Monday, November 16, 2020 / 11:30 AM /
by Dangote Group / Header Image Credit: Dangote
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, the outcome of the
2020 edition of the Annual Brand Evaluation, "TOP 50 BRANDS NIGERIA" has
revealed.
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 organizers earlier in the
beginning of the year.
The emergence of Dangote brand as the most valuable 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 by Top 50 Brands, made available
to journalists ahead of the formal public presentation of the brands yesterday,
Taiwo Oluboyede, Chief Executive Officer 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".
Commenting on Dangote's emergence as the
most valuable brand for the third year running, Prof. Ehiedu Iweriebor of
the Department of Africana and Puerto Rican/Latino Studies, Hunter
College, City University of New York, said: "Dangote Group as a
brand leader for third year is a richly deserved honor. It is an
Nigerian industrial powerhouse that making Africans proudly of their endogenous
company and product."
However, the multinationals have more
entries overall, with 52 percent, an equivalent of 31 brands out of the 60.
This achievement by Nigerian brands are
significant in many ways, having 70 percent of the top 10 being Nigerian. It
shows that our locally made brands are constantly evolving and becoming more
vibrant by the day. "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, Globacon, UBA, GTBank,
Zenith Bank, First Bank, Dangote Group etc.
"This is a huge plus to the Nigerian
business space and a strong point of encouragement to foreign investors that
Nigeria still remain a top business frontier where you are almost certain of
high return on your investment".
A summary of the 2020 report as published
on their website, reveals that Dangote Group topped the list of the Most
Valuable Brand 2020. This is followed by MTN 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% 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
5th 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 Percent, that is an
equivalent of 29 brands are Nigerian while there are 31 multinational.
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. 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 2 brands each with Julius Berger, Samsung
Electronics, FlourMills of Nigeria Plc and Jumia, a first entrant topping these
categories respectively.
Seven brands made the annual ranking for
the first time, these are Sterling Bank Plc, Seplat Petroleum, 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.
Detailed report with profiles of the top
brands and the process, including the full report is available for download on
their website
It would be recalled that Dangote Group,
from Nigeria 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 Africa 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 mentions 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 14 percent 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 percent in 2013/14 to lows of 16 percent in 2015/16, 16 percent in
2016/17 and 17 percent in 2017/18.
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