by Kim Penstone In advertising circles, Zimbabwe is perhaps most famous for its now defunct currency, which was glued to billboards across the country in the award-winning “Trillion Dollar” campaign for The Zimbabwean. It’s been three years since the Zimbabwean dollar was abolished and the country adopted the US dollar as its official currency, but the perception of worthlessness remains.
But (to paraphrase Ford’s famous line): have you been to Zimbabwe lately?
“Zimbabwe is growing, even thriving. Commercially speaking, it’s probably more stable than South Africa!” says Denford Magora, CEO of The Jupiter Drawing Room (Zimbabwe) & Partners.
He speaks from direct experience, having grown TJDR (Zimbabwe) & Partners into the largest advertising agency group in the country in just one year, boasting annual revenue of over R30 million, and a blue chip client base that includes Old Mutual Zimbabwe, Zimplats, Toyota, Nando’s, Schweppes, CBZ bank, Delta Beverages (SABMiller Zimbabwe), Western Union and South African Airways.
Magora, who was born and bred in Zimbabwe and has work experience in both South Africa and the UK , already owned and operated a successful agency out of Harare. But recognising the potential for growth, especially post hyperinflation which saw the demise of many global groups in the country, he approached The Jupiter Drawing Room with a partnership proposal. Today, Magora is CEO of The Jupiter Drawing Room (Zimbabwe) & Partners, which incorporates existing agency Jericho and a new agency, The Jupiter Drawing Room (Harare).
Magora explains that the abolition of the Zimbabwean dollar in 2009 was like a call to arms for Zimbabweans scattered across the globe. Many of those who had left the country have returned, with international experience, determination to make the country work, and an unfaltering belief in the future of the country that was once famous for being the “breadbasket of Africa”.
Zimbabwe is currently experiencing GDP growth of 5%, but Magora points out that industrial and manufacturing capacity is operating below 60%, which means that there is plenty room for growth. He adds that many companies are waiting for so-called ‘political normalisation’ before they step into Zimbabwe – “but they forget that there is a population of around 14 million people living there now, who have needs and wants.” And for the first time in a long time, real currency to spend.
