Safaricom, Equity Are Kenya’s Most Valuable and Strongest Brands

Safaricom retains top position as Kenya’s most valuable brand, valued at US$689 million.

Safaricom and Equity Bank CEOs Peter Ndegwa and James Mwangi

Kenya is no stranger to strong technology brand presence. Global tech companies are setting up their shops in the country, and some, such as Google, Microsoft, Visa and recently, Bolt, have opened their innovation and regional hubs in Nairobi to serve as the nerve centre for their Africa-wide operations.

The reopening of the economy following the pandemic has also played a key role in reviving some of the brands that had started to struggle. However, some did not lose their positions as reported by Brand Finance Kenya 20 Ranking.

Its latest numbers show that Safaricom retained its position as Kenya’s most valuable brand. It is now valued at USD 689 million.

This means that Safaricom’s brand grew by 38 percent to the said valuation. It has since reported impressive financial results following an excellent performance in its M-PESA and data offerings.

The rest of the brands are ranked as follows: at number 2 is Equity Bank, followed by KCB, M-PESA, Cooperative Bank, NCBA, I&M, Tusker, Kenya Airways, and DTB.

The rest of the brands in the top 20 bracket can be read here.

Besides brand value, Brand Finance determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. 

Equity Bank (brand value up 92% to USD 388 million) is the strongest brand in Kenya with Brand Strength Index (BSI) score of 90.8 out of 100 and a corresponding AAA+ brand rating.

The rest members of Kenya’s strongest brands are (in their order): KCB, Safaricom, Coop Bank, Bamburi Cement, Tusker, M-PESA, NCBA, DTB and Kenya Airways.

Kenyan beer brand Tusker achieved an impressive 132% brand value growth this year, growing to USD 50 million in brand value.

Other fastest growing brands were: Equity, KCB, Coop, Safaricom, M-PESA, KQ, and Bamburi Cement.

Also, KenGen and Nairobi Securities Exchange enter top 20 by leveraging digital transformation.

Walter Serem, Regional Manager, East Africa, Brand Finance Africa, commented: “Every Kenyan brand has faced enormous disruption from the COVID-19 pandemic, but the successful brands have been the brands that have used new technology to adapt to the new conditions. Shifting to different sales and communication channels has allowed brands like Tusker to connect directly with customers and provide services in an innovative manner.”