Congratulations are in order as Duma Collective, owned by Sibu Mabena, has bought into M&N Brands an ad agency network that houses advertising, communications & media businesses including the Avatar Agency Group, in a monumental share exchange deal.
The news was made known by Phil Mphela and Sibu also confirmed.
M&N Brands has acquired a minority stake in Duma Collective, keeping Duma Collective a 100% black-owned and majority women-owned entity. The deal will result in the entire M&N network employing over 180 people.
Mabena will remain the managing director of Duma Collective and becomes a partner at M&N Brands.
“Avatar’s track record and its established clientele both on a local and global scale, through this collaboration, add to the gravitas of the industry-leading agency that is Duma Collective. As Duma Collective, we add strong event production, activations, social media, strategy, and influencer management capabilities into the mix,” says Mabena.
“We are also the brand custodians of some of Africa’s biggest stars including Somizi Mhlongo, Jessica Nkosi, Mihlali Ndamase, Kwesta, Bonko Khoza, Motshidisi Mohono and DJ Ph,” she added.
THANK YOU FOR SHARING THE GOOD NEWS @PhilMphela … Though it is me in the picture, I stand as many young creatives who all just wanted a chance to do cool s*** and get paid for it. This is a God dream to be able to now do it on a bigger scale. https://t.co/feHujoxAAH