Dangote has emerged as the most valuable brand among the top 50 brands in Nigeria for 2018 unveiled at the weekend in Lagos. This is coming barely three months after the brand was adjudged the most admired brand of African origin by Consumers in a brand rating coordinated by South Africa based Brand Leadership in conjunction with Johannesburg Stock Exchange (JSE)
Brand Nigeria, the Agency that coordinated the survey in Nigeria, in its report lauded the efforts of the handlers of the Dangote Brand because this is the first time a Nigerian brand would be achieving the feat since 2013.
Unveiling the list of the top 50 brands at an event attended by top executives of leading corporate organizations in the country as well as stakeholders in Marketing and Advertising Industry, Mr. Taiwo Oluboyede, the Head of Brand Nigeria explained that 46 percent of the top brands amounting to 23 are Nigerian brands.
Giving the highlights of the brands rating, he stated that Promasidor Nigeria Limited emerged the highest gainer jumping 15 points from last year, the followed by the trio of BUA, Nine Mobile and Olam all of which moved 12 points from last year position, while seven brands, Conoil, Channels TV, Union Bank, Access Bank, Chi, Toyota, and GTBank maintained their positions.
He stated further that Fidelity bank came as a first entrant this year and Stallion Group making a fresh return to the top 50 brands this having exited before.
The top 50 brands in Nigeria, Soboyede maintained are the brands that have succeeded in delivering their promises to the consumers. “They are fast growing in value and they are the drivers of our economy. The top brands this year are those that have been able to analyse needs, see opportunities by creating solutions to them and communicating same to the consumers.
“They have also become so good at it that the consumers often refer to them with the name of the need they meet that is their products or services. These brands have found how to deliver something special often times.”
Giving insights into how the evaluation of the top 50 brands was carried out, Soboyede said: “we used the Brand Strength Model (BSM index). It is a model that measures a brand’s ability to deliver on its promise to the consumers from the consumer’s point of view. The model uses basic qualitative elements and there are seven variables that goes into the BSM model”.
According to the variables starts with a test of people’s knowledge and affinity with the brands operational in Nigeria. We had a top on the mind survey where people tell us brads that easily come to their mind or brand they can recall.
“Other variables in the model are innovation-this is a test how innovative a brand service delivery is; Quality-this checks some factors that enhance consumer’s confidence in product delivery; Category Leadership-this is a classification of brands within their industry; Online engagements-this checks how active the brand’s online platforms are and how engaging it has been from last evaluation; National Spread-this checks operational presence of a brand across the country.”
Chief Corporate Communication Officer of the Dangote Group, Anthony Chiejina said the management was not surprised at the ranking because the company has continuously deepened and delivered on its core values is to be a world-class enterprise that is passionate about the quality of life of the people and giving high returns to stakeholders.
“And this philosophy is driven by values, which include customer service, entrepreneurship, excellence and leadership. In any of our subsidiaries, the focus is to provide local, value-added products and services that meet the ‘basic needs’ of the populace. Through the construction and operation of large-scale manufacturing facilities in Nigeria and across Africa, the Group is focused on building local manufacturing capacity to generate employment, prevent capital flight and provide locally produced goods for the people.
“The expansion of our business especially the Cement which has operations in 14 African countries including Nigeria, Benin, Ghana, Senegal, South Africa and Zambia, among others has added to the popularity of our company and the products, Mr. Chiejina stated.
It would be recalled that back in July, the Dangote brand came atop in the ranking of 100 best brands in Africa themed “Brand Africa:100”, the sixth edition announced in Johannesburg, South Africa.
The Brand leadership in the ranking list said of Dangote brand “Nigerian industrial brand Dangote is the number one African brand recalled when consumers are prompted about the continent (Africa) of origin while the South African telecommunications brand MTN is the number one African brand spontaneously recalled irrespective of the continent of origin.
The United States sports and fitness brand, Nike, is the overall brand in Africa spontaneously recalled by consumers. The Brand Africa 100 ranking is based on a survey among consumers 18 years and older, conducted in 23 countries across Africa. The countries, representing all African economic regions, collectively account for 75% of the population and the 74% of the GDP of Africa.
