For the umpteenth time, Dangote Group, a Nigerian owned and most diversified conglomerate has emerged the most valuable brand in Nigeria after the 2019 Top 50 Brand survey, while MTN closely followed as the most valuable multinational and telecommunication brands with Glo coming third in the chart.
The top brands and category leaders will be honoured at the #IAMBRANDNIGERIA award and gala in Lagos on Saturday 30th November 2019.
Dangote industry again took the lead this year following its 2018 feat. This made Dangote double as the Most Valuable overall and Nigeria brand in the 2019 review. Dangote, a Nigerian brand is the most diversified and largest conglomerate in West Africa and one of the largest in the continent.
According to Taiwo Oluboyede, the chief Executive officer/country director of Top 50 Brands Nigeria, “Dangote cement, a member of the group is the most capitalized company on the Nigerian Stock Exchange. Dangote is expected to deliver its 650 thousands barrel per day capacity crude oil refinery with the world tallest atmospheric tower in the coming year.”
MTN, despite negative narratives has continued to grow stronger, maintaining its second placement in this annual ranking. The brand has been the largest telecom and business service provider in Nigeria, said the organisers.
“The brand enjoys more local affinity with the public listing and the trading of its stocks earlier in the year. Following its listing on the floor of the Nigerian Stock Exchange (NSE), MTN has been the second most capitalized company on the exchange, Oluboyede said, adding that “It is first telecommunication network service provider to be listed on the NSE premium board. By this also, MTN Nigeria is the Most Valuable Multinational in Nigeria for the year.”
On the chart, not surprising, another telecom company, Globacom, fully Nigerian, came third with 75.2 Brand Strength Measurement points. Glo started the year with the unveiling of the World Heavy Weight Champion, Anthony Joshua as its brand ambassador. It is also a brand known for support of entertainment and sport.
Meanwhile, Coca-Cola Nigeria emerged on the forth position, Dufil Prima, makers of Indomie Noodles jumped 5 places from 10th in 2018 to 5th in 2019. GTBank came 6th, makjng it The Most Valuable brand in the Banking and Financial Services category
Other among the top 10 in the 2019 TOP 50 BRANDS NIGERIA include First Bank -7th, UBA – 8th, Zenith Bank – 9th and Access Bank -10th.
Top 50 Brands Nigeria media manager, Moses Ibrahim said “Access Bank joined the top 10 class, moving 4 places from last year’s. Access has been described as a brand doing many things right. Its perception and value took a leap with the recent acquisition and seamless integration of Diamond bank.”
According to him, the banking and financial services came stronger in the top 10, with 5 brands within the elite class. Five brands among the top 10 maintained their previous year’s position, i.e. Dangote, MTN, Globacom, UBA and Zenith Bank on the 1st, 2nd, 3rd, 8th and 9th position respectively.”
Eight out of the top ten had maintained a top 10 position for the past 3 years consecutively. Seven brands out of the top 10 are Nigerian brands.
On the overall, 52% or 26 brands are international brands while there are 24 (48%) Nigerian brands. The Banking and Financial Services categories took the lead again with 12 brands. Five of them are among the top 10.
Aside the 50 top brands for the year, we specially recognise certain brands who, though not among the 50 top yet, but they are aspirational, vibrant and promising.
Many of them are quite new while some have been in existence but with some rejig that reinvigorate strong market vibes, they are exciting and promising, and we have seeing some migrating to the annual 50 top brands in the past.
It is interesting to note that most of the brands to watch are ICT based, and Fitech especially. This isn’t unexpected considering the fact that transaction processes and payment are getting more virtual. More so, with the government increasing push towards cashless economy as it is in more developed economies.
Among the 10 Brands to Watch are 3c Hub, Air Peace, Lifemate Furniture, Flutterwave, FMCG Disteivution, KONGA , OPAY, Paystack, Sonia Foods, GIG Group.
“It should be noted that the 10 Brands to Watch are not subjected to the BSM index, but they have significant mentions in the affinity survey” Ibrahim concluded.