Kenya’s Safaricom is the most valuable non-SA brand, study finds

Safaricom Ethiopia has already penetrated approximately 10% of the population, a positive sign of the uptake for its services from customers in the region.

Safaricom also has the highest Sustainability Perceptions Score, at 6.46 out of 10.

“The brand has particularly focused on leveraging its connectivity, platforms, and technology to partner with others and realise its strategy of transforming Safaricom into a purpose-led organisation by 2025,” Brand Finance says in its analysis.

Fastest-growing African brand

Egyptian brand Aman is the fastest growing African brand, up 244% year-on-year to $54-million.

The Fintech brand has diversified its offering to include micro-finance, consumer finance, small and medium-sized enterprises finance, e-payments and a new saving service; ‘Aman Day-by-Day’.

This improved line-up has contributed to the brand’s increased revenue forecast and 17-point Brand Strength Index score increase, both contributing to its exponential brand value growth.

Strongest African brands in 2023

South African brands also don’t have it all their own way when it comes to the Strongest African Brands in 2023.

Kenyan-based Equity Bank is ranked fourth in this category. Apart from being prominent in Kenya, it has operations in Tanzania, Uganda, Rwanda, DRC and South Sudan.

KCB Bank, also operating out of Kenya, is eighth in this category. Its pan-African presence includes Burundi, Rwanda, South Sudan, Tanzania, Congo and Uganda.

The Top 10 Most Valuable African Brands, according to the Brand Finance Africa 200 study are (all from South Africa):

1. MTN (telecoms).
2. Vodacom (telecoms).
3. Standard Bank (banking).
4. First National Bank (banking).
5. Absa Bank (banking).
6. Woolworths (retailing).
7. Spar (retailing).
8. Nedbank (banking).
9. Investec (financial services).
10. Mondi (packaging and paper).