Despite optimism with the progress of AfCFTA and other initiative to drive African initiatives, African brands regressed 20% from a 10-year high of 17% to 14% share of the Top 100 most admired brands in Africa
Stalwart African brand MTN dropped out of the Top 10, while all African brands lost ground, except Zambia’s Trade Kings, the highest African mover and new at #38.
This was the finding of the Brand Africa release of the 13th list of the most admired brands in Africa.
Europe, led by Adidas at #2, has grown its share of the most admired brands in Africa to 37%, ahead of North America at 32% led by Nike, the #1 brand for the 5th consecutive year, and Asia which retains its 17% share led by Samsung, the #3 brand for the 3rd consecutive year.
“It is concerning that despite the momentum in operationalising the AfCFTA, rising internal pride in continent albeit against global economic challenges, that African consumers have reverted to their trusted, mostly non-Africa brands, rather than give African brands a chance,” says Thebe Ikalafeng, the founder and chairman of Brand Africa.
“Nonetheless, this is the state of brands in Africa, and an urgent need to build trust in Made in African brands.”
The survey and rankings, conducted by Geopoll, Kantar and Brand Leadership, is across 32 African countries that account for more than 85% of the continent’s GDP and population.
Karin Du Chenne, chief growth officer Africa Middle East for Kantar, which has been the insight lead for Brand Africa since inception in 2010 says, “despite the increased countries and sample sizes which have invariably grown the volumes of brands analysed, the survey continues to yield a very consistent picture of the leading brands in the continent, albeit not yet to Africa’s advantage.”
Nike most admitted brand
The most admired brand in Africa is Nike, retaining its number one spot for the fifth consecutive year.
Unicef is the #1 NGO, Coca Cola the #1 non-African brand and MTN the #1 African brands recognised for doing good for society. MTN and Dangote remain the most admired African brands, with Standard Bank surgeing to the #1 most admired financial services brand while DSTV retains ranking as the most admired media brand.
Highlights of the report
- In a new category of brands that are doing good for people, society and the environment, inspired by business shifting from profit to purpose, Unicef emerged as the #1 NGO, Coca Cola the #1 non-African brand and MTN the #1 African brands.
- In a category specific ranking of the Top 25 financial services brands, Africa’s oldest banking group, Standard Bank surged to the #1 most admired brand in Africa, displacing GTBank, which had led the rankings for the past 3 years, but is reeling from recent UK regulatory issues, service challenges and a tough competitive environment. The category is dominated by South African (6) and Nigerian (6) brands which account for 48% of the rankings, with the US (4), led by VISA, at 16% percent, making up 64% of the Top 25 brands.
- In a category specific ranking of the Top 25 media brands, DStv, the consumer brand of the Multichoice Group, retains its dominant ranking ahead of BBC and CNN as the most admired media brand in Africa. Consistent with previous rankings, non-African media dominate the continent, accounting for 76% of the Top 25 brands.
- MTN is the #1 most admired African brand in the Top 100 brands recalled spontaneously, while Dangote has retaken the lead as the #1 most admired brand when respondents are prompted to recall an African brand specifically.
- Fifteen percent of the Top 100 brands are new entrants, led by US’s Oral B the highest mover at #34, Zambia’s Trade Kings at #38 and the US’s Jordan at #42.
The Brand Africa 100 | Africa’s Best Brands research took place between February and and covered 32 countries across all economic regions in the continent.
The 2023/24 research is once again being conducted by Brand Africa partners, Geopoll covered sub-Sahara Africa, Analysis, a Kantar affiliate in Mauritius covered the sub-Sahara Islands, and Morocco’s Integrate, an affiliate of Kantar covered North Africa. Kantar and Brand Leadership produced the rankings, while the Brand Africa Scientific Committee convened to review, analyse and validate the results.
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