BRAND VALUATION

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

By our News Team | 2023

South African brands again dominate the latest Brand Finance Africa-wide study, but several Kenyan brands put in a strong showing.

While South African brands continue to dominate the continent in terms of brand value – they occupy all top 10 spots in the latest Brand Finance Africa 200 report released last week – Kenya’s Safaricom (brand value up 14% to US$710-million) is the most valuable brand from outside South Africa listed in the ranking.

Over the past year, Safaricom has achieved revenue growth, while also growing its Ethiopian operation, a market it hopes it can expand to reach the level of its Kenya operation within 10 years.

Brand Valuation

Illustration courtesy of Safaricom

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).
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    Dr Kin Kariisa

    Group CEO - Next Media

    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.