Samsung has been named as the Most Admired Brand in Africa, unseating MTN from the position.
However, MTN is still the Most Admired African Brand, according to the Top 100 brands in Africa report by African Business magazine in partnership with Brand Africa, Brand Finance, GeoPoll and Kantar TNS.
Despite its recent crisis with its Galaxy Note 7 model, which notably was never launched in Africa, Samsung scooped the top spot as the Most Admired Brand in Africa.
MTN retained its ranking as the Most Admired African Brand despite challenges particularly in Nigeria.
There has been a notably fall-off in the number of African brands in the Top 100 this year, with just 16 African brands listed, compared to 25 two years ago. In fact, non-African brands dominate the top three brands in the 19 markets surveyed.
African brands account for only 0,75% of the value of the Top 100 Most Valuable brands. That is in line with Africa having just 0,6% of the trademarks filed globally, and R&D investments of less than 1%.
Nigeria’s GTBank was named as the Most Admired Brand in Financial Services in Africa, with Barclays retaining its position as the top non-African financial services brand.