While MTN has advanced to become the most admired and most valuable brand in Africa within the Brand Africa 100 list, toppling Coca-Cola, 77% of the continent’s top 100 brands are foreign. By Ujuh reporter
The foreign domination “needs to change if we are to own our future and to ensure we own our markets and capture the profits emanating from these,” says Omar Ben Yedder, African Business Group Publisher.
Yedder was speaking at the launch of the Report at 4th Annual Brand Africa 100: Africa’s Best Brands Gala Dinner in Johannesburg.
Positioned as Africa’s largest mobile phone base telecoms services provider, MTN moved up one position to become Africa’s most admired brand and maintained its rank as the most valuable African brand.
Samsung, number three on the list in 2014, jumped to number two, while Coca Cola, the most admired brand in 2014, dropped to the third most admired brand.
While the scope of Brand Africa 100 has broadened from eight countries in 2014 to 22 in 2015, the established non-African brands and their African challengers have maintained their positions in the hearts and wallets of African consumers.
It is no longer South Africa that dominates African brand recognition and Nigeria is now the country with the most brands in the top 100, up from 5 to 11. This year, the data set were asked to select their most admired financial services brands, which was headed by First Bank of Nigeria. The top Nigerian brand is telecoms giant Glo. Tusker Beer achieves the title of Top Kenyan Brand. In the most admired media brands, BBC came top, ahead of CNN. Consistent with the various global brand leagues, Apple is the dominant valuable brand – in Africa as it is everywhere.
The report says with Africa accounting for four of the 10 fastest growing economies in the world according to the 2014 World Bank growth rate data, the scope and market for building and growing African brands is great – both for African brands and non-African brands that can authentically adapt to and respond to African needs, conditions and ambitions. Now, more than ever, is the time for Made in Africa solutions.
Brand Africa’s founder and Brand Finance Africa’s chairman, Thebe Ikalafeng, has called for more government protectionism in order to reverse the trend where international brands dominate the Top 100 ranking.