Global Ad Agencies Flocking to Africa
(Wall Street Journal) — In early 2009, Kofi Amoo-Gottfried, a nephew of former United Nations Secretary General Kofi Annan, was asked by a global advertising agency to set up its new operation in his homeland of Ghana. “Fifteen months after Kofi started to set up shop, we already have higher revenue in Ghana than in South Africa,” said Richard Pinder, chief operating officer of Publicis Worldwide, a unit of Publicis Groupe SA, which wants to increase its business on the continent. The reason: Advertising growth in Africa is soaring, driven by telecom companies, financial services firms and makers of consumer products.
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