Equity Group has overtaken Safaricom to become Kenya’s most valuable brand, helped by growth prospects and perceptions from customers in areas such as familiarity, consideration, and recommendation, according to the latest ranking by a UK-based brand valuation and strategy consultancy.
Brand Finance, in the annual Global 500 ranking report that list the world’s top 500 most valuable and strongest brands, puts Equity as the top brand in Kenya with a valuation of $450 million (Sh61.2 billion), translating into a 5.1 percent growth from $428 million (Sh58.2 billion) in the previous year.
Equity overtook Safaricom, whose value dropped by 44.1 percent to $397 million (Sh53.99 billion) from $710 million (Sh96.6 billion) in the previous year when it ranked top.
“Equity Bank’s outstanding brand valuation and strength reflect its dominant position in the Kenyan financial landscape. The bank’s solid financial performance, combined with stellar brand metrics, equips it well to navigate future challenges and capitalise on opportunities within the ever-evolving financial sector,” said Walter Serem, Brand Finance regional director for East Africa.
Safaricom’s brand value did not, however, include M-Pesa, whose value dropped 21.6 percent to $181.4 million (Sh23.9 billion) to rank fourth. KCB Group was ranked third with a value of $344.5 million (Sh45.5 billion), followed by M-Pesa and then Co-operative Bank in the fifth spot with a brand value of $148.6 million (19.6 billion). Completing the top 10 rankings were NCBA (Sh19.7 billion), Kenya Power (Sh16 billion), Kenya Airways (Sh6.4 billion), Tusker (Sh5.8 billion), and I&M (Sh5.6 billion).
Brand Finance ranked CIC Insurance Group as the fastest-growing brand in Kenya, with a 63 percent surge in brand value to Sh1.9 billion. The consultancy attributed CIC’s rise to enhanced customer perceptions and heightened brand strength.
NCBA’s brand value grew 44 percent, being the second fastest jump, followed by Kenya Airways (38 percent to Sh6.4 billion), Centum (36 percent to Sh713.8 million), Jubilee (36 percent) and Britam with a 35 percent growth. “These figures reflect the strategic adaptability and resilience of Kenyan brands amidst operational and economic challenges, illustrating a promising trajectory for the future of Kenya’s corporate landscape,” said Brand Finance.
Globally, tech firms dominated the top five most valuable brands. Apple’s brand value increased by $219 billion to $516.6 billion—approximately equal to the combined value of Starbucks, Mercedes-Benz, Tesla, and Porsche brands. Apple was followed by Microsoft, Google, Amazon and Samsung.
“Apple has grown its brand value through strategic diversification and premiumisation, moving away from heavy reliance on iPhone sales towards ventures into wearables and services such as Apple TV subscriptions,” said the firm.
