{"id":13251,"date":"2021-09-28T09:25:37","date_gmt":"2021-09-28T08:25:37","guid":{"rendered":"https:\/\/brandfinance.com\/?post_type=press-release&#038;p=13251"},"modified":"2021-09-28T11:19:18","modified_gmt":"2021-09-28T10:19:18","slug":"7-kenyan-brands-feature-in-ranking-of-africas-most-valuable","status":"publish","type":"press-release","link":"https:\/\/brandfinance.com\/press-releases\/7-kenyan-brands-feature-in-ranking-of-africas-most-valuable","title":{"rendered":"7 Kenyan Brands Feature in Ranking of Africa\u2019s Most Valuable"},"content":{"rendered":"\n<ul class=\"wp-block-list\"><li><strong>Total brand value of Africa\u2019s top 150 most valuable brands drops 12% from US$45.5 billion in 2020 to US$40.0 billion in 2021<\/strong><\/li><li><strong>7 Kenyan brands feature in ranking, accounting for 4% of cumulative brand value<\/strong><\/li><li><strong>Safaricom leads way as Kenya\u2019s most valuable and strongest brand<\/strong><\/li><li><strong>Kenyan banking sector bucks global trend, recording cumulative brand value rise of impressive 10%<\/strong><\/li><li><strong>MTN retains title of Africa\u2019s most valuable brand, brand value US$2.7 billion<\/strong><\/li><li><strong>Capitec Bank overtakes Vodacom as Africa\u2019s strongest brand, Brand Strength Index (BSI) score 89.2 out of 100<\/strong><\/li><\/ul>\n\n\n\n<p><a href=\"https:\/\/brandirectory.com\/rankings\/africa\" target=\"_blank\" rel=\"noopener\">View the full Brand Finance Africa 150 2021 report here<\/a><\/p>\n\n\n\n<p><strong>Top African brands lose US$5.5 billion in brand value<\/strong><\/p>\n\n\n\n<p>The total value of Africa\u2019s top 150 most valuable brands has declined by US$5.5 billion (12%) from US$45.5 billion in 2020 to US$40.0 billion in 2021, according to the latest <a href=\"https:\/\/brandirectory.com\/rankings\/africa\" target=\"_blank\" rel=\"noopener\">Brand Finance Africa 150 2021 report<\/a>.<\/p>\n\n\n\n<p>The COVID-19 pandemic has played a key role in the downturn in the brand value of Africa\u2019s top brands. Lockdown measures and travel bans were implemented throughout the year and across the continent, creating uncertainty and impacting brands\u2019 ability to do business as usual.<\/p>\n\n\n\n<p>Jeremy Sampson, Managing Director, Brand Finance Africa, commented:<\/p>\n\n\n\n<p><em>\u201cIn a year that saw most African countries go into lockdown and significant unrest across the continent, a decline in total brand value for the top African brands is unsurprising. Following the pandemic, African brands will need to search for opportunities to make up lost ground. By embracing new technologies and collaboration, the continent can propel its recovery and bounce back from the extraordinary situation the world has found itself in.\u201d<\/em><\/p>\n\n\n\n<p>Walter Serem, Regional Manager, East Africa, Brand Finance Africa, commented:<\/p>\n\n\n\n<p><em>\u201cKenya is still underrepresented in the Brand Finance Africa 150 ranking with only 7 brands making the cut, which account for just 4% of the total brand value. However, despite the pandemic impacting all brands, Kenyan financial services brands experienced some growth in brand value. If this trend continues, this sector could produce Kenya\u2019s next pan-African brand, following in Safaricom\u2019s footsteps \u2013 with its recent landmark acquisition of a joint license and successful launch into the Ethiopian market.\u201d<\/em><\/p>\n\n\n\n<p><strong>7 Kenyan brands feature in ranking<\/strong><\/p>\n\n\n\n<p>This year, 7 Kenyan brands feature in the <a href=\"https:\/\/brandirectory.com\/rankings\/africa\" target=\"_blank\" rel=\"noopener\">Brand Finance Africa 150 2021 ranking<\/a>, with a total brand value of US$1.4 billion \u2013 an 8% year-on-year decline. However, the country is now accountable for 4% of the overall value in the ranking, a marginal increase of 1% compared to 2020. This year sees three Kenyan brands make their debut appearances in the ranking, including one of the country\u2019s most popular beer brands, <strong>Tusker<\/strong> (brand value US$52 million) in 117<sup>th<\/sup> spot.<\/p>\n\n\n\n<p>South African brands dominate once again, with the entire top ten hailing from the nation. In total, 81 South African brands feature with a cumulative brand value of US$29.0 billion, equating to 73% of the total brand value in the ranking \u2013 a 15% decrease from last year.<\/p>\n\n\n\n<p>Nigeria is South Africa\u2019s closest competitor with 17 brands featuring, which account for 6% of the cumulative brand value in the ranking. <strong>33 Export<\/strong> (down 8% to US$292 million) is Nigeria\u2019s most valuable brand, sitting in 43<sup>rd<\/sup> in the overall ranking. This brand value decrease is in line with the trend seen for alcohol brands across the continent and the rest of the world with people going out and drinking less because of the pandemic.