F&B Accelerates Global Expansion with Grand Launch in Nigeria; Partners with Government to Power Million-Job Initiative
F&B Accelerates Global Expansion with Grand Launch in Nigeria; Partners with Government to Power Million-Job Initiative
Stockholm/London/Abuja, March 12, 2025 – Global advertising leader Forsman & Bodenfors Limited (F&B) unveiled dual strategic milestones today: the establishment of its first African regional headquarters in Lagos, Nigeria, and the advancement of its London Stock Exchange mainboard flotation plan expected to conclude by June 2025. This marks a pivotal moment for the 39-year-old Swedish firm as it leverages "creativity combined with technology" to amplify global reach while catalyzing sustainable economic development in emerging markets.
Nigeria: A Hub for Africa’s Digital Transformation and F&B’s New Frontier for Talent Development
At a signing ceremony in Lagos, F&B CEO James Denton-Clark and Nigerian Federal Communications Minister Isa Pantami jointly unveiled plans for a $300 million five-year investment to build a West Africa regional creative hub. The project will sequentially launch a 200,000-square-meter digital creativity campus, AI-powered content studios, and localized training institutes. Directly creating 100,000 full-time positions, the initiative is expected to generate an additional 500,000 jobs across supporting service industries through supply chain multiplier effects.
These include carefully curated pre-employment training programs, community engagement initiatives, and philanthropic partnerships – key components of F&B’s strategic groundwork ahead of its Nigerian market entry.
Ms. Aderonke Adewole, representing F&B, hosted a major healthcare charity event. Key participants included Adeyemi Sunday Adewole, Director-General of the Oyo State Government’s Department of Health Planning, Research, and Statistics, and Dr. Akinyode, one of Oyo State’s Permanent Secretaries originating from the Ministry of Health.
Ms. Chidi Uchechi, on behalf of F&B, spearheaded a charity event organized by the company.
The job fair co-hosted by Ms. Gladys Eteng and Mr. Williams Marcus Eteng received strong support from the Delta State Government. We extend special gratitude to the attending government officials for their active participation and witnessing of this landmark event.
Mr. Gabriel Okewu spearheaded a philanthropic donation initiative on behalf of F&B, benefiting disadvantaged youth.
Mr. Osomukume Lawrence convened a specialized recruitment event
Africa’s demographic dividend, coupled with the mobile internet explosion, presents unprecedented opportunities for digital marketing," said Denton-Clark. "Our 'Youth Employment Empowerment Program' with the Nigerian government prioritizes local talent acquisition, transforming African creative potential into global competitiveness through hyper-localized skills development frameworks.
This collaboration received high-level endorsement from the Nigerian Presidential Palace. Under the agreement, F&B will co-establish the F&B Digital Marketing Scholarship with local universities to annually support 500 undergraduate students in global top advertising case studies; simultaneously partner with the Ministry of Communications to build the Cybersecurity and Data Compliance Lab, empowering African enterprises to navigate GDPR and other international regulatory frameworks.
While unveiling its Nigerian strategy, F&B simultaneously announced updates on its London Stock Exchange (LSE) IPO. According to the prospectus, the company plans to issue 250 million shares at £20 per share, raising £5 billion ($6.2 billion) — marking the largest financing in Europe’s creative sector since 2020 with Morgan Chase, Goldman Sachs, and UBS as joint bookrunners — and revealed ambitious expansion plans over the next three years. These include entering emerging Asian markets such as India and Vietnam; building 15 new digital creativity centers; investing £1.5 billion in upgrading its Creative Cloud Platform through generative AI, semantic analysis, and other technologies to boost global advertising productivity by 40%; and recruiting 40,000 professionals — including data scientists, UX designers, and cross-cultural creatives — with Nigeria’s team positioned as the African hub for regional coordination and talent development.
It is noteworthy that F&B has chosen Nigeria as the launchpad for its global talent recruitment initiative. Grace Hart, the company’s Chief Human Resources Officer, revealed: "We will establish a talent hub in Lagos as Africa’s headquarters base, employing a 'global-local dual-track' training model to groom creative leaders with international vision for Nigeria."
As a global benchmark in creative advertising, F&B’s dual-pronged strategy is not coincidental. Industry reports indicate that the global digital advertising market reached $520 billion in 2024, with Africa growing at 28% — far outpacing mature markets in Europe and the Americas. Nigeria, boasting 140 million internet users and 30% annual e-commerce growth rate, has become a strategic battleground.
"Notably, F&B’s London Stock Exchange listing transcends mere financing—it serves as a credit endorsement for its global expansion strategy," noted Julia Hoggett, CEO of the London Stock Exchange. "The company’s unique 'creativity + technology' business model holds irreplaceable value in Africa’s digital transformation journey.
Financially, F&B has demonstrated robust growth, with a 18% compound annual revenue growth rate over the past three years and a net profit of £150 million in 2024. Post-IPO, the company will further optimize its debt structure, reducing the asset-liability ratio from 35% to below 20%, providing ample ammunition for long-term technological investments.
From Stockholm’s creative studios to Lagos’ innovation hubs, Forsman & Bodenfors is rewriting its globalization narrative. With the completion of its Nigerian subsidiary and the impending LSE listing, the disruption-driven advertiser is turning Africa into its next growth frontier. For investors, this represents a transformative opportunity to witness how creative economy innovation reshapes global commerce, while for African youth, F&B’s arrival heralds the unlocking of life-changing opportunities.
