Economy
Dangote Retains Position as Most Admired African Brand
For the second straight year, a Nigerian company, Dangote Group, has emerged as the most admired African brand, of African continent origin, by consumers ahead of the telecommunication giant, MTN in a survey of 100 Africa best brands announced in Johannesburg at the weekend.
According to the South Africa based Brand Africa in a survey carried out in collaboration with the Johannesburg Stock Exchange (JSE), the seventh edition which was released at the weekend, of 15,000 brands mentioned, Dangote ranked first brand when consumers are prompted to recall the most admired African brand.
In the top 100 list, the United State sports and fitness mega brand, Nike, a non-African brand retains the overall number one brand in Africa spontaneously recalled by consumers.
South African telecoms brand, MTN, is the number one African brand spontaneously recalled brand, while surging Ethiopian brand Anbessa Shoes, at number two, swopped positions with Nigerian conglomerate, Dangote, which is the number three most admired brand of African of origin.
However, when consumers are prompted to recall the most admired African brand, Dangote retains the number one position. Just last year Dangote brand was named the most valuable brand among the top 50 brands in Nigeria for 2018 by Brand Nigeria.
Further analysis of the ranking indicates that Overall, the 2018/19 Brand Africa 100 list, which is calculated from 15,000 brand mentions illustrates a very diversified range of brands in Africa and shows year on year consistency with 80 per cent of the top 100 brands having been in the top 100 Most Admired Brands in previous years.
Overall, African brands faltered to an all-time low 14 percent share of the top 100 most admired brands in Africa. However, MTN (South Africa), Dangote (Nigeria) and Safaricom (Kenya) are the most admired highest listed brands on sub-Sahara’s leading bourses, the JSE, Nigeria Stock Exchange and Nairobi Securities Exchange respectively.
Faced with a relentless focus on the African opportunity and investment by non-African brands, Africa’s share of the most admired brands has been rapidly declining over the past three years from a high of 25 percent in 2013/14 to lows of 16 percent in 2015/16, 16 percent in 2016/17 and 17 percent in 2017/18.
“Today at the JSE, at an event with industry leaders from across Africa, hosted by the JSE in partnership with Geopoll, Kantar and Brand Leadership, Brand Africa announced the Top 100 brands in Africa in their 7th annual Brand Africa 100: Africa’s Best Brands. Nike, MTN, Dangote, Ecobank and BBC were recognised as the most admired brands on the continent,” a statement from the Brand Africa read.
“Non-African brands have entrenched their positions in Africa, with North American brands, dominated exclusively by United States of America brands (28%), leading with a growth of 17% versus 2017/8. The strength of USA brands was boosted by the entry and/or re-entry of stalwart American brands such as number 71 Levi’s, number 91 Chevrolet and Pepsi’s Miranda at number 80, who are all among the 20 new entrants. European brands (41%) are up by 2,5% and Asian brands (17%) down by 10%, round up the continental spread of brands Africans admire.
The Brand Africa 100 rankings are based on a survey among a representative sample of respondents 18 years and older, conducted in 25 countries across Africa. Covering all African economic regions, collectively these countries account for an estimated 80% of the continent’s population and 75% of the GDP.
In a reconfigured category listing where technology and electronics and telecoms categories were separated and new categories of luxury and personal care were introduced or re-introduced, the Top 100 is dominated by technology and electronic brands (18%) and telecoms (7%), consumer (non-cyclical) (16%), auto manufacturers (11%), luxury (10%), automobile (11%), apparel (8%), retail (7%), food (4%), non-alcoholic beverages (5%), personal care (4%), sports & fitness (4%) and media (1%) categories are the top categories.
Thebe Ikalafeng, Founder and Chairman of Brand Africa and Brand Leadership said of the outcome of survey “It is disappointing that despite its vibrant entrepreneurial environment, Africa is not creating new competitive brands to meet the needs of its growing consumer market.
“These rankings are an important metric of and challenge for creating home-grown competitive African brands that will transform the African promise and change its narrative and image as a competitive continent. African brands have an important role in helping to build the African brand”, he added.
Brand Africa 100 was developed by pan-African branding and reputation advisory firm, Brand Leadership Group supported by GeoPoll, the leader in mobile-based market research throughout Africa, and strategic analysis and insights by Kantar TNS, the world’s leading data, insights and consulting company.
