ACA sells AAA School of Advertising
The Association for Communication and Advertising (ACA) has announced it will sell its shareholding in the AAA School of Advertising to Richfield Holdings; this follows an offer to purchase that was duly accepted by the ACA at its AGM, 24 May 2018. Richfield is a higher education institution in South Africa that offers a wide range of degree, diploma and certificate programs.
“One of the key aspects of the Richfield offering is their ability to incorporate technology into tertiary education — specifically, within the AAA, and in so doing, take the AAA to greater success going forward,” says Boniswa Pezisa, outgoing ACA chair. “The sale of the AAA has been concluded with a view to ensuring the future proofing of the institution, together with safeguarding the continued legacy that has become the AAA within the broader advertising, communications, media and marketing professions.”
“In a similar vein to how the marketing, advertising and communications sector often disrupts and drives change, so, too, has Richfield pioneered disruptive methodologies and technologies with respect to tuition and the cost of education,” says Jay Ramnundlall, Richfield CEO. “It is with great anticipation that we add the marketing, advertising and communications sector to our wide-ranging offering and continue delivering highly qualified individuals [who] employers in the sector require and have become accustomed to receiving from the AAA.”
The ACA and Richfield have signed an MOU which ensures the ACA’s involvement for a period of no less than three years. The ACA will continue promoting the AAA and assisting with industry activities in the same manner as it has done in the past. The sale is effective as of 1 January 2018, with Richfield assuming a management role with immediate effect.
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