Despite optimism with the progress of African Continental Free Trade Agreement (AfCFTA) and other initiatives 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.
This is according to Brand Africa’s 13th list of the most admired brands in Africa based on a survey and rankings conducted by Geopoll, Kantar and Brand Leadership, across 32 African countries that account for more than 85% of the continent’s GDP and population.
Stalwart African brand MTN dropped out of the Top 10, and all African brands lost ground, except Zambia’s Trade Kings, the highest African mover and new at number 38.
Europe, led by Adidas at number two, has grown its share of the most admired brands in Africa to 37%, ahead of North America at 32% led by Nike, the top brand for the fifth consecutive year; and Asia which retains its 17% share led by Samsung, the number three brand for the third consecutive year.
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 top NGO, Coca Cola the number one non-African brand and MTN the top African brand.
In a category-specific ranking of the Top 25 financial services brands, Africa’s oldest banking group, Standard Bank surged to the top most admired brand in Africa, displacing GTBank, which had led the rankings for the past three years, but is reeling from recent UK regulatory issues, service challenges and a tough competitive environment.
This category is dominated by South Africa (six brands) and Nigeria (six brands), which account for 48% of the rankings. The US (four brands), led by Visa at 16% percent, makes up 64% of the Top 25 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 most most admired African brand in the Top 100 brands recalled spontaneously, while Dangote has retaken the lead as the 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 number 34, Zambia’s Trade Kings at number 38 and the US’s Jordan at number 42.
“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.”
Bernard Okasi, director of research at GeoPoll, comments: “With an ever increasing number of countries, greater sample size, and the growth of mobile across the continent, more than ever, using mobile continues to prove to be an effective tool to reach and access respondents across the continent.”
Karin Du Chenne, chief growth officer: Africa Middle East at Kantar, 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.”
The Brand Africa 100 Africa’s Best Brands research took place between February and covered 32 countries across all economic regions in the continent. The 2023/24 research was 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.