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Brand Finance has released its 2023 report for the most valuable and strongest Kenyan Brands. Safaricom has maintained its position as the most valuable Kenyan brand with a brand value of KES 87 billion followed by Equity with a brand value of 65.2 billion, KCB with a brand value of Kes 46.6 billion and MPesa Kes 28.3 billion. Other top Kenyan branks also featured in the most valuable ranking are Co-Operative Bank, Kenya Power and NCBA.
Equity has for the second year in a row been as the strongest Kenyan brand with an elite AAA+ ranking and 92.4 BSI ranking, a 1.6 point jump from last year’s ranking. Other strong Kenyan brands in the ranking include KCB, Safaricom, Co-operative Bank, Tusker and MPesa.
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Every year, leading brand valuation consultancy Brand Finance puts 5,000 of the biggest brands to the test, and publishes nearly 100 reports, ranking brands across all sectors and countries.
In addition to sustainability perceptions, Brand Finance’s research has found that trust is a dominant driver of customer choice when it comes to banking services.
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“Customers are looking for guarantees that they can proceed with full reassurance. Other key drivers include ease of use, excellent website and apps, and great customer service,” says the report.
Regarded as the industry’s most authoritative report of its kind, the Brand Finance Banking 500 report gauges the brand value of the world’s financial institutions through quantitative and qualitative metrics, including brand strength, brand loyalty rate and revenue forecasts.