For the third consecutive year, the pan-African and fully integrated Conglomerate, Dangote Group has again emerged as the Most Valuable Brand in Nigeria for the year 2020.
This is the outcome of the 2020 edition of the Annual Brand Evaluation, ‘TOP 50 BRANDS NIGERIA’.
Though, still themed Top 50 Brand, however, 60 brands were evaluated as being top of the pack in commemoration of Nigeria’s Independence Diamond Jubilee as announced by the organisers earlier at he beginning of the year.
The emergence of Dangote as the most valuable brand for the third time in Nigeria is coming a year after the company was named the most admired African brand, of African continent origin, by consumers in the Continent ahead of the telecommunication giant, MTN in a survey of 100 Africa best brands which was announced in Johannesburg
In a statement, the chief executive officer, Top 50 Brands, Taiwo Oluboyede said, “In this special edition of the annual top brands evaluation, I am glad to inform you again that Nigerian brands have taken the shine by maintaining their leadership positions. We are particularly delighted that locally made brands doesn’t just top the list, they also record the majority among the top 10, with seven of the 10 brands being Nigerian.
“They have not relented in making attractive value proposition that endear the consumers to them, to the point that many consumers are now contended with Made in Nigeria, over foreign brands across many categories. This is a clear departure from recent pasts.
“This also means that many great things are still happening in Nigeria, regardless of the negative press. Our locally made brands are standing shoulder to shoulder with the multinationals in their industries and they are emerging better in valuation and perception,” he stated.
According to him, big businesses and widely acceptable brands are being built here, challenging the status quo and taking leadership roles across various industries and areas of operations.
“They are not just local champions; many of these Nigerian brands have also become multinationals, expanding aggressively across other African countries and beyond. You can see this in brands like Access Bank, Globacom Limited, United Bank for Africa (UBA), Guaranty Trust Bank (GTBank), Zenith Bank, First Bank, Dangote Group, among others.
A brief summary of the 2020 report revealed that Dangote Group topped the list of the Most Valuable Brand 2020. This is followed by MTN Nigeria Communication which also doubles as the Most Valuable Multinational and Telecom Brand.
At the third place is Globacom, another proudly Nigerian brand. Glo made an impressive achievement this year by emerging top in the popularity survey. The popularity test, which is done though a Top of the Mind (TOM) survey is the first and most important variable in the annual top brands evaluation.
Glo achieved an 89 per cent mention from respondents during the TOM survey. This made Globacom, the Most Popular Brand in Nigeria 2020. Coca-Cola Nigeria emerged in the fourth place and effectively topped the Beverages category, followed by GTBank on the fifth Place, topping the Banking and Financial Services brands.
The Banking and Financial Services had the highest number of brands in the top 10, with five brands. This is followed by the telecoms with three brands. Seven brands among the top 10 had maintained top 10 positions for the past four years consecutively. Five brands among the top 10 maintained previous year’s positions.
In overall, 48 per cent, that is an equivalent of 29 brands are Nigerian while there are 31 multinationals.
The banking & Financial Services had 14 brands, equivalent of 23.3 percent, followed by the Consumer Goods Category with 12 brands. This is led by Dufil Prima Foods. Conglomerates and Oil & Gas categories have six brands each, with Dangote and Oando topping them respectively.
Telecoms and Beverages had four brands each, as MTN and Coca-Cola emerged top in these two categories respectively. Media and Automobile had three brands each, with Channels TV and Toyota Nigeria topping the categories
Construction Services, Electronics, Agriculture and Retail categories had two brands each with Julius Berger, Samsung Electronics, Flour Mills of Nigeria Plc and Jumia, a first entrant topping these categories respectively.
Seven brands made the annual ranking for the first time, and these are; Sterling Bank Plc, Seplat Petroleum Development Company, Daraju Industries, TGI Group, Transsion holding, Jumia Nigeria and AIICO Insurance. Julius Berger Nigeria Plc emerged the higher gainer this year, while 10 brands among the 60 maintained their 2019 positions.
It would be recalled that Dangote Group, for the second year emerged as the most admired African brand, of African continent origin, by consumers in the African continent.
According to the South African-based Brand Africa in a survey carried out in collaboration with the Johannesburg Stock Exchange (JSE), the seventh edition which was released at the weekend, of 15,000 brands mentioned, Dangote ranked first brand when consumers are prompted to recall the most admired African brand.
In the top 100 list, the United State sports and fitness mega brand, Nike, a non-African brand retains the overall number one brand in Africa spontaneously recalled by consumers. South African telecoms brand MTN is the number one African brand spontaneously recalled brand, while surging Ethiopian brand Anbessa Shoes, at number two, swopped positions with Nigerian conglomerate, Dangote, which is the number three most admired brand of African of origin.
However, when consumers are prompted to recall the most admired African brand, Dangote retains the number one position. Just last year, Dangote brand was named the most valuable brand among the top 50 brands in Nigeria for 2018 by Brand Nigeria.
Further analysis of the ranking indicates that overall, the 2018/19 Brand Africa 100 list, which is calculated from 15,000 brand mentioned, illustrates a very diversified range of brands in Africa and shows year on year consistency with 80 per cent of the top 100 brands having been in the top 100 Most Admired Brands in previous years.
Overall, African brands faltered to an all-time low of 14 per cent share of the top 100 most admired brands in Africa. However, MTN (South Africa), Dangote (Nigeria) and Safaricom (Kenya) are the most admired highest listed brands on sub-Sahara’s leading bourses, the JSE, Nigeria Stock Exchange and Nairobi Securities Exchange respectively.
Faced with a relentless focus on the African opportunity and investment by non-African brands, Africa’s share of the most admired brands has been rapidly declining over the past three years from a high of 25 per cent in 2013/14 to lows of 16 per cent in 2015/16, 16 per cent in 2016/17 and 17 per cent in 2017/18.