- The Marketing, Advertising, and Communications Charter Fund (MACC Fund) has been established by the MAC Sector Council and eQvest.
- The fund will drive sustainable development and entrepreneurship in the local advertising, communication, marketing and public relations sectors.
- The fund is said to be powerful tool that will advance diversity, equity and inclusion in the media sector.
The Marketing, Advertising and Communications (MAC) Sector Council and eQvest announced a new initiative in the Marketing, Advertising, and Communications Charter Fund (MACC Fund).
This fund will push investment toward the MAC Sector Council’s mandate to drive transformation and development of the local advertising, communication, marketing and public relations sectors. eQvest is a crowdfunding platform that helps locals invest in media, entertainment, energy and artificial intelligence among others.
Through eQvest South Africans can invest in all aspects of the local media sector from billboards to music to books.
The collaboration between the MAC Sector Council and eQvest then makes sense and hopefully we’ll see some real evolution in the media sector. That does seem to be the goal with the council stating that the fund will be used to support marginalised communities, promote entrepreneurship and drive sustainable development.
“This partnership between the MAC Sector Council and eQvest Limited marks a significant milestone in our collective efforts to drive positive change within the industry. The MACC Fund represents a powerful tool for advancing diversity, equity, and inclusion, and we are excited to see the impact it will have on the sector,” says chairperson of the MAC Sector Council, Angelo Tandy.
It’s great to see the public and private sector collaborating in this way. Combining the insight from a government entity and a private company can lead to great results, especially if the end goal is to empower as many people as possible and drive change in a particular sector. Given how cut-throat the advertising sector can be, we’re watching this partnership with a keen eye.
“We are thrilled to partner with the MAC Sector Council in launching the MACC Fund, this initiative underscores our shared commitment to driving positive change and fostering innovation within the media, advertising, and communications industry. Together, we will work towards a more inclusive and equitable future,” chief executive officer at eQvest, Nathaniel Bricknell said in a statement.
Whether this collaboration will drive the change it hopes to achieve remains to be seen. The unfortunate truth is that advertising, marketing, public relations and media are all incredibly competitive industries and initiatives like this have been necessary for a long while.
