Data provided by McGregor BFA
All data is delayed
Loading...
See More

Grey scoops empowerment accolade

Aug 31 2009 16:30 Poloko Mofokeng

Related Articles

Old Mutual thinks about Draftfcb

See you at the grabfest

Toyota stays with Draftfcb

Always Coca-Cola

Draft makes Pendoring bid

Is anybody out there listening?

 

Johannesburg - Grey South Africa, the marketing communications firm, has orchestrated a dramatic turnaround in its empowerment strategty earning itself a top Level 5 rating compared to the non-compliance it was deemed to have only 12 months ago.

This means Grey's clients can claim 80% of what they spend with the company as 'preferential procurement' for their rate cards.

Grey CEO, Tim Byrne, described the milestone as having a profound impact on how the firm's success would be benchmarked.

Grey Group is South Africa's eighth biggest marketing communications group, and comprises Grey South Africa, MediaCompete and Dicomm Grey.

According to Bongani Khumalo, Grey chairman and a shareholder, achieving this empowerment status had been an objective since he joined the firm in 2003. The agency was cited for performing well in the BBBEE (broad-based black economic empowerment) criteria of ownership, preferential procurement, enterprise development and socio-economic development.

Some 25.1% of Grey's shares are black-owned. It also invested 3% of its after-tax profit in an educational games manufacturing start-up and the marketing of a 100% black female-owned business.

"We believe an advertising agency, just like any other brand, can be a power for good," said Byrne. Grey also counted 10 pro-bono projects among its socio-economic development initiatives.

Advertising agencies can go beyond merely providing communication to assisting from a commercial or strategic perspective for social investment projects, said Byrne.

The firm worked with clients of cause-related marketing programmes, said Byrne. Human resource development was also a focus with in-house training and workshops, he said.

- Fin24.com

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Zuma: Pray for peaceful polls

President Jacob Zuma has asked members of the Universal Church of the Kingdom of God to pray for peaceful elections on 7 May.

 
 

Latest elections multimedia

Why Jack Parow wants you to vote on 7 May
The ad the SABC doesn't want to air
Elections 2014 in one cartoon
This year's election posters

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...