Ad group Nahana achieves independence
Local advertising company steps up to become an African group
20 July 2023 - 05:00
In a restructuring move other internationally affiliated advertising agency groups in South Africa will watch closely, the Nahana Communications Group, 39% owned by US-based Interpublic Group (IPG), has executed what it calls a deconsolidation deal.
Locally the Nahana stable includes FCB Africa, McCann Joburg and The MediaShop. IPG consists of five major networks: FCB, IPG Mediabrands, McCann Worldgroup, MullenLowe Group and Marketing Specialists. IPG reported a 2.3% decline in net revenue in its first-quarter results in April, but says this is consistent with internal forecasts...
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