remain relevant to a Millennial workforce, you need to know what they want. Today, it’s not enough for a business to be profitable, it must also have social impact. This is what’s known as the “double-bottom line”. A study by The Society for Human Resource Management revealed that “94% of Millennials want to use their skills to benefit a cause”. It’s no surprise then to see the biggest brands take Corporate Social Responsibility (CSR) extremely seriously. Lego, Google and Microsoft took the top three spots in the Forbes list of the 10 Companies with The Best CSR Reputations In 2017. And as part of our own CSR initiative here at Kreston, I’m proud to say that we’re adhering to four of the UN Sustainable Development Goals which are: Good Health and Well-being, Quality Education, Decent Work and Economic Growth, and Responsible Consumption and Production.
I believe that understanding this generation is fundamental to the success of your future business. Millennials are often on the receiving end of negative press. They are characterised by a selfish attitude and having their eyes glued to their smartphones, but I for one have great faith in their potential. As the founder of Alibaba, Jack Ma, put it, “Trust the young people; trust this generation’s innovation. They’re making things, changing innovation every day. And all the consumers are the same: they want new things, they want cheap things, they want good things, they want unique things. If we can create these kinds of things for consumers, they will come.”
Jon Lisby, Kreston CEO
- Published in Blog
Knowing Future Leaders
Kreston held its first Future Leaders conference in the centre of cultural and vibrant Berlin recently, attracting 60 delegates from 14 countries.
Following a welcome reception at the Hotel NH Collection, the one day business event opened with an introduction to Kreston by Kreston Chairman, Bent Kofoed and European Regional Director Dagmar Brösztl-Reinsch. Kreston CEO Jon Lisby then offered attendees an overview of Kreston, its history and strategy to date, emphasising Kreston’s brand values and the importance of forging new and lasting working relationships.
Split into groups, the icebreaker to the conference “Around the World Challenge” had a sailing theme and was presented by global yachtsman Alex Alley and his team from Eventus Training. Through a variety of fun and, at times, tricky tasks, the teams competed to sail a circumnavigation of the World, with a prize for the winning team.
The main session was presented by Tim Sayers from PDW Group and through a range of media, visuals, exercises and activities, Tim and his team facilitated an excellent mix of professional acting and coaching to cover:
- What does it take to be a great leader?
- What are the skills and tools that will enable me to be a great leader?
- What are my next steps as a result of the session?
Social aspects of the conference included dinner at Berlin’s famous and chic Sage Restaurant and a fun morning safari self-drive tour of Berlin in a Trabant, the iconic cardboard car. The conference closed with a traditional lunch at Zollpackhof, a 300 year old restaurant with a distinctive Bavarian flair.
CEO, Jon Lisby commented:
“We are delighted at the success of this Conference which was challenging for the participants but also great fun. I am sure we shall make it an annual event. It was excellent to meet our future leaders and for each of them to have the opportunity to meet colleagues from around the network – I’ve no doubt of the future value these conferences will generate”.
- Published in News
Kreston members Awni Farsakh and Mitchell Charlesworth collaborate to host UAE Financial Reporting Seminar in Dubai
53 delegates from over 34 companies attended a recent VAT seminar at the Ritz Carlton Hotel in Dubai. The event, hosted by Kreston member Awni Farsakh, and supported by UK member firm Mitchell Charlesworth covered Financial Reporting and changing Regulations and Laws in the UAE.
The participants represented many sectors including Trading, contracting, manufacturing, real estate, education, hospitality, professional services and healthcare.
The sessions included presentations covering the legal implications of new bankruptcy laws and liquidations; litigation processes and complications and an update on the UAE’s VAT laws.
Alison Birch, VAT Director at UK firm Mitchel Charlesworth, discussed the approach to VAT readiness and then presented several UK VAT case studies.
A Q & A session concluded the event.
Managing Partner of Awni Farsakh, Mr Eyad Farsakh said:
“This was an excellent seminar. We would like to offer special thanks to Alison and Mitchell Charlesworth for her and her firms support and cooperation and, going forward, we hope to develop a strong working relationship with regards to VAT services in the UAE”
Jon Lisby, Kreston CEO added:
“This was clearly a very successful event and is an excellent example of how Kreston firms can work together to achieve outstanding results”
- Published in News