- Dangote, MTN and Safaricom have been listed as the most admired brands in Africa in the year 2020
- Nike also retained its top spot as the best brand on the continent for the last three years
- African companies only occupied 13 spots on the Brands Africa 100
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A report which shows the ranking of brands in Africa has listed Nigeria's Dangote Group and Globacom, South Africa's MTN and Safaricom of Kenya as Africa’s most admired brands for 2020.
They are recognized as the highest brands listed on the leading Sub-Saharan Bourses, the Johannesburg Stock Exchange and Nairobi Securities Exchange.
American sports and fitness company, Nike, retained the top spot as the best brand on the continent for the third year in a row.
Brand Africa reports that GT Bank, from Nigeria, was recognized as the best in financial services and BBC was also acknowledged as the most admired media brand.
Legit.ng gathered that African brands only managed to secure 13 out of the 100 slots.
The African countries recognized in the ratings are South African with 5 slots, Nigeria with 6 slots, Kenya with 1 slot and Ethiopia with 1 slot.
Other Nigerian brands recognized in the top 100 list were Nasco, Star Lager Beer, Jumia and Maltina.
With African brands securing 13 slots, non-African brands took the remaining 87 positions.
Reports available show that mergers, acquisitions and obsolescence has led to a downturn in the number of brands from the 2010/11 rankings.
The 2020 survey was conducted between February and April 2020 and yielded over 15,000 brand mentions and over 2,000 unique brands.
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Meanwhile, in other business news, Legit.ng reported that a number of African countries adopted lockdowns as one of the strategies to control the spread of the coronavirus.
The lockdowns came with restrictions on human movement as well as the expansion of e-commerce businesses on the continent.
The information available, however, shows that some challenges have mitigated against the growth of the industry. This is even as Nigeria, on its part, is looking closely at a future in digital economy amid crash in oil prices.
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