Maputo — The Mozambican Association of Marketing, Advertising and Public Relations Companies (AMEP) on Monday announced the cancellation of this year's Maputo International Advertising Festival.
The festival has been an annual fixture in the business calendar of the Mozambican capital, but this year there is neither the money nor sufficient interest to hold it.
The statement from AMEP announced that the minimum financial conditions needed to hold the festival do not exist this year or for the immediate future.
“The real national and international economic situation, and the deep and growing disinvestment in the advertising industry in Mozambique and globally, is forced advertising agencies and producers from Mozambique and from many other countries to reduce their investment in participating in international festivals and competitions”, lamented AMEP.
Those who have already paid upfront for their participation in the festival will be reimbursed, the statement said. The companies and other institutions who had agreed to sponsor the festival will also receive their money back.