Shaka Sisulu acquires a 51% Stake in Creative Digital Agency, Retroviral Digital Communication
Entrepreneur, Shaka Sisulu has announced that he has acquired a 51% stake in creative digital agency, Retroviral Digital Communications, becoming its BEE partner in his personal capacity, a development that raises Retroviral’s empowerment status to BBBEE Level 2.
Sisulu’s own social and digital agency, Plum, has been collaborating with Retroviral since 2011. “With me becoming a shareholder of Retroviral, the two businesses will work in tandem. It is our vision to grow our combined revenues from around R30m to over R100m in five years through this alliance,” says Sisulu.
“The partnership with Retroviral unlocks significant synergies with many of my other operations, in particular, Plum, a leading digital and social media agency with solutions deployed in many of South Africa’s blue-chip corporates.
“Retroviral has established a significant track record for delivering innovative solutions to blue-chip companies and specialises in creating and implementing not only award-winning campaigns but solutions that meet their customers’ business objectives, to enhance sales. With this partnership, Mike and I are well positioned to further entrench Retroviral’s leadership position”, add Sisulu.
Mike Sharman, co-founder, CEO and chief creative strategist of Retroviral, says the transaction is not a BEE marriage of convenience. “Shaka brings diversity into Retroviral’s ownership structure, but this is no superficial empowerment deal. We are bringing two disruptor agencies closer together in order to continue producing award-winning work. Shaka and I share the same vision and have only the greatest respect for each other.”
A new board for Retroviral is in the process of being appointed. Sisulu will serve as executive chairman and Sharman will continue as company CEO. Sharman also retains 49% ownership.