{"id":13258,"date":"2021-09-28T09:28:01","date_gmt":"2021-09-28T08:28:01","guid":{"rendered":"https:\/\/brandfinance.com\/?post_type=press-release&#038;p=13258"},"modified":"2021-09-28T11:19:50","modified_gmt":"2021-09-28T10:19:50","slug":"17-nigerian-brands-feature-in-ranking-of-africas-most-valuable","status":"publish","type":"press-release","link":"https:\/\/brandfinance.com\/press-releases\/17-nigerian-brands-feature-in-ranking-of-africas-most-valuable","title":{"rendered":"17 Nigerian 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>Nigeria is second most represented nation \u2013 behind South Africa \u2013 in <\/strong><a href=\"https:\/\/brandirectory.com\/rankings\/africa\" target=\"_blank\" rel=\"noopener\"><strong>Brand Finance Africa 150 2021 ranking<\/strong><\/a><strong> with 17 brands featuring and accounting for 6% of total brand value<\/strong><\/li><li><strong>33 Export is nation\u2019s most valuable brand and sits in 43<sup>rd<\/sup> in overall ranking<\/strong><\/li><li><strong>Access Bank is Nigeria\u2019s fastest growing brand, brand value up 8%<\/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>. &nbsp;<\/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><a href=\"https:\/\/brandfinance.com\/profile\/tunde-odumeru\"><em><\/em><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/brandfinance.com\/profile\/tunde-odumeru\">Babatunde Odumeru<\/a>, Managing Director, Brand Finance Nigeria, commented:<\/p>\n\n\n\n<p><em>\u201cJust 17 Nigerian brands feature in the Brand Finance Africa 150 2021 ranking and contribute 6% of the total brand value. As is the case with many brands across the continent, Nigeria\u2019s top brands are not yet truly Pan-African, so although their performance may be solid on home soil, they are failing to translate this internationally. We are witnessing some brands make strides towards expanding their footprints, should they do so successfully we could see a greater uplift in brand value, as well as more Nigerian brands featuring in the ranking.\u201d<\/em><\/p>\n\n\n\n<p><strong>17 Nigerian brands feature in ranking<\/strong><\/p>\n\n\n\n<p>Behind South Africa, Nigeria is the second most represented nation in the Brand Finance Africa 150 2021 ranking with 17 brands featuring and accounting for 6% of the total brand value. <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>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 - a 15% decrease from last year.<\/p>\n\n\n\n<p>MTN and Vodacom lead the way, with <strong>First National Bank<\/strong> (brand value US$1.3 billion), <strong>Old Mutual<\/strong> (brand value US$1.3 billion) and <strong>Standard Bank<\/strong> (US$1.3 billion) completing the top five. In total, there are only 19 of the continent\u2019s 54 countries with brand representation in the ranking.<\/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\/Nigeria-Picture-1.jpg\" alt=\"\" class=\"wp-image-13259\" srcset=\"https:\/\/brandfinance.com\/wp-content\/uploads\/2021\/09\/Nigeria-Picture-1.jpg 1379w, https:\/\/brandfinance.com\/wp-content\/uploads\/2021\/09\/Nigeria-Picture-1-450x253.jpg 450w, https:\/\/brandfinance.com\/wp-content\/uploads\/2021\/09\/Nigeria-Picture-1-768x432.jpg 768w\" sizes=\"auto, (max-width: 1379px) 100vw, 1379px\" \/><\/figure>\n\n\n\n<p><strong>Access Bank is nation\u2019s fastest growing<\/strong><\/p>\n\n\n\n<p><strong>Access Bank <\/strong>is Nigeria\u2019s fastest growing brand, following an 8% increase in brand value to US$262 million \u2013 growth that has bucked the global trend for the banking sector this year.<\/p>\n\n\n\n<p>Access Bank has celebrated strong revenue growth over the previous year and has made some strides towards its expansion plans, through completing acquisitions across Zambia and Kenya. The bank shows no signs of slowing down with plans underway to enter the South African market through its investment in Grobank \u2013 a key part of the bank\u2019s wider mission to become \u2018Africa\u2019s Gateway to the World\u2019.<\/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 <strong>Vodacom <\/strong>(brand value down 16% to US$1.7 billion). 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.&nbsp;<\/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\/Nigeria-Picture-2.jpg\" alt=\"\" class=\"wp-image-13260\" srcset=\"https:\/\/brandfinance.com\/wp-content\/uploads\/2021\/09\/Nigeria-Picture-2.jpg 1379w, https:\/\/brandfinance.com\/wp-content\/uploads\/2021\/09\/Nigeria-Picture-2-450x253.jpg 450w, https:\/\/brandfinance.com\/wp-content\/uploads\/2021\/09\/Nigeria-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>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, <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 Nigeria is second most represented nation \u2013 behind South Africa \u2013 in Brand Finance Africa 150 2021 ranking with 17 brands featuring and accounting for 6% of total brand value 33 Export is [&hellip;]<\/p>\n","protected":false},"featured_media":4452,"comment_status":"closed","ping_status":"closed","template":"","tags":[27,28],"class_list":["post-13258","press-release","type-press-release","status-publish","has-post-thumbnail","hentry","tag-africa","tag-nigeria"],"acf":[],"_links":{"self":[{"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/press-release\/13258","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=13258"}],"version-history":[{"count":3,"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/press-release\/13258\/revisions"}],"predecessor-version":[{"id":13265,"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/press-release\/13258\/revisions\/13265"}],"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=13258"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/tags?post=13258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}