EXCLUSIVE: Majority black-owned Joe Public United making history
In a recently concluded transaction with three agency executives and an outside investor, Joe Public United is on its way to becoming SA’s largest majority black-owned, independent advertising agency
Sixty percent of ad agency group Joe Public United has been acquired by black shareholders. It means the company that counts Nedbank, Clover and Chicken Licken among its clients is now on its way to becoming SA’s largest majority black-owned, independent agency.Three senior agency executives, Khuthala Gala Holten, Xolisa Dyeshana and Mpume Ngobese, will acquire 26% and private equity investment company Senatla Capital will take 34% of the firm.The three Joe Public staffers who form part of the transaction have formed a company called Ikamva Lakusasa — in Xhosa, the future of tomorrow. The new structure also includes a mechanism for equity to be made available, in time, to Joe Public staff.The remaining 40% of the shareholding is retained by the current shareholders, including group CEO Gareth Leck and chief creative officer Pepe Marais."This is the culmination of hard work and late nights, all in pursuit of a dream about genuine transformation in the brand communications industry," ...