<\/p>\n\n\n\n<p>Morocco is the third most represented nation in the ranking, with 10 brands featuring, which account for 6% of the total brand value. Claiming 13<sup>th<\/sup> spot is <strong>Maroc Telecom<\/strong> \u2013 the highest ranked brand from outside South Africa \u2013 jumping five spots following a modest 1% rise in brand value to US$761 million. The telecoms brand was able to capitalize on the increased reliability on its services over the previous year and a half, with both work and social lives forced to turn online, managing to increase its customer base, seeing an uptick of 10% in broadband users.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1379\" height=\"776\" src=\"https:\/\/brandfinance.com\/wp-content\/uploads\/2021\/09\/Kenya-Picture-1.jpg\" alt=\"\" class=\"wp-image-13254\" srcset=\"https:\/\/brandfinance.com\/wp-content\/uploads\/2021\/09\/Kenya-Picture-1.jpg 1379w, https:\/\/brandfinance.com\/wp-content\/uploads\/2021\/09\/Kenya-Picture-1-450x253.jpg 450w, https:\/\/brandfinance.com\/wp-content\/uploads\/2021\/09\/Kenya-Picture-1-768x432.jpg 768w\" sizes=\"auto, (max-width: 1379px) 100vw, 1379px\" \/><\/figure>\n\n\n\n<p><strong>Safaricom retains Kenya\u2019s most valuable brand title<\/strong><\/p>\n\n\n\n<p><strong>Safaricom<\/strong> (brand value US$716 million) has retained the title of Kenya\u2019s most valuable brand. Despite falling three places to 15<sup>th<\/sup> and recording a 26% year-on-year drop in brand value, it is still streaks ahead of the next Kenyan brand, <strong>Kenya Commercial Bank<\/strong>, which sits in 56<sup>th<\/sup>.<\/p>\n\n\n\n<p>With traditional sources of revenue such as voice and SMS declining for telecos globally, Safaricom has expanded its revenue streams by acquiring the mobile money platform M-Pesa in a joint venture with <strong>Vodacom <\/strong>(brand value down 16% to US$1.7 billion).<\/p>\n\n\n\n<p>However, M-Pesa did not perform as well as anticipated with Safricom seeing a 6% decline in profit year-on-year. The total value of M-Pesa transactions grew by 33% but it was unable to capitalise on this. Transaction fees for payments of $9 or less were scrapped by order of the Central Bank of Kenya as part of the government\u2019s COIVD-19 relief efforts. The services popularity and the likely reintroduction of these transaction fees does stand Safaricom in good stead, however, to see future growth in this area and regain this year\u2019s lost brand value.<\/p>\n\n\n\n<p>In addition to measuring brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. According to these criteria, Safaricomis East Africa\u2019s strongest brand, with a Brand Strength Index (BSI) score of 68.3 out of 100 and a corresponding AA- brand strength rating.<\/p>\n\n\n\n<p><strong>Kenyan banking sector in the green<\/strong><\/p>\n\n\n\n<p>The Kenyan banking sector is in good health with three brands now featured in the ranking, including Kenya\u2019s fastest growing brand \u2013 Kenya Commercial Bank (brand value up 12% to US$209 million). <strong>Equity Group<\/strong> saw an 8% jump in brand value to US$202 million and moved up to the 60<sup>th<\/sup> spot and new entrant <strong>Co-Operative Bank of Kenya<\/strong> enters the ranking at 77<sup>th<\/sup> with a brand value of US$114 million.<\/p>\n\n\n\n<p>The sector saw a cumulative brand value growth of 10% year-on-year. These brands go against global trend in the banking sector where most have lost brand value. The three banks have all been involved in takeovers and acquisitions over the course of the year, improving their reputation and slowly expanding their footprints across the country and continent respectively.<\/p>\n\n\n\n<p><strong>MTN peaks again<\/strong><\/p>\n\n\n\n<p>South Africa\u2019s<strong> MTN<\/strong> has retained the title of Africa\u2019s most valuable brand, despite recording a 19% drop in brand value to US$2.7 billion. The telecoms giant dominates on home soil too, this year holding onto its decade-long reign as South Africa\u2019s most valuable brand, according to the <a href=\"https:\/\/brandirectory.com\/rankings\/south-africa\" target=\"_blank\" rel=\"noopener\">Brand Finance South Africa 50 2021 report<\/a>.<\/p>\n\n\n\n<p>It has been a turbulent year for MTN, however, with the brand facing several scandals from its money mobile services been hacked in Uganda, to being accused of price discrimination practices alongside telecoms rival and second-ranked Vodacom. MTN has also begun to scale down its operations, announcing its exit from the Middle East, in order to focus and build further across Africa.<\/p>\n\n\n\n<p>Despite this, according to the Brand Finance Global Brand Equity Monitor, MTN is ranked 3<sup>rd<\/sup> among consumers for \u201cPopularity with friends and family\u201d, 4<sup>th<\/sup> for \u201cCool\u201d and 4<sup>th<\/sup> for \u201cAccessible anywhere and anytime\u201d.<\/p>\n\n\n\n<p>With the recent appointment of Ralph Mupita to the helm as CEO, as well as the successful launch of its 5G network across major South African cities, MTN will hope to use these developments as a springboard to capture some of its lost brand value moving forward.