It is an inter-generational movement to inspire a great Africa through promoting a positive image of Africa, celebrating its diversity and driving its competitiveness. It is a brand-led movement which recognizes that in the 21st century, brands are an asset and a vector of image, reputation and competitiveness of nations. Brand Africa seeks to inspire a brand-led African renaissance.
Its ranking of Africa’s 100 Best Brands is an initiative to survey, rank and recognize the best brands in Africa in recognition of the growth of African brands, which were beginning to challenge global brands in Africa or lead global brands in new categories such as telecommunications. The aim of Brand Africa is to identify, acknowledge and promote African and global brands that are catalysts for Africa’s growth, reputation and value.
In his reaction, Group Chief Corporate Communication Officer of the Dangote Group, Mr Anthony Chiejina, said the management was not unexpected of the ranking because the company has a long-standing reputation for quality, relevance compliance and social stewardship. “Our mission and vision engage and inspire us to by extension connects us to with both our internal and external stakeholders.
“We fervently believe that only Africans can develop Africa, and this gives us stronger sense of relevance in all the countries where we have our operations. we are touching lives by providing their basic needs and empowering Africans more than ever before creating jobs reducing capital flight, helping government conserve foreign exchange drain by supporting different industrial infrastructural projects of African government.”
Mr Chiejina stated further that Dangote Cement has been producing high quality and affordable cement, reducing poverty, engaging in unprecedented philanthropy and above all respecting the laws of the land where we operate.
“All these are our credo and we do not compromise it; it is our way. And the ranking is just an acknowledgement of all these by our stakeholders, we keep our brand promise and stay authentic,” he concluded.
By Adedapo Adesanya
The Lagos Chamber of Commerce and Industry (LCCI) has noted that the N15.52 trillion allocation to debt servicing in the 2026 budget remains a significant fiscal burden.
LCCI Director-General, Mrs Chinyere Almona, said this on Tuesday in Lagos via a statement in reaction to the nation’s 2026 budget of N58.18 trillion, hinging the success of the 2026 budget on execution discipline, capital efficiency, and sustained support for productive sectors.
She noted that the budget was a timely shift from macroeconomic stabilisation to growth acceleration, reflecting growing confidence in the economy.
She lauded its emphasis on production-oriented spending, with capital expenditure of N26.08 trillion, representing 45 per cent of total outlays, and significantly outweighing non-debt recurrent expenditure of N15.25 trillion.
According to Mrs Almona, this composition supports infrastructure development, industrial expansion, and productivity growth.
However, she explained that the N15.52 trillion allocation to debt servicing underscored the need for stricter borrowing discipline, enhanced revenue efficiency, and expanded public-private partnerships to safeguard investments that promote growth.
She added that a further review of the 2026 budget revealed relatively optimistic macroeconomic assumptions that may pose fiscal risks.
“The oil price benchmark of $64.85 per barrel, although lower than the $75.00 benchmark in the 2025 budget, appears optimistic when compared with the 2025 average price of about $69.60 per barrel and current prices around $60 per barrel.
“This raises downside risks to oil revenue, especially since 35.6 per cent of the total projected revenue is expected to come from oil receipts.
“Similarly, the oil production benchmark of 1.84 million barrels per day is significantly higher than the current level of approximately 1.49 million barrels per day.
“Achieving this may be challenging without substantial improvements in security, infrastructure integrity, and sector investment,” she said.
Mrs Almona said the exchange rate assumption of N1,512 to the Dollar, compared with N1,500 in the 2025 budget and about N1,446 per Dollar at the end of November, suggests expectations of a mild depreciation.
She said while this may support Naira-denominated revenue, it also increases the cost of imports, debt servicing, and inflation management, with broader macroeconomic implications.
The LCCI DG added that the inflation projection of 16.5 per cent in 2026, up from 15.8 per cent in the 2025 budget and a current rate of about 14.45 per cent, appeared optimistic, particularly in a pre-election year.
She also expressed concern about Nigeria’s historically weak budget implementation capacity, likely to be further strained by the combined operation of multiple budget cycles within a single year.
Looking ahead, Mrs Almona identified agriculture and agro-processing, manufacturing, infrastructure, energy, and human capital development as key drivers of growth in 2026.
