Safa hires EY for improving financial management

27 December 2013 Consultancy.uk

The South African Football Association (Safa*) has signed a long-term partnership with EY. The accountants- and consulting firm will be tasked with improving the body’s poor financial management and corporate governance.

Since the 2010 World Cup in South Africa, the Safa has gone through a difficult time. Last year it even recorded a loss of R46-million (€3,2 million), mainly a result of mismanagement and a structural negative financial household. To make matters worse, it has over the past months been linked with match-fixing scandals that refuse to go away. Following the match-fixing claims, sportswear company Puma cut ties with Safa after less than two years of a partnership that was expected to run until 2018. The deal was worth R20-million (something close to €1,4 million) a year. And last month Absa, a xxx bank, announced that it too would end its relationship with Safa after a six-year partnership.

Zuid-Afrikaanse-voetbalbond-Safa-schakelt-EY-in-8424

To counter the negative trend the Safa recently hired a new CEO, Danny Jordaan, who joined in September. One of his first actions is to bring the sport association back to black digits and to recover its image among sporters, sponsors and the general public. EY has been hired to advise on the matter. “We are pleased to have EY on board. We want to establish a good financial control and management, and EY has a strong track record in helping companies achieve this. Just take a look at the FIFA, EY has worked with FIFA to help get it where it is" Jordaan says.

Earlier projects
EY is not unfamiliar to Safa. The Big 4 office has fulfilled multiple assignments during by the command of Safa during the past years, including implementing a purchase platform in 2012, internal audit and also during the World Championship EY intensively involved with a broad scala of audit, taxes and financial services.

* Safa, also known as the South African Football Association.

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Grey Consulting and Makerversity announce strategic partnership

05 April 2019 Consultancy.uk

Grey Consulting has forged a new alliance with Makerversity, a 500-strong community of the brightest creative innovators, headquartered at Somerset House, London. The partnership hopes to tap into the experimental community to develop pioneering solutions for Grey Consulting’s clients.

In August 2018, one of the world’s largest design agencies surprised the business world by launching a dedicated consulting outfit. The news came as the two industries continued on their trajectory towards a historic synthesis. The consulting industry has been engaged in a pitched battle with the advertising and design space for the past few years, as the former increasingly encroaches on the territory of the latter via a protracted campaign of mergers and acquisitions; but there had been little traffic moving in the other direction.

At its launch, Grey Consulting was not billed as a direct competitor to established consultancies. However, the firm behind the new entity hopes that its creative experience will give it a competitive edge in winning consulting business from its existing clients. The Grey Group is a global advertising and marketing agency with headquarters in New York City, and 432 offices in 96 countries, operating in 154 cities. Grey Consulting opened its doors with a view to aiding clients within the areas of business and brand design, innovation and digital transformations.Grey Consulting and Makerversity announce strategic partnership

Now, as the firm looks to further expand its footprint in the market, Grey Consulting has unveiled details of a ground-breaking new alliance with Makerversity, a 500-strong community of creative innovators headquartered at Somerset House, London. The alignment with Makerversity is hoped to unlock the potential of collaborating with one of the world’s most experimental communities.

Makerversity curates and convenes the best talent across product design, fashion, art and experimental architecture, sustainable materials, IoT, digital manufacturing, and coding. It provides spaces and workshops for professional makers to develop and create their work, supported by Somerset House Trust. The alliance is expected to enable Grey Consulting to develop pioneering solutions for its clients, together with innovators who make something amazing for a living, every day. 

Leo Rayman, Grey Consulting CEO, commented, “This gives our clients the potential to access a network of some of the most diverse and innovative individuals in the world today. Being so tightly connected to a community of makers means we don’t just develop transformational strategies but can quickly realise them in three dimensions. This sets Grey Consulting apart from the pure play strategy houses who are sometimes criticised for not making their thinking real at the pace modern businesses require.” 

Fiona Dent, CEO of Makerversity, added, “Makerversity acts as a catalyst for unexpected encounters, fostering collaborations between an incredible range of the brightest leading creators and innovators. Our experimental approach and engaged members, whose own practice is defining our world, create highly original new outcomes. We are delighted to bring this philosophy to a wider audience and generate interesting projects for Makerversity members through our partnership with Grey Consulting.”