(Business in Cameroon) - Grant Thornton International Ltd (GTIL), the British financial consulting and audit group, announced that it has newly acquired two consulting firms, both based in Cameroon.

The first firm, FAA Tax & Legal, will become Grant Thornton Tax & Legal. It will employ 20 people and will be headed by Jacques Bakelak.

The second, AGM Cameroon, will be renamed Grant Thornton Audit & Advisory. Specialized in public accounting, auditing, and consulting, the firm will be headed by Emmanuel Nack.

The two cabinets which will operate under the name Grant Thornton Cameroon will employ 30 people overall and will be located in the same building, in Douala, Cameroon’s economic capital. An additional office will also be opened in Yaoundé, the capital, official sources revealed.

The acquisition of the two Cameroon’s cabinets by the British audit group, closely resemble franchising in that, except for “some specific cases”,  “GTIL and each member firm is a separate legal entity". In most cases, there is no equity-based relationship between GTIL and the member firms.

Brice R. Mbodiam