A new study conducted by Brand Africa as part of its latest Africa 100 report has revealed the list and rankings of Africa’s best brands....For More CONTINUE THE FULL READING▶▶
According to the report, even though 64% of Africans said they have faith in the continent, they still show loyalty to brands that are based outside of it.
The top five countries that are seen to improve Africa are South Africa, Nigeria, the United States, China, and Kenya.
Most admired brands
The results showed that the top five most admired African brands are still South African telecommunications group, MTN; Nigerian conglomerate, Dangote; Zambian consumer group, Trade Kings; Nigerian telecommunications group, Glo; South African payTV, DStv; and Ethiopian Airlines.
The report also stated that six nations accounted for 14% of the African component of the ranking: South Africa and Nigeria each received five points, while Ethiopia, Zambia, Zimbabwe, and Tanzania each received one point.
According to the research, Asia increased its stake by 23.5% to take up 21% of the African market, while Europe maintained its 37% share of the Top 100. North America saw a fall in its proportion from 12.5% to 28%.
Nike, Adidas, Samsung, Coca-Cola, and Apple are the top five most admired companies in Africa, and they have all held their ranks for the past five years, according to the report.
The report noted: “In an interesting insight, affirming how entrenched non-African brands are in Africa, many such as Coca-Cola, Pepsi, Samsung, Lacoste, Total (Energies) and Guinness are mistakenly recalled among the most admired ‘African’ brands when the question is asked, ‘What African brands do you admire?”
The most admired non-governmental organizations are UNICEF and the UN.
The most admired non-African organization is Coca-Cola, while the most admired African brand is MTN.
Thebe Ikalafeng, founder and chairman of Brand Africa, said: “While the share of African brands remains a disappointing 14%, with Africans overwhelmingly believing that mostly Africa will contribute to a better Africa, as nations continue to create an enabling environment for African entrepreneurs and the AfcFTA opportunity is realized, it’s just a matter of time, but ultimately the share of African brands will increase.”
Report shows fastest-growing companies in Africa
Legit.ng also reported that the Financial Times released a new ranking of the fastest-growing companies in Africa. Many African economies are struggling to recover from the COVID-19 pandemic.
According to the report, the International Monetary Fund said Africa’s economy grew by 3.2% in 2023, lower than in Asia, where the economy grew by almost 5%.
In its expanded report on companies in Africa, FT said Nigeria ranked second with the fastest-growing companies on the continent, after South Africa, which parades the highest number of companies on the list.…Continue The Full Reading.>’.
