Facebook, Inc. (FB) just declared a big push to monetize its next billion users: It’s opening an ad sales office in Johannesburg, South Africa. Businessinsider
Facebook has 120 million users in Africa, with 80 percent of those users connecting via mobile devices. Africa is a mobile-first continent, with many people accessing the internet using feature phones.
The company has been steadily increasing its African audience thanks in part to the efforts of Internet.org, the Facebook-led non-profit that works with local cellular carriers to make select services — including, of course, Facebook — free or cheaper to use for people in different parts of the world.
“This new office is a significant milestone for Facebook and our teams want to partner with businesses across the continent,” Facebook’s VP of Europe, the Middle East, and Africa (EMEA) said in a statement about the opening. “Africa is important to Facebook, and this office is a key part of our strategy to expand our investment and presence across EMEA.”
Facebook has been working with big brands, including Coca-Cola in Kenya and Virgin Mobile in South Africa, to create native ads tailored towards those audiences. Coke’s Facebook campaign was designed to remind users of things that make Kenya great, with photos and the hashtag #KenyanHappiness. Facebook partnered with Nielsen to measure the impact of those ads and found that compared to similar campaigns, ad recall increased by 18 percent and users who saw the ads were 64 percent more likely to buy a Coke. Virgin Mobile’s ad campaign, which was specifically designed for low-tech feature phones, reached more than 3 million people and ad recall increased by 11 percent. Cnbc
“Our mission will be to connect brands and consumers in Africa, creating value for all parties in the process,” said Kesisoglu.
GE (NYSE:GE) declared that it has reached a contract to sell its U.S., Mexico, Australia and New Zealand fleet businesses to Element Financial Corporation (EFN.TO) for US$6.9 billion. Separately, GE has signed a memorandum of understanding for the potential sale of its European fleet businesses to Arval, a fully owned subsidiary of BNP Paribas. Arval and GE will now consult with their respective works councils. The transactions’ completion will also be subject to customary regulatory and other local corporate or antitrust approvals.
“We continue to demonstrate speed and execution on our strategy to sell most of the assets of GE Capital,” said Keith Sherin, GE Capital chairman and CEO. “We are on track to execute sales of US$100 billion by the end of 2015 and expect to be substantially done by the end of 2016,” he added.
GE Capital Fleet Services provides commercial car and truck financing and fleet management services, with more than 1.5 million leased, serviced and managed vehicles around the world. Element Financial Corporation is one of North America’s premier fleet management and equipment finance companies. GE Capital sold its Canadian fleet business to Element in 2013. BNP Paribas, through its fully owned subsidiary, Arval, specializes in full service vehicle leasing in 25 countries and in 14 other countries through a network of partners, including a global alliance with Element. Excluded from the transactions is GE Capital’s fleet business in Japan.
“Both Element and Arval are invested in and committed to growth in the fleet industry and our customers will benefit from their strength and expertise,” said Sherin.
General Electric Company (GE) operates as an infrastructure and financial services company worldwide. The companys Power and Water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment. Its Oil and Gas segment provides surface and subsea drilling and production systems, equipment for floating production platforms, compressors, turbines, turboexpanders, reactors, industrial power generation, and auxiliary equipment.
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