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Tag: Deloitte

  • $2.35 billion projected for Women’s elite sports  in 2025

    $2.35 billion projected for Women’s elite sports  in 2025

    Global revenues in women’s elite sports will surpass $2.35 billion in 2025, up from $1.88 billion last year, according to  Deloitte

    The projected amount based on matchday, broadcast and commercial revenues is predicted to have increased by 240% in four years, Deloitte said. In 2024, annual global revenue for women’s elite sports had crossed the billion-dollar threshold for the first time.

    Commercial income is predicted to bring in the largest share of revenue at 54% this year, while broadcast is expected to rise to 25% and matchday revenues to contribute 21%, Deloitte added.

    Basketball and football are projected to remain as the two highest revenue-generating sports in 2025 at 44% and 35%, respectively.

    “The growth of women’s sport has continued to exceed expectations as various competitions, leagues, clubs, and athletes generate significant returns, despite limited resources,” Jennifer Haskel, knowledge and insights lead in the Deloitte Sports Business Group, said in a news release.

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    “In 2025 and beyond, the challenge will be for the sports’ industry, brand partners and investors to do things differently.

    “This will allow them to better understand the opportunities in the market and to capitalise on the current growth trajectory of women’s sports and create an ecosystem where women’s sports can thrive.”

    The August 22-September 27 Rugby Women’s World Cup in England and the 2027 FIFA Women’s World Cup in Brazil are also expected to generate significant revenues, Deloitte added.

    “The commercial appeal of women’s sports and its athletes has never been higher, as the sector continues to shine on the global stage. Increasing strategic investment is more important than ever to drive a professional global landscape and create an engaging industry for generations to come,” Haskel said.

    “To successfully capitalise on this investment, it is crucial for women’s sport organisations to implement the right structures, develop a clear plan for investment, and define a long-term vision for their place within a rapidly evolving global industry.”

  • Technical Director urges more competitions, sponsorships for Chess

    Technical Director urges more competitions, sponsorships for Chess

    The Technical Director, Lagos State Chess Association (LSCA), Bayo Babalola, on Sunday appealed for more sponsorships of tournaments at the grassroots for the discovery of more talents in chess.

    Babalola made the call while reviewing the just-concluded PricewaterhouseCoopers (PwC) Chess4change Championships at the Teslim Balogun Stadium, Surulere, Lagos, in an interview with the News Agency of Nigeria (NAN).

    NAN reports that PwC, a multinational professional service network, headquartered in U.K. is the second largest professional services firm in the world and one of the big four auditors along with Deloitte, EY and KPMG.

    The tournament for the secondary school started last Wednesday ended on Friday and had 22 schools with about 320 students as participant.

    The first edition of the competition in 2014 had six schools represented but the number was doubled in 2015 to 12, and now increased to 22.

    Babalola said that dearth of competitions at the grassroots might not augur well for the future of the game in the country.

    “We need more grassroots sponsorships for competitions for chess in the country. PwC cannot do it alone. All hands must be on deck to promote the sport.

    “As we know grassroots competition is the future of any sport. So we need more of these championships to help the game grow more in Nigeria.

    “PwC has been in the forefront of grassroots chess sponsorship for the past three years because they believe that there are so many benefits children can derive from it.

    “Aside that, chess can help the children professionally, it can also help them academically too. It improves the mental alertness of the kids. It’s such an undeniable fact,’’ he told NAN.

    Babalola urged government at all levels to consider adding chess to the school curriculum, noting that it was done in some overseas countries.

    “We have talked about the usefulness of chess to the development of any child mentally and I know government is well aware of this, yet they are doing nothing to develop it.

    “As a matter of importance, government need to add chess to school curriculum. Many countries overseas have tried it and it worked for them. We should copy that.

    “Adding chess to the school curriculum will help to stimulate the mental alertness of the students, it will also increase their analytical thinking and quantitative and qualitative reasoning.

    “Chess has a lot of benefits children can derive, so we need to give it the due consideration it deserves,’’ he said.

  • Auditors kick against dominance by KPMG, Deloitte, others

    Auditors kick against dominance by KPMG, Deloitte, others

    Indigenous auditors are concerned about the rising level of control enjoyed by  KPMG,  Pricewaterhouse Coopers, Accenture, Deloitte and Ernst & Young  commonly referred to as the “big five” professional services firms.

    The Chairman, SIAO, an indigenous auditing firm, Robert Ade-Odiachi said the “big five” have corned top jobs from government parastatals, banks and other leading firms in the country.

    He said the relevance being given to the firms runs contrary to the Local Content Act, 2010, which stipulated that key jobs from government be done by local auditors, in partnership with international operators.

