Moringa Ogilvy & Mather and Scangroup have agreed to create a Pan-African joint venture via a share swap transaction, subject to regulatory and shareholder approval.
The move is aimed at strengthening a common expansion and growth strategy for the two groups in sub-Saharan Africa in the sector of advertising, marketing and public relations.
In a statement to Daily Monitor, the two groups said the Sub-Saharan Africa joint venture is born from a shared vision to ensure African operations are well positioned to offer real breadth and depth of marketing services across the continent.
Ms Nunu Ntshingila, the Ogilvy South Africa CEO said: "Since the 1990's, Ogilvy South Africa has been active in the development of a world-class Pan-African communication network."
She said the partnerships are done on a deep-seated confidence that approves Africa as a continent of opportunity. "We've invested in partnerships with quality affiliates, in training and in the management of the network," she said.
Ogilvy will only exchange its shareholdings in operations outside South Africa.
Source: http://allafrica.com
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