NAIROBI, Kenya, Mar 7 – Safaricom is the fourth most valuable brand in Africa according to the annual Brand Africa 100: Africa’s Best Brands report for 2017.
The Safaricom brand which has gained traction owing to the mobile money transfer service MPESA is valued at Sh70 billion according to the report.
Safaricom and Tusker are the only two Kenyan brands on the top ten list of the report. Tusker is valued at Sh20 billion at number nine.
Safaricom is the biggest telecoms firm in Kenya with 26 million subscribers and dominates the thriving mobile-based financial services sector with its innovative MPESA platform.
Africa’s largest telecommunication company MTN from South Africa tops the list as the most valuable African brand valued at Sh304 billion followed by Shoprite, a South African retail brand valued at Sh100 billion.
Tiger Brands, the former co-owners of Kenya’s Haco Industries is third valued at Sh90 billion. Businessman Chris Kirubi recently bought back his stake at Haco after an eight-year partnership with Tiger Brands.
Other top ten most valued African Brands include South Africa’s Multichoice (valued at Sh63 billion) and retail chain’s Pick and Pay (valued at Sh58 billion) both at five and six places respectively.
Nigeria’s Dangote valued at (Sh50 billion) and Glo/Globalcom valued at Sh43 billion came in 7th and 8th place respectively.
South Africa Food brand Sasko was at number 10 valued at Sh16 billion.
Brand Africa 100 was developed by pan-African branding and reputation advisory firm, Brand Leadership Group supported by Kantar TNS.
“These rankings are an important metric of the progress Africa is making in creating competitive world-class brands that respond to African conditions, needs and ambitions,” says Thebe Ikalafeng, Founder and Chairman of Brand Africa and Chairman of Brand Finance Africa.
Safaricom/MPesa has also been ranked the 5th most admired African Brand after MTN, Glo, Dangote and Ethiopia’s Anbessa Shoes.
Deputy Minority leader Jakoyo Midiwo has proposed amendments to the country’s communication and banking laws aimed at breaking up Safaricom which is 40 percent owned by Britain’s’ Vodafone.
Midiwo, who accuses Safaricom of offering banking services without the necessary license, aims to force the firm to run MPESA as a separate business from the telecoms service.