Six out of ten fastest-growing nation brands in the world come from Africa, according to the latest Brand Finance Nation Brands report.
The Democratic Republic of the Congo, Egypt, Kenya, Tanzania, Ethiopia, and Ghana have all recorded outstanding growth between 28% and 38% year on year.
South Africa and Nigeria are ranked 49th and 50th in the world respectively.
The Brand Finance report measures the strength and value of 100 leading countries using a method based on the royalty relief mechanism employed to value the world’s largest companies.
David Haigh, CEO of Brand Finance, said, “Starting from a low economic base and still troubled by political instability, Africa is nonetheless beginning to demonstrate its true potential. Following in the footsteps of Asian tigers with remarkable advances in this year’s ranking, African lions are the future of global economic growth.”
In spite of fast brand value growth among other African nation brands, South Africa and Nigeria remain the continent’s most valuable, with brand values at US$207 and US$203 respectively.
Jeremy Sampson, Managing Director of Brand Finance Africa, commented, “Ranked 49th and 50th in the world, South Africa and Nigeria are still the main powerhouses of the African economy, but compared to other fast-growing African nation brands, look like two lions that have lost their roar. As South Africa struggles to recover from the mismanagement and criminality of the Zuma years, it is also in danger of being overtaken by Nigeria.”
Every year, Brand Finance values the world’s biggest nation brands and the 2018 edition was calculated in United States dollar with a valuation date of July 1, 2018.
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