Equity Bank has been celebrated as the most admired financial brand at the 14th annual Brand Africa 100, Africa’s Best Brands rankings. This recognition underscores the lender’s unwavering commitment to driving financial inclusion and socio-economic progress in Kenya. Compared against its peers across the continent, Equity also scooped the top spot in Africa, coming ahead of South Africa’s Standard Bank, Absa and FNB.
The Brand Africa 100 Africa’s Best Brands, rankings celebrate the power and resonance of African brands. The study, conducted by Brand Africa in partnership with Gina Din Group, highlights the growing influence of homegrown brands in shaping the continent’s narrative and driving its economic prosperity.
Unwavering commitment
Commenting on the recognition, Equity Group chief executive officer, Dr. James Mwangi, said : “Equity Bank’s consistent recognition as a leading brand in Kenya and beyond is a testament to its unwavering commitment to its customers and communities. This recognition motivates us to further our mission of transforming lives by driving financial inclusion and sustainable development across the African continent that delicately balances profits, people and planet.”
Equity was also ranked among the most admired brands doing good for society, environment and people. The announcement comes on the heels of Equity Group’s recent launch of its 2023 Sustainability Report, which details the institution’s evolved ‘tri-engine’ approach to sustainability. This holistic model focuses on social, economic, nature, and environment, all working in unison to drive a sustainable business model. This strategy reinforces Equity’s dedication to not only providing financial services but also creating a positive and lasting impact on the communities it serves.
Equity’s legacy of resilience, agility, and self-disruption has been instrumental in its success. By consistently providing relevant and innovative products and services, proactively engaging stakeholders, and embracing new ways of working, Equity has solidified its position as a leader in the financial services sector.
Top five
Despite a strong belief in Africa’s potential – with 56% of Kenyans expressing faith in the continent – only 26% of the most admired brands in Kenya are African. According to Brand Africa, European brands currently dominate the Top 100, representing 30%, followed by African brands (26%), North American brands (22%), Asian brands (20%), and Oceania brands (2%). Kenya has also been recognized for its positive contributions to the continent, ranking among the top five countries alongside South Africa, Nigeria, the United States, and China, according to the Brand Africa report.
“Kenya is one of the continent’s leading nation brands,” says Thebe Ikalafeng, Brand Africa chairman and founder. “The results of the rankings demonstrate the diversity and complexity of the Kenyan market – and the strength of the local brands which drive its economy and identity.” Gina Din, founder and chairman of Gina Din Group observed : “Brand Africa’s latest research across 31 countries underscores the unstoppable momentum of a brand-led renaissance that truly reflects the continent’s limitless potential.”
The Brand Africa 100 Africa’s Best Brands, has been the flagship initiative of Brand Africa since 2011. The rankings are the most authoritative study on brands in Africa, covering thirty countries that account for over 85% of the population and over 85% of the GDP of Africa.
This latest recognition further cements Equity’s position as a global financial powerhouse. In March, the lender was ranked the ‘world’s second strongest financial brand’ by Brand Finance, a leading brand valuation consultancy.
