As the advertising industry faces an April implementation of new transformation targets, the independent House of Brave agency has sold a 25.1% stake to FastGro Investment Holdings, a 100% black-owned investment firm active in various sectors, including hospitality, franchising and construction. A 45% black industry ownership target has been stipulated in the marketing, advertising and communications BBBEE charter from the end of March. Many agencies are unlikely to hit this mark, and many are accelerating a ramp-up strategy. House of Brave will within weeks announce a share realignment that will further increase its black shareholding. Among House of Brave’s clients are Bidvest Bank, Ocean Basket, Namibia Breweries and Tiger Brands. It has a turnover of R150m and employs 70 people. Karabo Songo, founder of Olive Communications, has been appointed new group CEO. Marketer, author and strategist Musa Kalenga has been named chief future officer. House of Brave was formed six years ago ...
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