A rating of the top 150 most valuable brands in Africa has been released by Brand Finance, the world’s leading independent brand valuation and strategy consultancy, and South African companies took the lead.
The companies were drawn from 19 African countries, with the highest-ranked company from Nigeria, Africa’s most populous nation, listed at number 25.
South-African-owned companies such as MTN, Vodacom, First National Bank, ABSA and Old Mutual led the pack, making the top 5.
Here are the details of their valuation.
1. MTN Group: The Company which launched in 1994 has spread across the African continent and beyond, and it’s currently valued at $3.349 billion.
2. Vodacom: Established in 1994, Vodacom has a customer base of 289 million, with organizations in 42 countries using its business offerings. The company is currently valued at $2.052 billion.
3. First Nation Bank (FBN): The financial institution is one of South Africa’s top five banks and it’s a sub-division of the financial services conglomerate; First Rand Limited. FBN started in 1838 but became a solely South African-owned and controlled entity in 1987. The company’s current value is $1.617 billion which is a 5.8% drop from its $1.716 billion valuation in 2019.
4. ABSA: The Company is said to be the second most-valued bank in Africa and South Africa, with a brand valuation of $1.54 billion – a 2.5% drop from its $1.579 billion valuation in 2019.
Since 2008, ABSA has been consistently listed among the 500 most-valuable banking brands in the world.
5. Old Mutual: The insurance and investment company which has been in operation for 174 years is in 17 countries across Africa, Asia and Latin America, and valued at $1.375 billion. This current valuation is an increase of 16.4% from the company’s valuation in 2019 which was $1.182 billion.
The leading Nigerian company on the list was Globacom, which came after other South African companies like ShopRite, MTN and Tiger Brands were listed.
Other Nigerian companies listed were, Breweries at number 28, Dangote Cement at number 42, Zenith Bank at 45, Access Bank (51), United Bank of Africa (54), GT bank (58), First Bank (66), Hero Lager (76), Life Continental Lager (77), Star (95), Goldberg (104), Transaction Capital (116), Telmob (132), Fayrouz (134), and The Fix (135).