Access Bank has once again been recognised as Nigeria’s most valuable brand, according to the latest data from Brand Finance. The 2024 report reveals a remarkable 73% increase in Access Bank’s brand value, solidifying its position as the most valuable banking brand in Nigeria. This marks the third consecutive year that Access Bank has held the top spot in Brand Finance’s annual ranking of the world’s Top 500 Banking Brands.

Brand Finance, the world’s leading brand valuation consultancy, reported that banking brands contributed a substantial 50% of the overall brand value among Nigeria’s top 25 brands. Within the Nigeria 25 2024 ranking, banking brands not only emerged as the most valuable but also the strongest and fastest growing.

Access Bank’s brand value soared to NGN355.3 billion, making it the 31st most valuable brand in Africa according to the Brand Finance Africa 200 2024. This impressive growth is primarily driven by significant increases in interest-based income, reflecting improved revenues and robust financial performance.

Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank, stated: “We are proud to once again be recognised as Nigeria’s most valuable brand. This accolade is a testament to our commitment to excellence, innovation, and sustainable growth. We will continue to focus on delivering exceptional value to our customers and stakeholders, driving positive impact across the communities we serve.”

Toyin Henry-Ajayi, Group Head, Group Marketing & Retail Analytics at Access Bank, who spoke on the brand’s journey at the announcement event, added: “Access Bank’s consistent performance and brand value growth reflects our ability to stay true to our DNA of excellence through every strategic 5-year cycle. Our journey has been one of continuous improvement and adaptation, and we remain dedicated to setting new standards in the banking industry and contributing to the economic development of Africa.”

Access Bank also distinguished itself as the top brand in terms of Sustainability perceptions value, surpassing Flour Mills of Nigeria which ranked second. This underscores the Bank’s dedication to sustainable practices and its leadership in corporate responsibility.

www.accessbankplc.com

Babatunde Odumeru, Managing Director of Brand Finance Nigeria, commented on the resilience of Nigeria’s leading brands: “Despite a tumultuous financial year marked by the Naira plummeting over 30% against the US dollar and soaring inflation, Nigeria’s leading brands have displayed remarkable resilience. These top-tier brands have not only withstood economic pressures, but many have continued to flourish, with 23 of Nigeria’s top 25 most valuable brands achieving brand value growth. We are also increasingly seeing top brands continuing to expand beyond their domestic borders and grow their influence across the continent.”

The values of brands in the rankings are calculated using the Royalty Relief approach, a method compliant with ISO 10668 standards. This approach estimates future revenues attributable to a brand by calculating a royalty rate that would be charged for its use, arriving at a ‘brand value’ that reflects the net economic benefit achievable by licensing the brand in the open market.

• About Access Bank PLC

Access Bank, a wholly owned subsidiary of Access Holdings Plc, is a leading full-service commercial bank operating through a network of more than 700 branches and service outlets spanning 3 continents, 21 countries and over 60 million customers. The Bank employs over 28,000 people in its operations in Africa and Europe, with representative offices in China, Lebanon, India, and the UAE.

Access Bank’s parent company, Access Holdings Plc, has been listed on the Nigerian Stock Exchange since 1998. The Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise, proven risk management and capital management capabilities. The Bank services its various markets through three key business segments: Corporate and Investment Banking, Commercial Banking, and Retail Banking. The Bank has enjoyed what is arguably Africa’s most successful banking growth trajectory in the last 18 years, becoming one of the continent’s largest retail banks.

As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible, and socially relevant, helping customers to access more and achieve their dreams.

www.accessbankplc.com

• About Brand Finance

Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance for more than 25 years, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations of all kinds make strategic decisions.

Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts more than 5,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.

Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on over 5,000 brands, surveying more than 150,000 respondents across 38 countries and 31 industry sectors. Combining perceptual data from the Global Brand Equity Monitor with data from its valuation database enables Brand Finance to arm brand leaders with the data and analytics they need to enhance brand and business value.

Brand Finance is a regulated accountancy firm, leading the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.

…We consider this project CSR: Dangote

President Bola Ahmed Tinubu has described the newly commissioned Oworonshoki-Apapa Expressway as the Tenth Wonder of the World.

This is just as he commended the President of Dangote Industries Limited, Alhaji Aliko Dangote, for his selflessness in actualising the project.

President Tinubu, represented by Senate President Godswill Akpabio, enthused that the 37-kilometer road, which commenced in 2018 by the former administration and completed in 2024, is a win for all Nigerians.

He explained that the importance of Lagos State to Nigeria makes it very vital and as such must work for the benefit of all.

According to him: “Lagos is home to all, I thank Aliko Dangote for coming up with this initiative and in partnership with HiTech have delivered the Tenth Wonder of The World.

“Lagos is not the only state experiencing growth and development under the renewed hope agenda. I also congratulate the Minister of Works David Umahi for his passionate commitment to structural development across Nigeria,” he said.

Speaking on the “extremely poor” condition of the road before December 2018, Dangote stressed that the road “severely hampered the evacuation of goods and restricted access to the markets, paralyzing the shipping and manufacturing industries and disrupting supply chains across the entire economic landscape.

“Before the completion of this road, it used to take two weeks before we get to the port, and in about 18 months, we lost over N60bn in demurrage…The successful completion of this project is an example of the positive impact that can be achieved when the public sector collaborates with the private sector.” Dangote said

“Utilising the visionary framework of Executive Order 007 in Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, the Dangote Group has been able to mobilise capital for the complete refurbishment of the entire 37 kilometers length of Apapa-Isolo-Oworonshoki road and its expansion to 10 lanes.”