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1379\" height=\"776\" src=\"https:\/\/brandfinance.com\/wp-content\/uploads\/2021\/09\/Kenya-Picture-2.jpg\" alt=\"\" class=\"wp-image-13255\" srcset=\"https:\/\/brandfinance.com\/wp-content\/uploads\/2021\/09\/Kenya-Picture-2.jpg 1379w, https:\/\/brandfinance.com\/wp-content\/uploads\/2021\/09\/Kenya-Picture-2-450x253.jpg 450w, https:\/\/brandfinance.com\/wp-content\/uploads\/2021\/09\/Kenya-Picture-2-768x432.jpg 768w\" sizes=\"auto, (max-width: 1379px) 100vw, 1379px\" \/><\/figure>\n\n\n\n<p><strong>Capitec Bank crowned Africa\u2019s strongest brand<\/strong><\/p>\n\n\n\n<p><strong>Capitec Bank <\/strong>has overtaken Vodacom to be crowned Africa\u2019s strongest brand, with a Brand Strength Index (BSI) score of 89.2 out of 100 and a corresponding AAA brand strength rating.<\/p>\n\n\n\n<p>According to the Brand Finance Global Brand Equity Monitor, Capitec is one of the five most reputable banking brands in the world. Reputation (and the main drivers of reputation) is highly correlated with brand consideration. Banks that outperform in reputation \u2013 by excelling in meeting customer needs \u2013 also outperform in brand consideration. Capitec scores extremely highly for both.&nbsp;<\/p>\n\n\n\n<p>Surpassing the 15 million client mark in December 2020, Capitec has more customers than any other South African bank, all of whom benefit from its excellent customer service and personalised banking experience. The pandemic increased the number of online shoppers to more than ever before - the banking brand responded by launching a virtual banking card, making online transactions easier and safer for its customers.<\/p>\n\n\n\n<p><a href=\"https:\/\/brandirectory.com\/rankings\/africa\" target=\"_blank\" rel=\"noopener\">View the full Brand Finance Africa 150 2021 report here<\/a><\/p>\n\n\n\n<p><strong>ENDS<\/strong><\/p>\n\n\n\n<p><strong>Note to Editors<\/strong><\/p>\n\n\n\n<p>The results of the Brand Finance Africa 150 2021 report will be presented at the IAA Africa Rising Leadership Conference being held on Tuesday 28<sup>th<\/sup> September at 10:45 BST. For more information or to register for the event please visit the Brand Finance events page <a href=\"https:\/\/brandfinance.com\/events\/iaa-africa-rising-leadership-conference\">here<\/a>.<\/p>\n\n\n\n<p>Every year, <a href=\"http:\/\/www.brandfinance.com\/\">Brand Finance<\/a> puts 5,000 of the biggest brands to the test, evaluating their strength and quantifying their value, and publishes nearly 100 reports, ranking brands across all sectors and countries. Africa\u2019s 150 most valuable brands are included in the <a href=\"https:\/\/brandirectory.com\/rankings\/africa\" target=\"_blank\" rel=\"noopener\">Brand Finance Africa 150 2021 report<\/a>.<\/p>\n\n\n\n<p>The full rankings, additional insights, charts, more information about the methodology, as well as definitions of key terms are to be found in the <a href=\"https:\/\/brandirectory.com\/rankings\/africa\" target=\"_blank\" rel=\"noopener\">Brand Finance Africa 150 2021 report<\/a>.<\/p>\n\n\n\n<p>Brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. Brand strength is the efficacy of a brand\u2019s performance on intangible measures relative to its competitors. Please see below for a full explanation of our methodology.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Total brand value of Africa\u2019s top 150 most valuable brands drops 12% from US$45.5 billion in 2020 to US$40.0 billion in 2021 7 Kenyan brands feature in ranking, accounting for 4% of cumulative brand value Safaricom leads way as Kenya\u2019s most valuable and strongest brand Kenyan banking sector bucks global trend, recording cumulative brand value [&hellip;]<\/p>\n","protected":false},"featured_media":4452,"comment_status":"closed","ping_status":"closed","template":"","tags":[27,178],"class_list":["post-13251","press-release","type-press-release","status-publish","has-post-thumbnail","hentry","tag-africa","tag-east-africa"],"acf":[],"_links":{"self":[{"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/press-release\/13251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/press-release"}],"about":[{"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/types\/press-release"}],"replies":[{"embeddable":true,"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/comments?post=13251"}],"version-history":[{"count":2,"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/press-release\/13251\/revisions"}],"predecessor-version":[{"id":13257,"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/press-release\/13251\/revisions\/13257"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/media\/4452"}],"wp:attachment":[{"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/media?parent=13251"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/tags?post=13251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}