MAC Charter Council announces Marketing, Advertising and Communications Charter Fund

Public-Private Partnership announcing the Marketing, Advertising and Communications Charter Fund

The Marketing, Advertising and Communications (MAC) Sector Council and eQvest Limited hosted a media briefing at The Syrene Hotel today in Sandton, Johannesburg to outline the Advertising, and Communications Charter (MACC) Fund which will be launched at a later stage.

This ground-breaking initiative is poised to revolutionize the landscape of the media, advertising, and communications industry, fostering diversity, equity, and innovation. Members of the MAC Council alongside distinguished executives from eQvest Limited outlined the fund's significance in driving social impact and its alignment with Broad-Based Black Economic Empowerment (B-BBEE) standards within the MAC Sector.

The MACC Fund represents a significant step forward in catalysing growth and transformation within the media, advertising, and communications industry. By fostering diversity and inclusivity, the fund seeks to create a more equitable playing field, empowering underrepresented voices and promoting innovation.

"This partnership between the MAC Sector Council and eQvest Limited marks a significant milestone in our collective efforts to drive positive change within the industry. The MACC Fund represents a powerful tool for advancing diversity, equity, and inclusion, and we are excited to see the impact it will have on the sector”, remarked Angelo Tandy, Chairperson of the MAC Sector Council.

At the heart of the MACC Fund is a commitment to social impact and economic empowerment. Through strategic investments and initiatives, the fund aims to support marginalized communities, promote entrepreneurship, and drive sustainable development.

"We are thrilled to partner with the MAC Sector Council in launching the MACC Fund, this initiative underscores our shared commitment to driving positive change and fostering innovation within the media, advertising, and communications industry. Together, we will work towards a more inclusive and equitable future”, said Nathaniel Bricknell, CEO of eQvest.

Notes to the editor:

The MAC Charter Sector Council is responsible for, among other things, overseeing the implementation of the MAC Charter Sector Code; monitoring compliance with the MAC Charter Sector Code; providing guidance on matters relating to BEE in the MAC sector; developing baseline indicators for all different elements of the B-BBEE.

The MACC Fund is positioned as a transformative instrument within South Africa's creative and cultural industries, particularly in the advertising, communication, marketing and public relations sector.  By leveraging a unique private-public partnership model, it aims to catalyse investment into areas critical for national development, including social cohesion, nation-building, and poverty alleviation, above-the-line media, outdoor media buying, equipment purchasing, as well as infrastructure development Hosted on the eQvest Limited funding platform, the fund represents a pioneering initiative to bridge the gap between promising private companies and potential investors, driving economic empowerment and fostering diversity within the MAC landscape.

About the MAC Sector Council: The Marketing, Advertising, and Communications (MAC) Sector Council is a leading authority in the media, advertising, and communications industry, dedicated to promoting diversity, equity, and innovation. Comprised of industry leaders and experts, the MAC Council works collaboratively to address key challenges and opportunities facing the sector.

About eQvest Limited: eQvest Limited is a pioneering investment platform committed to driving positive change and fostering innovation in the private equity space. With a focus on sustainability and social impact, eQvest Limited connects investors with high-potential investment opportunities, driving growth and transformation across various sectors.

For more information, please visit https://maccfund.co.za/

Request for interviews: Bathabile Mthimunye on Bathabile@gcis.gov.za

For media inquiries: Sandile Nene on 083 712-2316