JOHANNESBURG - Non-profit civil society movement Brand Africa on Monday said American sports apparel and equipment company Nike had taken the top spot for the third year in a row as the most admired brand in Africa, with mobile telecommunications group MTN and industrial conglomerate Dangote taking top honours among homegrown brands.
Established 10 years ago to coincide with the 2010 FIFA World Cup which was hosted for the first time on the continent by South Africa, the 'Brand Africa 100: Africa's Best Brands" rankings show that African companies only occupied 13 spots in the 2020 survey, seven less than last year.
"It's concerning that in the 10 years since the triumphant FIFA World Cup in South Africa which globally highlighted the promise and capability of Africa, and despite the vibrant entrepreneurial environment, Africa is not creating more competitive brands to meet the needs of its growing consumer market," said founder Thebe Ikalafeng, chairman of advisory firm Brand Leadership.
"African brands have an important role in helping to build the image, competitiveness and transforming the continent's promise into a real change."
Graphic: Supplied by Brand Africa
Nigeria's GT Bank returned to the top spot in financial services while British broadcaster the BBC retained its media category ranking as the most admired media brand.
The consumer-led survey was conducted among a representative sample of respondents aged 18 years and above in 27 countries, representing 50 percent of the continent, covering all economic regions and accounting for an estimated 80 percent of the population and gross domestic product of Africa.
Out of the top 100 brands in 2010/11, only half still appeared in this year's list, due to mergers, acquisitions and the obsolescence of many brands.
This year's rankings saw a strong performance from payment service firms PayPal, Western Union and Visa, as digitisation and digital-led economies are expected to accelerate more acutely because of the Covid-19 pandemic which has necessitated physical distancing.