African brands rose slightly to account for 17% of the Top 100 brands in Africa, non-African brands retained their firm position in Africa with 83% share of the Top 100 most admired brands in Africa. Brands from Europe leads the table with 40%, North America at 24% and Asia 19%. West Africa 6% with only Nigerian brands and Southern Africa 6%.
The Top 100 is dominated by technology and electronic brands (29%), consumer (non-cyclical) (19%), apparel (15%), automobile (8%), food (7%) and sports & fitness (5%) categories are the top categories.
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Zimvest Economy Conversations: Financial Experts Call for Reorganization of Nigeria’s Market Architecture
Stakeholders in the Nigerian Capital market, Asset Management, and Banking Industries have called for a rethink of the nation’s economic philosophy and a reset of the financial market architecture. This was part of the major takeaways from the “Zimvest Economy Conversations”, a thought-leadership series of Digital Private Wealth and Investment Management Firm, Zimvest (Zedcrest Investment Managers) held on Saturday, June 20, 2020.
Giving the opening remark during the virtual event, Business Head of Zimvest, Gbenga Adigun, noted that investors are gravely concerned with investment returns in light of the current low yield environment while financial institutions are thinking of how their product development and service delivery should evolve with the changing needs of investors.
Bola Onadele Koko, CEO of FMDQ Group while delivering the keynote speech on the event theme “The Economic Landscape and Investor Preferences in Post-pandemic Africa”, talked about the toll the growing pandemic has had on African markets. He laid emphasis on the slow down in key segments of the economy including the financial markets, tourism, remittances, and foreign direct investments. He called for a rethink of Nigeria’s economic philosophy with clarity from the fiscal policymakers which will be critical for gaining investors’ confidence.
According to him, “Now is the time to develop new and ingenious ways to develop and drive the Nigerian financial market and in the continent at large. Private capital will especially be more essential as recent shocks have shown the limits of Governments’ abilities particularly in developing countries”, he said.
The capital market leader also stated that FX reforms will be critical for the Nigerian economy at this point; noting that trading activity in the Nigerian Fixed-Income and Interbank Currencies market is down by 55% due to economic slowdown linked to the Covid-19 pandemic.
All panelists in this first episode of the thought-leadership series pointed out that most investors were affected by the pandemic and are looking for further ways to diversify their portfolios that may end the year on a negative real return.
Speaking during the panel session, Abiola Adekoya, Wealth Expert and Ex-CEO at RMB Securities, stated that one of the key things that investors are concerned about in this era is the need for diversification, more liquidity, and higher investment returns.
In her words: “A lot of investors have been focused on one product and this pandemic has shown that that is not enough. The nascent interest in alternative assets has shown that there is strong liquidity in the overlooked retail space and Investment managers should pay keen attention and develop alternative assets products, and reduce the reliance on the traditional Fixed income, Money markets, and Equity offerings.
Buttressing Abiola’s position on alternative assets, Esiri Agbeyi, Partner and Head Private Wealth Services, PwC Nigeria, emphasized the need for investors to take keen interest in private equity and other alternative assets investments. She shared a PWC survey on Family Offices. The survey revealed that 63% of family businesses leaned towards private equity as an investment portfolio. Local pools of private capital are important to drive economic development
Onome Komolafe, Divisional Head of Central Securities Clearing System (CSCS), stated the need for improved product development and differentiation, clear market segmentation, and smart communication as tools that financial services firms can deploy in evolving with the changing consumer behavior. She also pointed to premium service delivery and technological innovation as crucial to the democratization of investment opportunities in Africa.
The Group Executive, Treasury & Financial Institutions at First Bank, Ini Ebong, pointed out the present opportunity available for investors, regulators, institutions, market practitioners to reset Nigerian financial market architecture. He noted that this opportunity presents itself mostly around periods of crisis.
According to him, as markets develop, the investing public becomes more able to embrace risk and go for higher return instruments outside traditional bank-based deposits.
