Telecoms operator Safaricom #ticker:SCOM has been ranked as the most valuable brand in Kenya at $970 million (Sh105 billion) topping KCB #ticker:KCB and Equity Bank #ticker:EQTY.
London-based consultancy Brand Finance ranked 150 of Africa’s strongest brands with Safaricom coming in 12th across the continent, while Equity and KCB ranked 69th and 70th, respectively. Kenya had a total six brands in the ranking while South African brands scooped 86 slots.
Senator Larger, was not only placed 80th overall, but was the fastest growing in Africa, growing in value by 88 percent over the last year, reaching a brand value of $132 million.
Kenya Airways, which has been posting losses over the past few years it entered the ranking in 123rd position. While its biggest rival in the sector regionally, Ethiopian Airlines, sits in 33rd. Sheet Street, an apparel brand was the 144th and the last of the Kenyan brands on the list.
“Brands create value and will help lead the economy out of the recession caused by Covid-19. There has never been a more important time to recognise the role of brands,” said David Haigh, founder and CEO of Brand Finance.
The top 10 slots were taken up by SA based brands including MTN, Vodacom, FNB, ABSA, Old Mutual, Standard Bank, Sasol, Nedbank, Investec and Woolworths respectively, most of which have a presence outside their home market.
“There is no denying that the African market remains immature and fragmented in comparison to its global counterparts,” said Jeremy Sampson, Managing Director Brand Finance Africa.