African brands hold just 14% of the top 100 most admired brands in Africa, with MTN and Dangote leading the pack. This share has remained flat for the past year.
European brands hold 37%, while North American brands account for 28% and Asian brands capture 21% of the African market.
South Africa, Nigeria, Ethiopia, Zambia, Zimbabwe, and Tanzania contribute the remaining 14%. Notably, Kenya’s Equity Bank now ranks as Africa’s most admired financial services brand. Powerhouses like Nike, Coca-Cola, Adidas, Samsung, and Apple retain their top five positions for several years running. Many consumers even mistakenly identify these brands as African.
The study doesn’t delve into specific reasons, but it hints at challenges faced by African brands. Founder of Brand Africa, Thebe Ikalafeng, suggests that African nations need to create a more supportive environment for entrepreneurs. The African Continental Free Trade Area (AfCFTA) is expected to bolster African brands in the long term.
Moreover, the study suggests a potential future shift. Brand Africa’s founder believes that African brands will eventually gain a larger share as the business environment improves and AfCFTA takes effect.
Brand Africa has been conducting brand surveys in Africa since 2011. The 2024 study covers 30 countries, representing over 85% of Africa’s population and GDP. The research is conducted by Geopoll (mobile research) and Kantar (information research), with collaboration from Brand Leadership (branding consultancy).
This report highlights the ongoing struggle of African brands to compete with established foreign players. While there are pockets of success, a continent-wide shift will require a supportive environment and the full realization of the AfCFTA’s potential.
AP/fss/abj/APA