“If you want high returns on investment, you must be willing to take on more risky investment products”, said Adetoun Dosunmu, Treasurer at FBN Merchant Bank. “Giving the highly specialized nature of investing, working with a regulated fund manager will be most beneficial to the investor in the long run and would protect against fraud and sharp practices from the teeming number of platforms offering untested investment opportunities”.
During his closing remark, the Founder of the Zedcrest Group and the Chief Host of the event, Saheed Adedayo Amzat, CFA, called on the Nigerian capital market stakeholders to unite to further capital formation in the country. He sounded a note of warning to Nigerians on suspicious wealth generation platforms.
“Many unsuspecting investors over the last three decades have lost their funds to unregulated institutions that promised unbelievable returns. All stakeholders in the sector need to speak up and inform the unsuspecting public about investment platforms. Our regulators need to do more with the support of all players in the Investment management space”, he opined.
The much-anticipated event lived up to its billings as over 1,150 participants engaged the speakers on investment challenges and opportunities they can tap into post-COVID.
Zimvest, the newly launched Investment Management subsidiary of Zedcrest, plans to be at the nexus of a continuing conversation series around Investment management and economic policy landscapes. The second edition of the series is to be announced soon.
A poll conducted during the event also shows that over 60% of participants prioritized “Capital Preservation” when choosing an investment option. Over 72% were concerned about inflation and exchange rate fluctuations and over 81% were concerned about Proven Track Record, Regulatory Compliance, and Transparency when choosing an investment management partner. The session ended at exactly 1 pm on the day.
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A replay of this session can be watched via:
PSHAN, Aig-Imoukhuede Kick off Design Phase of PHC Adoption Programme
Aigboje Aig-Imoukhuede, in collaboration with the Private Sector Health Alliance of Nigeria (PSHAN) has unveiled a new initiative geared towards significantly improving Nigeria’s healthcare system at the grassroots level.
The innovative strategy, in furtherance of a vision from an earlier stakeholders’ roundtable, entails delivering one Primary Healthcare Centre (PHC) in each of Nigeria’s 774 Local Government Areas (LGAs) at global standards.
Under this private sector driven initiative, universal health access will be provided for low-income citizens residing in rural and urban areas through the Adopt-a-Health Facility Programme (ADHFP).
ADHFP, according to a release issued by the CEO of PSHAN, Mr. Sonny Nwarisi, will be sponsored by a group of Angel Investors and other institutions. These “Angels” will each take responsibility for one or more PHCs – they will build and operate the PHCs for the period of adoption under strict rules and guidelines. The ADHFP is a multi-impact initiative with several benefits including Saving lives, Improvement in health outcomes, Job creation, and Gender empowerment
Mr. Aig-Imoukhuede and PSHAN recently initiated the ADHFP design phase which will be handled by Vesta Healthcare Partners, a global healthcare consultancy firm.
This consultancy engagement is expected to deliver key program components such as Legal and Regulatory Framework, PPP Framework, PHC facility and management standards, Financing Arrangements, Governance Arrangements, Supply Chain Management, and Technology & Systems.
The design phase will involve the active participation of notable development-focused organizations including Global Citizen, ABCHealth, Bill & Melinda Gates Foundation, United Nations Economic Commission for Africa, World Bank, International Finance Corporation (IFC), MTN Nigeria Plc, Dangote Group, Zenith Bank, Access Bank, Stanbic-IBTC Bank, PwC, Cisco, Ford Foundation, Nigerian Stock Exchange, and Flying Doctors Nigeria.
Others include Africa Practice, Cedar Advisory Partners, GBCHealth, Health Federation of Nigeria, Health Law, Eti-Osa Local Government, JNC International Ltd, Johnson & Johnson, Justice in Healthcare, Lagos State Government, MSD for Mothers, Nigeria Economic Summit Group (NESG), ONE Campaign, PharmAccess Foundation, Women-At-Risk International Foundation as well as the Lagos State Government and the SSA to the President on Sustainable Development Goals among others.
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