She said that unlocking these sectors would require decisive execution—scaling irrigation and agro-value chains, reducing power and logistics costs for manufacturers, and aligning education and skills development with private-sector needs.
The LCCI head stressed the need to resolve issues surrounding the Naira for crude, increase the supply of oil to local refineries to boost local refining capacity and conserve the substantial foreign exchange used for fuel imports.
“Overall, the 2026 Budget presents a credible opportunity for Nigeria to transition from recovery to expansion.
“Its success will depend less on the size of allocations and more on execution discipline, capital efficiency, and sustained support for productive sectors.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited witnessed Santa Claus rally on Wednesday after it closed higher by 0.12 per cent.
Strong demand for Nigerian stocks lifted the All-Share Index (ASI) by 185.70 points during the pre-Christmas trading session to 153,539.83 points from 153,354.13 points.
In the same vein, the market capitalisation expanded at midweek by N118 billion to N97.890 trillion from the preceding day’s N97.772 trillion.
Investor sentiment on Customs Street remained bullish after closing with 36 appreciating equities and 22 depreciating equities, indicating a positive market breadth index.
Guinness Nigeria chalked up 9.98 per cent to trade at N318.60, Austin Laz improved by 9.97 per cent to N3.20, International Breweries expanded by 9.85 per cent to N14.50, Transcorp Hotels rose by 9.83 per cent to N170.90, and Aluminium Extrusion grew by 9.73 per cent to N16.35.
On the flip side, Legend Internet lost 9.26 per cent to close at N4.90, AXA Mansard shrank by 7.14 per cent to N13.00, Jaiz Bank declined by 5.45 per cent to N4.51, MTN Nigeria weakened by 5.21 per cent to N504.00, and NEM Insurance crashed by 4.74 per cent to N24.10.
Yesterday, a total of 1.8 billion shares valued at N30.1 billion exchanged hands in 19,372 deals versus the 677.4 billion shares worth N20.8 billion traded in 27,589 deals in the previous session, implying a slump in the number of deals by 29.78 per cent, and a surge in the trading volume and value by 165.72 per cent and 44.71 per cent apiece.
Abbey Mortgage Bank was the most active equity for the day after it sold 1.1 billion units worth N7.1 billion, Sterling Holdings traded 127.1 million units valued at N895.9 million, Custodian Investment exchanged 115.0 million units for N4.5 billion, First Holdco transacted 40.9 million units valued at N2.2 billion, and Access Holdings traded 38.2 million units worth N783.3 million.
By Adedapo Adesanya
Nigerian food and beverage company, Rite Foods Limited, has extended warm Yuletide greetings to Nigerians as families and communities worldwide come together to celebrate the Christmas season and usher in a new year filled with hope and renewed possibilities.
In a statement, Rite Foods encouraged consumers to savour these special occasions with its wide range of quality brands, including the 13 variants of Bigi Carbonated Soft Drinks, premium Bigi Table Water, Sosa Fruit Drink in its refreshing flavours, the Fearless Energy Drink, and its tasty sausage rolls — all produced in a world-class facility with modern technology and global best practices.
Speaking on the season, the Managing Director of Rite Foods Limited, Mr Seleem Adegunwa, said the company remains deeply committed to enriching the lives of consumers beyond refreshment. According to him, the Yuletide period underscores the values of generosity, unity, and gratitude, which resonate strongly with the company’s philosophy.
“Christmas is a season that reminds us of the importance of giving, togetherness, and gratitude. At Rite Foods, we are thankful for the continued trust of Nigerians in our brands. This season strengthens our resolve to consistently deliver quality products that bring joy to everyday moments while contributing positively to society,” Mr Adegunwa stated.
He noted that the company’s steady progress in brand acceptance, operational excellence, and responsible business practices reflects a culture of continuous improvement, innovation, and responsiveness to consumer needs. These efforts, he said, have further strengthened Rite Foods’ position as a proudly Nigerian brand with growing relevance and impact across the country.
Mr Adegunwa reaffirmed that Rite Foods will continue to invest in research and development, efficient production processes, and initiatives that support communities, while maintaining quality standards across its product portfolio.
“As the year comes to a close, Rite Foods Limited wishes Nigerians a joyful Christmas celebration and a prosperous New Year filled with peace, progress, and shared success.”
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