Tuesday May 28, 2024
Mogadishu (HOL) — Brand Africa has released its 14th annual Brand Africa 100: Africa's Best Brands rankings, highlighting a consistent preference for non-African brands despite 64% of Africans expressing confidence in the continent's potential. African brands maintained only 14% of the top 100 most admired brands in Africa for the second consecutive year.
Global brands continue to dominate the rankings, with Nike, Adidas, Samsung, Coca-Cola, and Apple retaining their top five positions for the fifth consecutive year. Many non-African brands, such as Coca-Cola, Pepsi, Samsung, Lacoste, Total Energies, and Guinness, are mistakenly recalled as African brands by respondents.
European brands hold 37% of the top 100 spots, while North American brands have seen a decline to 28%. In contrast, Asian brands have increased their presence, capturing 21% of the African market.
MTN Group is celebrating its retention of the top spot in the Brand Africa 100 rankings. This recognition coincides with Africa Day, celebrated annually on May 25. MTN Group President and CEO Ralph Mupita expressed gratitude, saying, "This Africa Day, we take heart from this accolade and thank our partners for their support. MTN is committed to leveraging digital capabilities for a sustainable future and fostering partnerships to drive meaningful change."
MTN operates in 17 countries across Africa and was recently named the most valuable South African brand by Brand Finance, with a brand value of $3.6 billion.
Among the other African brands that stand out are Nigeria's Dangote, Zambia's Trade Kings and Ethiopian Airlines.
Leading the African brands are:
- MTN Group (South Africa) – Telecommunications
- Dangote (Nigeria) – Conglomerate
- Trade Kings (Zambia) – Consumer Goods
- Glo (Nigeria) – Telecommunications
- DStv (South Africa) – Media
- Ethiopian Airlines (Ethiopia) – Aviation
South Africa and Nigeria dominate this list, each contributing five brands, while Ethiopia, Zambia, Zimbabwe, and Tanzania each have one brand represented.
Despite the current preference for global brands, Brand Africa founder and chairman Thebe Ikalafeng remains optimistic. "As nations create an enabling environment for African entrepreneurs and the AfCFTA opportunity is realized, the share of African brands will increase," he said.