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Only 14% Of Africans Are Loyal To African Brands

BY Soko Directory Team · May 28, 2024 11:05 am

Despite 64% of Africans expressing confidence in the continent, they remain loyal to non-African brands, which have retained their lowly 14% of the most admired brands in Africa,  Brand Africa revealed in its 14th annual Brand Africa 100:  Africa’s Best Brands research and rankings.

African nations account for 64% of the Top 50 most admired countries, with South Africa, Nigeria, the United States, China, and Kenya as the top 5 countries perceived to contribute to a better Africa.  All members of the newly expanded 9-member BRICS block, except Iran, made the list, that is dominated by Southern and West Africa which account for 44% of the Top 50 nations Africans admire globally.

African brands have retained a 14% share of the Top 100 most admired brands in Africa for the second year in a row. African brands, led by South African telecommunications group, MTN, Nigerian conglomerate, Dangote, Zambian consumer group, Trade Kings, Nigerian telecommunications group, Glo, South African media group, DStv and Ethiopian Airlines retain their respective positions as the Top 5 most admired African brands spontaneously recalled.

South Africa (5) and Nigeria (5), with Ethiopia (1), Zambia (1), Zimbabwe (1) and Tanzania (1), are the only 6 African nations that make up the 14% share of the Top 100.  Europe retained its 37% share of the Top 100, while North America declined 12,5% to 28% as Asia grew its share by 23,5% to capture 21% of the African market.

Nike, Adidas, Samsung, Coca Cola and Apple have all retained their positions for the 5th consecutive year as the Top 5 most admired brands in Africa.  In an interesting insight, affirming how entrenched non-African brands are in Africa, many such as Coca-Cola, Pepsi, Samsung, Lacoste, Total (Energies) and Guinness are mistakenly recalled among the most admired ‘African’ brands when the question is asked, “What African brands do you admire?”

Among organizations that are driving to do good while doing well, focusing as much on social and environmental concerns as on profits, UNICEF (originally called the United Nations International Children’s Emergency Fund) and UN, the #1 NGO, Coca Cola the #1 non-African organization and MTN the #1 African brands retained their positions among the most admired brands in Africa.

“While the share of African brands remains a disappointing 14%, with Africans overwhelmingly believing that mostly Africa will contribute to a better Africa, as nations continue to create an enabling environment for African entrepreneurs and the AfcFTA opportunity is realized, it’s just a matter of time, but ultimately the share of African brands will increase,” says Thebe Ikalafeng, founder and chairman of Brand Africa.

Recognizing that brands are a vector of a nation or organization’s identity, reputation competitiveness, every year, since 2011, Brand Africa, through its independent research partners, Kantar, Geopoll across sub-Sahara Africa, Integrate in North Africa, and Analysis in the East African Islands, conducts research in over 30 markets which account for as much as 85% of the continent’s GDP and population. The results are published as the lead cover story in the June edition of African Business, the continent’s foremost business magazine since 1966.

Over the next few weeks, Brand Africa will release country-specific results in key countries across the continent.

Read Also: MEDA Backs Obuntu Foundation To Empower Emerging African Fund Managers

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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