Demographica concludes deal to empower small black-owned agencies
23 May 2017
B2B agency, Demographica, has just concluded a deal with a private equity fund that will see the agency investing in developing black-owned businesses and agencies within the marketing and communication space.
Warren Moss, CEO of Demographica, notes that this has been a long journey for Demographica, both on a business level and a personal level, and is something the agency and its team have put a lot of time and effort into.
“While BEE laws have changed (and will likely continue to change), the spirit of the law doesn’t change. That said, the biggest question we asked ourselves along this journey was: ‘how do we empower, or make transformation broad based – within the spirit of the law?’ From there we spent a lot of time exploring the best way to go about it and looking for the right partner, which we finally found in a small private equity firm whose mandate is to invest in black-owned businesses. The great thing about this private equity firm is that Demographica is one of their first investments, and by partnering with them we are able to empower their business while at the same time investing in transformation within the industry,” says Moss
This deal has now taken Demographica from a Level 3 BEE status to a Level 1 BEE status, with 60% of the business being black-owned, and 30% black female-owned.
Demographica are big advocates and supporters of skills development and small agency development within the industry, and so Moss and his team at Demographica will play an active role in empowering black-owned agencies and developing suppliers and skills through this deal.
Any small black-owned agencies within the marketing and communication space who are interested to receive more information or to discuss potential opportunities in this regard can get in touch with Moss directly, who is actively looking for the right partnerships: firstname.lastname@example.org
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