Big news from Provantage Out of Home Media

Johannesburg based Investment Company Zico (Zungu Investment Company) has acquired a significant shareholding in Provantage.  The transaction will not only significantly boost Provantage’s empowerment credentials and illustrate their firm commitment to transformation in the media industry, but will also substantially enhance their ability to raise capital and attract public contracts and business.

Zico also holds equity in Outdoor Network, which operates in South Africa and four other African markets. The future synergy between Provantage and Outdoor Network makes meaningful strategic sense and will position the group as a fast growing, innovative player in out of home media on the continent.

Provantage is extremely excited about the future with their new partner.  The transaction will not only significantly boost their empowerment credentials and illustrate their firm commitment to transformation in the media industry, but will also substantially enhance their ability to raise capital and attract significant public contracts and business.

Zico comes with a proven track record and their strategic input and professionalism is already making a noteworthy impact in assisting Provantage with some major new out of home media opportunities which will come on stream in 2012.

After a long search for the right equity partners, Provantage are delighted to have a company of such calibre and stature as Zico as part of their business. “Not only am I ecstatic about Zico and what they will bring to our business, but it is fantastic  to have a new equity partner on board that has been involved in out of home media on the African continent for quite some time. This means they already understand the industry, the business and what is required for future success. I have no doubt that this transaction has positioned Provantage to go to the next level and to really become a significant out of home media business within the next five years,” says Jacques du Preez, Managing Director of Provantage.

Zico also holds equity in Outdoor Network, which operates in South Africa and four other African markets. The future synergy between Provantage and Outdoor Network makes meaningful strategic sense and will position the group as a fast growing, innovative player in out of home media on the continent.

“Provantage is a leading out of home media agency at the helm of innovation and we are very excited to have partnered with a company of such professionalism, leadership and calibre. Strategically the partnership will add real value to our group and help us deliver consistent performance for our shareholders,” says Tshego Sefolo, CEO at Zico.