    Ade-Odiachi said the “big five” are parading themselves as indigenous Nigerian firms when what they are at best are franchises of foreign professional firms. “What we are witnessing presently, in the business sector of this country, is a blatant disregard for the provisions of the Nigerian Local Content Act, 2010. The “big five” professional services firms are parading themselves as indigenous Nigerian firms when what they are at best are franchises of foreign professional firms, he said.

    Continuing, he said the firms service all banks, most if not all most public quoted companies and Ministries, Departments and Agencies (MDAs), multinationals and other public interest companies to the utmost total exclusion of indigenous formed and owned firm.

    Managing Partner, SIAO, Itua Ighodalo said the “big five” have managed to do this because of the negligence and in very many cases, the support of government agencies. He said the local Content Act, 2010 is clear in its provisions and intent.

    He said the purpose of enacting the Local Content Act is to develop local skills, facilitate technology transfer, ensure optimum use of local manpower and local manufacturing in the Nigerian Oil and Gas sector.

    Ighodalo argued that even if foreign companies are registered in Nigeria, and can qualify as Nigerian firms, they are most certainly not indigenous or wholly Nigerian.

    “It is needless to state that the Local Content Act was enacted to cater for and provide protection for Nigerian indigenous companies that are in competition with foreign companies and foreign companies with subsidiaries in Nigeria,” he said.

  • Deloitte expands African foothold

    Deloitte expands African foothold

    Professional services firm Deloitte has opened a new office in Rwanda in line with its strategy to consolidate the firm’s operations and further cement its market leading position across the continent.

    The opening of an office in East Africa – based in the Rwandan capital, Kigali – adds to the Deloitte EastAfrican offices in Nairobi and Mombasa, Dar es Salaam, Kampala and Addis Ababa, the firm said in a statement.

    Deloitte agreed to integrate its operations in Africa with a new structure for East and Central Africa which comprises the operation and growth of the East African and Central African outfits and the Central African one comprising of Malawi, Rwanda, Zambia and Zimbabwe. Through this, it has clustered together its existing well-established practices, thus expanding the firm’s reach and level of expertise to ultimately assist clients with optimising their business across the continent.

    Deloitte Africa Chief Executive Officer, Lwazi Bam, referred to the opening of the Kigali office as a landmark achievement for Deloitte Africa.

    “We now have a physical presence in 34 countries and service 51 countries across the African continent. In this coming of age for Africa investment and business growth, we remain committed to assisting our clients through our audit, consulting, financial advisory, risk management and tax services to ensure that they can remain competitive and well-informed in this conducive business environment,” said Bam.

  • Deloitte integrates practices

    Deloitte, one of the leading global professional services firms, has announced the formation of an integrated practice across Africa with Nigeria playing a strategic role in the new process.

    The establishment of the integrated Deloitte Africa and the dedicated investment in Nigeria by Akintola Williams Deloitte (AWD), will ensure clients are served seamlessly in Nigeria and across the entire continent.

    According to the company, the integration is in demonstration of its commitment to the Nigerian and African markets.

    Deloitte has offices in 34 countries in Africa, which have been clustered into English, French and Portuguese-speaking areas.

    Chief Executive Officer, Delliotte Africa, Lwazi Bam, said the legal integration of these firms will move Deloitte into a completely different league noting that as part of this integration, Deloitte has designated Nigeria a “priority market”.

    “As a priority market, AWD will receive substantial financial investments aimed at enhancing the quality and breadth of services provided to its local and cross border clients. This will leverage off the great depth of expertise already on the continent and across the globe,” Bam said.

    He noted that the company has formed a new governance board with Olufemi Abegunde as the chairman.

    Abegunde leads the firm‘s oil and gas practice. Tawanda Gumbo, who was the chief executive of Deloitte Zimbabwe/Malawi and has been the leader of the consumer business practice in Nigeria will serve as the transitional leader.

    The Chief Executive of AWD, Adeniyi Obe, will be retiring at the end of the month.

    “Mr Akintola Williams, Nigeria’s first chartered accountant, founded the firm more than 50 years ago. He had the wisdom to bring us into the Deloitte network, and we are now one of the leading professional services providers in Nigeria.

    “We have evolved from our proud roots of being an indigenous firm to a world class practice. Mr Williams is very proud of this next stage in our evolution,” Abegunde said.

     

     

     

    He added that AWD’s clients will now have even more seamless access to the pool of expertise available throughout Deloitte’s regional and world-wide practices.

    “They will be the biggest beneficiaries. It will permit the best expertise to be deployed on an assignment, regardless of country,” Abegunde said.

    In his remarks, Gumbo said the company’s goal is to be the standard of excellence in Nigeria in each of its service lines.

    “This is also a reflection of our confidence in the huge potential of the Nigerian market as well as a deep desire to further develop the human capital base in Nigeria. We are committed to ensuring that Deloitte’s core values of integrity, objectivity, independence and technical excellence are part of our DNA within AWD,” Gumbo said.