Equity Bank has been featured in the Africa’s Most Valuable Brands ranking conducted by the Brand Finance Report 2021. Equity’s value jumped 8.3% compared to last year, to be valued at Ksh. 22.7 billion (USD 202 million) in 2021. The Bank is also the most valued bank by market capitalization listed on the Nairobi Stock Exchange at Ksh. 225 billion (USD 2 billion).
This year, 7 Kenyan brands featured in the Brand Finance Africa 150 ranking, with a total brand value of Ksh. 157 billion (USD 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 Tusker beer brand, with a brand value of Ksh. 5.8 billion (USD 52 millio)n in the 117th spot.
The report however unveiled that 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 Ksh. 304 billion (USD 2.7 billion). The telecom has maintained its lead as South Africa’s most valuable brand, according to the Brand Finance South Africa 50 2021 report.
The decline has mainly been 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.