Veli Ngubane, Sibu Mabena and Zibusiso Mkhwanazi
"We are immensely grateful for the invaluable journey shared with M+N, which has set the stage in shaping Duma Collective's trajectory," remarked Sibu Mabena, founder of Duma Collective.
"As we transition into a new chapter, we carry forward the lessons learned and the spirit of collaboration that defined our partnership and look forward to continuing our path of creative excellence."
In March 2022, Duma and M+N went into a partnership which saw a share exchange deal between the two companies. The Duma and M+N partnership has proven instrumental in achieving this exponential growth, meeting its goal of advancing Duma into a more refined and robust business entity while creating mutually beneficial value for both companies.
“Now that both companies have met their objectives, the timing is right for a selling of each other’s shares. This transition will result in me selling my shares in M+N owned agencies back to M+N and vice versa,” adds Mabena.
Mabena describes the agency’s new path as a strategic realignment that positions Duma Collective for sustained growth and impact. “We remain committed to our mission of building a legacy of creativity, innovation and inclusivity while staying true to our roots and values."
The strategic transition comes on the heels of remarkable growth for Duma Collective, with a notable 56% increase in revenue and a 20% expansion in human capital and also taking ownership of two new offices in the Johannesburg North area since the transaction with M+N.
“Duma's inclusion within M+N injected a fresh youthfulness into the Agency group, with Sibu offering a novel perspective. This fostered collaboration among Duma, the Media Agency, and the creative teams, ultimately yielding shared value over time,” says Zibusiso Mkhwanazi, executive chairman of M+N. “Witnessing Duma Collective's remarkable growth fills us with immense pride. This is a remarkable milestone, having completed what we’ve set out to accomplish during our partnership. We look forward to seeing their continued success in the industry," he adds.
With a seasoned team and a strategic approach, the agency is set to maintain its trajectory of growth, cementing its commitment to building a legacy of creativity, innovation, and impact, shared with clients, partners, and the industry.
