WPP increases foothold in Africa

(ShareCast News) - WPP said its operating company Burson-Marsteller has acquired a stake in its Kenyan affiliate, Engage Burson-Marsteller. Headquartered in Nairobi, Engage Burson-Marsteller has grown rapidly since Burson-Marsteller helped to establish it in 2013, to employing around 20 people and having Clients like Nestlé, MultiChoice, Samsung and CNN.The acquisition further strengthens Burson-Marsteller's network of partners in Africa and continues WPP's strategy of investing in important markets and sectors, the company said.In Kenya, WPP's companies generate revenues of almost $50m and employ almost 1500 people. Across the continent, the group collectively generates revenues of over $600m and employs almost 35,000 people.WPP's public relations and public affairs companies collectively generate revenues of over $1.6bn and employ almost 10,000 people worldwide.The share price rose 1.22% to 1,744p at 1223 GMT on Friday.