Following the financial implosion of the Marketing Federation of South Africa [WAMN: 04-Oct-05], a new backer has stepped forard to save the country's Marketing Excellence Awards.
The Sunday Times Business Times weekly newspaper, owned by Johnnic Communications, will appoint a board of marketing advisers to review the judging process and nominations for the awards before it takes over sponsorship next year.
The company says it recognizes the awards' valuable role in promoting marketing excellence in South Africa since their launch in 1975. It will also take over the Assegai Awards, started in 1999, which measure the return on investment of a marketing campaign.
Says Brendan O'Donnell, caretaker ceo of the MFSA: "Irrespective of the respective bodies that currently exist or may come into being, it remains essential from a marketing industry perspective that we continue with these awards."
The MFSA is being wound down with debts exceeding 5 million Rand (£776k; €651k; £442k).
Data sourced from bizcommunity.com (South Africa); additional content by WARC staff