Dangote added that the Group was privileged to partner with the Federal Government in the transformative efforts, reaffirming its commitment to national development and prosperity.

He also stated that the scheme must be revisited to make it more viable for the private sector participants. “In this case, we have so far recovered only 40 percent of our investments and the balance is not due until 2027, we consider this project merely as Corporate Social Responsibility.

“We believe that a more commercial interest rate recovery should be allowed given the high cost of capital in the Nigerian fiscal environment,” he said.

In his remarks, Engr Umahi also commended the Dangote Group for delivering a well-executed project, adding that the quality of the Dangote Cement is a testament to the value seen on the road.

“I was once trapped for 8 hours on my way to the airport and so, I understand how terrible the road was. We are celebrating this project today because it was well done and a display of new technology. It is fully completed with solar-powered streetlights.

“In the same vein, the Third Mainland Bridge wasn’t just another rehabilitation work, a road that has been standing for about 40 years… to ensure that our bridges last longer, I’m happy to announce that Mr. President has approved the ban on the excavation of sands 10 kilometers from bridges across Nigeria.”

The Governor of Lagos State, Babajide Sanwo-Olu, represented by his deputy, Obafemi Hamzat revealed that about 20 companies had relocated from the Apapa axis of the state owing to the condition of the road, “…the state of the road is unimaginable. We are grateful to Aliko Dangote, HiTech for the excellent job they did. It used to take over seven hours to drive from one end of the road to the other, it now takes around an hour,” he said.

In line with the theme for the 2024 celebration of Africa Day, “Educate an African Fit for the 21st Century: Building Resilient Education Systems for Increased Access to Inclusive, Lifelong, Quality, and Relevant Learning in Africa”, Access Holdings is celebrating the positives across the continent. This year’s theme is a poignant reminder of Africa’s diversity and the need to address the educational challenges faced across the continent.

Africa is a vast and complex continent of over 1.2 billion people speaking more than 3,000 languages across 54 countries. Despite shared challenges, each nation contributes uniquely to the continent’s rich cultural and historical mosaic. Unfortunately, education remains a significant hurdle. According to UNESCO and the African Union, over a quarter of school-age children in Africa were out of school in 2023, and 90% of children were unable to read or write by age ten. This stark reality underscores the need for urgent educational reforms to equip future generations.

In alignment with this educational drive, Access Holdings will once again host the Access Bank/UNICEF Charity Shield Polo Tournament starting from the Children’s Day Anniversary on May 27, 2024, in Kaduna. This event, which will culminate at the Fifth Chukker Polo & Country Club on June 9, will bring together over 150 school pupils and their teachers for a day filled with sports, art activities, and messages promoting child welfare, such as “Stop Child Abuse” and “Childhood Isn’t Meant to Be a Nightmare.” As the largest charity polo tournament in Africa, this event highlights Access Bank’s commitment to supporting underprivileged children, having donated over N700 million towards building schools and providing social amenities for surrounding communities in the past seven years.

Beyond education, there are numerous aspects of African heritage and achievements that deserve celebration:

1. Angola: Known for its vast oil reserves, Angola is also home to the ancient Tchitundo-Huluvilo Caves, a significant cultural landmark showcasing, prehistoric art.
2. Botswana: Celebrated for its stable democracy established by Sir Seretse Khama, Botswana is also renowned for producing world-class athletes like Amantle Montsho, a former world champion sprinter.
3. Cameroon: Home to the towering Mount Cameroon and the legendary musician Manu Dibango, Cameroon has made significant contributions to global music and boasts rich natural beauty.
4. Democratic Republic of Congo (DRC): Known for its rich copper reserves and the majestic Congo River, the DRC is also the birthplace of Patrice Lumumba, a pivotal figure in Africa’s fight for independence.
5. Gambia: Famous for its beautiful beaches and vibrant culture, Gambia is also making strides in education and tourism, becoming a notable destination in West Africa.
6. Ghana: A beacon of democracy and economic growth in West Africa, Ghana is also celebrated for its rich history, including the Ashanti Kingdom and significant cultural festivals.
7. Guinea: With its rich mineral resources, particularly bauxite, Guinea is also known for its vibrant music and dance traditions that play a crucial role in cultural identity.
8. Kenya: Renowned for its breathtaking landscapes and wildlife, Kenya is a leader in environmental conservation and home to world-renowned long-distance runners.
9. Mozambique: Known for its stunning coastline and rich cultural heritage, Mozambique is also recognised for its vibrant arts scene, including music and dance.
10. Nigeria: Africa’s most populous nation, Nigeria is celebrated for its diverse cultures, Nollywood film industry, and significant contributions to literature and music, including figures like Chinua Achebe and Fela Kuti. Nigeria is also home to Dangote Petroleum Refinery, the continent’s largest petroleum refinery.
11. Rwanda: A symbol of resilience and progress, Rwanda has made remarkable strides in economic development and technological innovation, becoming a model for other African nations.
12. Sierra Leone: Known for its rich history and natural beauty, Sierra Leone is also making progress in education and healthcare, contributing to a brighter future for its citizens.
13. South Africa: Famous for its stunning landscapes and diverse cultures, South Africa is a global leader in mining and a symbol of freedom and reconciliation, epitomised by Nelson Mandela.
14. Zambia: Renowned for its spectacular Victoria Falls, Zambia is also making significant strides in economic development and conservation efforts.

Access Holdings is proud to operate in these African nations contributing uniquely to the continent’s narrative, from historical landmarks to modern achievements in various fields.

As we continue to consolidate the discourse around the 2024 Africa Day theme, the Group calls on Africans to unite, invest in our incredible human resource even as we work to take our rightful place on the table of deliberations of global significance.

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