Y&R Gitam sells 30% empowerment stake

Young & Rubicam Gitam (Y&R Gitam) is selling a 30% stake in the agency to Memeza-QRX, an independent investment consortium led by Mavuso Msimang, Sylvester Haanyama and Peter Katuliiba. Msimang, CEO of SA National Parks, joins Y&R Gitam’s board as non-executive chairman, while Haanyama, formerly an adviser in Post Office restructuring, and Katuliibe, a print broker and consultant, will work in the agency as directors.