Top Kenyan banks have been featured among Africa’s 150 most valuable brands by the London-based brand valuation consultancy firm – Brand Finance.
Equity Bank has featured in the ranking that was launched in 2020 for the second year in a row.
The lender’s value rose by 8.3 percent to be valued at US$ 202 million. The Bank is also the most valued bank by market capitalization at the Nairobi Stock Exchange at USD 2 billion.
This year, 7 Kenyan brands featured in the Brand Finance Africa 150 ranking, with a total brand value of US$1.4 billion – an 8% year-on-year decline.
However, the country is now accountable for 4% of the overall value in the ranking, a marginal increase of 1% compared to 2020. This year also saw three Kenyan brands make their debut appearances in the ranking, including one of the country’s most popular beer brands, Tusker with a brand value of US$52 million in the 117th spot.
The report however says Kenya is still underrepresented in the Brand Finance Africa 150 ranking with only a handful of brands making the cut.
South Africa’s MTN has retained the title of Africa’s most valuable brand, despite recording a 19% drop in brand value to US$2.7 billion. The telecoms giant dominates on home soil too, this year holding onto its decade-long reign as South Africa’s most valuable brand, according to the Brand Finance South Africa 50 2021 report.
According to the latest Brand Finance Africa 150 report, the total value of Africa’s top 150 most valuable brands has declined by US$5.5 billion (12%) from US$45.5 billion in 2020 to US$40.0 billion in 2021.
This is attributed to the COVID-19 pandemic, which it says, played a key role in the downturn in the brand value of Africa’s top brands.
“In a year that saw most African countries go into lockdown and significant unrest across the continent, a decline in total brand value for the top African brands is unsurprising. Following the pandemic, African brands will need to search for opportunities to make up lost ground. By embracing new technologies and collaboration, the continent can propel its recovery and bounce back from the extraordinary situation the world has found itself in,” said Jeremy Sampson, Managing Director, Brand Finance Africa.