FNB was once again recognised as one of the Most Valuable Brands in Africa in the latest Brand Finance Africa 150™ 2021 valuation report. The bank was also the highest ranked banking brand in the continent.
The report ranks Africa’s top 150 brands by brand value and brand strength. Brand value is described as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. According to the research banking, telecoms, and insurance remain Africa’s most valuable sectors, but cumulative brand values across the sectors have declined partly due to Covid-19.
“We are humbled to once again be acknowledged as the leading banking brand in the Most Valuable Brands category,” says Faye Mfikwe, FNB Chief Marketing Officer. “The pandemic has highlighted the need for brands to become more relevant, trustworthy and reliable – and we are pleased to be recognised for our positive impact on society. The accolade also reaffirms the resilience of our business model which is centred on building a contextual digital platform for customers, employees, and society at large,” she says.
Jeremy Sampson, Managing Director, Brand Finance Africa, commented: “In a year that saw most African countries go into lockdown and significant unrest across the continent, a decline in total brand value for the top African brands is unsurprising. Following the pandemic, African brands will need to search for opportunities to make up lost ground. By embracing new technologies and collaboration, the continent can propel its recovery and bounce back from the extraordinary situation the world has found itself in.”
The Brand Finance accolade comes shortly after FNB maintained its position as the Most Valuable Brand in South Africa for a second consecutive year in the BrandZ Top30 Most Valuable Brands by Kantar.
Find more information here