Octagon’s SA affiliation agreement ends
The executive management of sports, music and entertainment marketing agency, Octagon South Africa, has announced the end of its affiliation agreement with Octagon Global, which gave licensed usage of the Octagon brand and intellectual property exchange. This is the culmination of a process that began in 2013 with a buyout of Octagon Global’s ownership interest in the SA operations by the SA shareholders. The company will now be known as Republicom.
Qondisa Ngwenya, CEO of Republicom and former CEO of Octagon Africa, says, “This is a bittersweet moment for us. We have enjoyed a 23-year, close-working partnership with Octagon. The Octagon brand in South Africa and the rest of the continent has over the years been associated with some of Africa’s leading brands, in which Octagon has contributed to building their brand prominence and household affinity.
“With rapid changes to our industry resulting from the increasing demands by clients for more-integrated marketing solutions and the convergence of media platforms driven by technology developments, we have identified an opportunity to redirect the focus of the business. Ownership became the first central pillar of the strategic process of evolving the agency. Octagon responded positively and we could conduct a buyout. The end of the affiliation agreement is the culmination of that process,” adds Ngwenya.