Citibank NA has announced its appointment of DDB South Africa as its new advertising and marketing partner for South Africa, and the DDB Africa network for East and Southern Africa.
The account will be managed out of the DDB South African office, which will act as Citigroup's lead agency for Africa. This appointment by Citigroup of DDB is thought to be one of the largest regional pitches yet held and signals the importance of building a strong African network.
Although a final budget has yet to be confirmed, it is thought to be substantial and will be a real boost for the DDB Africa network.
This account is the first large win for DDB South Africa with its new empowerment partners Cape Empowerment Trust Limited. The appointment was subject to strong empowerment credentials. DDB South Africa is 40% owned by Cape Empowerment Trust Limited.
Citibank is the largest financial institution in the world and is represented on 6 continents in 101 countries and employs 230 000 people.
DDB South Africa is a member agency of the DDB Communications Group SA and is currently ranked as the 13th largest agency in the country with annual income of R35.7 million and grossed billings of R228 million.
Cape Empowerment Trust is a Cape based investment holding company listed on the Johannesburg Securities Exchange. Its mission has been to change traditional ownership patterns in the South African economy while upholding sound business principles. A process the company believes is best achieved through growth and mutual development rather than displacement.
