Redhouse PR Chief Executive Koome Mwambia. Photo/File?
A local private equity firm has ventured into the marketing services scene with a Sh420 million investment.
Redhouse Group has established a public relations, advertising, and media buying unit and secured access to similar business run by Media Edge Group in which it has bought a majority stake.
The advertising market is dominated by ScanGroup with a 77 per cent market share, followed by Access Leo (six per cent), Ogilvy (five per cent), and Mindshare (three per cent). The rest of the nine per cent market is shared out by 14 firms, including Media Edge, which has 0.2 per cent.
Redhouse has tapped the services of former senior executives at Scangroup?s subsidiary Ogilvy East Africa to gain from their experience in the competitive market.
Its advent likely to raise competition against established firms like ScanGroup and Access Leo Burnett.
It has hired former Ogilvy Kenya Public Relations Managing Director Okoth Obado for a similar role at Redhouse PR.
Koome Mwambia, the former CEO of Ogilvy East Africa and who moved to a similar position at Media Edge, has now been appointed as chief executive Redhouse Group.
Mr Obado was replaced by Nick Wachira, the former managing director of The EastAfrican newspaper. Anthony Wahome, a serial entrepreneur, is one of the local businesspersons behind the new company where he is the chairman.
?As investors, we want to bet on tested and tried professionals and ensure that beyond the traditional attractive perks, our senior talent drive their business units informed by the burden for results and anchored on long-term commitment to service client business and grow the bottom line?, Mr Wahome said.
Mr Wahome?s business interests include Hillcrest International Schools, Linksoft Group of Companies and Rose of Sharon Academy.
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