Business

Foreign brands most loved on the African continent, survey reveals

Tuesday, May 28th, 2024 07:15 | By
Coca-cola
PHOTO/Print

African brands command a paltry 14 per cent share of Top 100 most admired brands in Africa, a new survey by Brand Africa has revealed.

The report, which has been tracking Africa’s most admired brands for 14 years, identifies leading brands such as South Africa’s MTN, Nigeria’s Dangote, Zambia’s Trade Kings, Nigeria’s Glo, South Africa’s DStv, and Ethiopian Airlines.

Thebe Ikalafeng, the founder and chairman of Brand Africa, acknowledged the current underrepresentation of African brands, but emphasiSed the prevailing sentiment among Africans that the continent itself holds the key to its own progress.

“With Africans firmly believing that Africa will primarily contribute to a better Africa, and as nations persist in creating an environment conducive for African entrepreneurs, coupled with the realisation of the African Continental Free Trade Area (AfcFTA) opportunity, it’s only a matter of time before the share of African brands increases,” Ikalafeng said.

Substantial impact

Intriguingly, non-African brands such as Nike, Adidas, Samsung, Coca Cola, and Apple have a strong foothold in Africa. Their influence is so profound that many, including Coca-Cola, Pepsi, Samsung, Lacoste, TotalEnergies, and Guinness, are often mistakenly identified as ‘African’ brands. This underscores the substantial impact these global brands exert on the African market.

The survey also reveals that European brands dominate with a 37 per cent share of the Top 100, followed by North America at 28 per cent. Meanwhile, Asia has increased its share to 21 per cent in the African market, indicating a growing presence.

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