Business

Dangote Becomes Most Admired Brand In Africa for the Sixth Consecutive Year

Published

3 years ago

June 5, 2023

332 Views

The Dangote brand has become the Most Admired African Brand for the sixth consecutive year, and among top 100 brands in the continent and 2nd in Sustainability brand in Africa among top 100 brands.

As the most Admired African Brand when respondents are prompted to recall an African brand specifically, Dangote was followed by the Telecommunication outfit, MTN in the second position and the Digital Satellite Television (DSTV) coming third, both of South-Africa origin.

The pan-African conglomerate brand was also adjudged as the number one African Pride brand followed by the Ethiopian Airline and MTN respectively.

In a newly introduced category, the Dangote brand came second in Sustainability, by brands doing good for the people, Society and the Environment.

These were announced in Johannesburg, South-Africa on the occasion of the Africa Day marking the 13th Annual Brand Africa 100: Africa’s Best Brands 2023 rankings of the Top 100 most admired brands in Africa based on a survey and rankings conducted by Geopoll, Kantar and Brand Leadership, across 32 African countries that account for more than 85% of the continent’s GDP and population.

Brand Africa in its statement announcing the ranking disclosed that in a new category of brands that are doing good for people, society and the

environment, inspired by business shifting from profit to purpose, MTN and Dangote as African brands came first and second respectively while Unicef

emerged as the number one NGO and Coca Cola emerged as the number one non-African brand.

In the category specific ranking of the Top 25 financial services brands, Africa’s

oldest banking group, Standard Bank surged to the number one position of the most admired brand in Africa, displacing GTBank, which had led the rankings for the past 3 years, but is reeling from recent UK regulatory issues, service challenges and a tough competitive environment. The category is dominated by South African (6) and Nigerian (6) brands which account for 48% of the rankings, with the USA (4), led by VISA, at 16% percent, making up 64% of the Top 25 brands.

In another category specific ranking of the Top 25 media brands, DSTV, the consumer brand of the Multichoice Group, retains its dominant ranking ahead of BBC and CNN as the most admired media brand in Africa. Consistent with previous rankings, non-African media dominate the continent, accounting for 76% of the Top 25 brands.

Brand Africa disclosed that Dangote retained the number one spot for the 6th time despite African brands slipping to 14% of the Top 100 most admired brands in Africa as non-African brands entrench their position in the continent.

Thebe Ikalafeng, founder and chairman of Brand Africa expressed concern that despite optimism with the progress of African Continental Free Trade Area

(AfCFTA) and other initiative to drive African initiatives, African brands still regressed 20% from a 10-year high of 17% to 14% share of the Top 100 most admired brands in Africa.

“It is concerning that despite the momentum in operationalizing the AfCFTA, rising internal pride in continent albeit against global economic challenges, that African consumers have reverted to their trusted, mostly non-Africa brands, rather than give African brands a chance,” he stated. “Nonetheless, this is the state of brands in Africa, and an urgent need to build trust in Made in African brands.”

Bernard Okasi, the Director of Research, GeoPoll, which has been the lead data collection partner since 2015 while speaking on the outcome of the survey explained “With an ever increasing number of countries, greater sample size, and the growth of mobile across the continent, more than ever, using mobile continues to prove to be an effective tool to reach and access respondents across the continent”.

The Chief Growth Officer Africa Middle East for Kantar, Karin Du Chenne, who has been the insight lead for Brand Africa since inception in 2010 says, “despite the increased countries and sample sizes which have invariably grown the volumes of brands analysed, the survey continues to yield a very consistent picture of the leading brands in the continent, albeit not yet to Africa’s advantage.”

He added that as a non-profit initiative and to ensure the objectivity and independence of the rankings, the Brand Africa 100 | Africa’s Best Brands research to determine the most admired top-of-mind brands in Africa are not funded by any brand.

Reacting to the last survey affirming Dangote as number one most admired indigenous African brand, Group Chief, Branding and Communication, Dangote Industries Limited, Anthony Chiejina said the awards were well deserved because “the Dangote brand generates strong nationalistic impressions and powerful feelings across the Continent in terms of industrialization, self-sufficiency, prosperity, power and production.”

He stated that this was further strengthened with the recent commissioning of 650,000 bpd Dangote Petroleum Refinery & Petrochemical complex which is a huge industrial complex or frigate. “The brand portends the inevitability of Nigerian global ascendancy and a gateway to regional and continental development”, he added.

Established in 2010, Brand Africa is a intergenerational movement to inspire a brand-led African renaissance to drive Africa’s competitiveness, connect Africa and create a positive image of the Continent.

Business

DR Congo Central Bank Announces Ban on Foreign Currency Cash Transactions from 2027

Published

25 minutes ago

April 10, 2026

Charles Flames

10 Views

The Central Bank of the Democratic Republic of Congo (BCC) has announced plans to prohibit cash transactions in foreign currencies, including the US dollar, starting April 9, 2027, in a fresh attempt to promote the use of the local Congolese franc (CDF) and reduce dollarisation in the economy.

In a statement issued on Thursday, April 9, 2026, the BCC declared that from the effective date, “no person will be authorised to carry out cash transactions in foreign currencies,” and commercial banks will no longer be allowed to import or distribute physical foreign banknotes.

Under the new measure, payments in dollars, euros or other foreign currencies will still be permitted, but only through electronic means such as bank transfers, cards, or mobile money platforms. Cash dealings must be conducted exclusively in Congolese francs.

The BCC’s move aims to strengthen the national currency, enhance monetary sovereignty, and curb the widespread use of the US dollar, which dominates many business transactions in the country despite official policies favouring the CDF.

The Congolese economy has long been heavily dollarised, with foreign currency widely accepted even in everyday dealings.

This is not the first attempt by the BCC to limit dollar use. Previous efforts to ban or restrict foreign currency have largely failed to take full effect, as the dollar remains deeply entrenched in commerce, mining, and daily life across the vast Central African nation.

The announcement comes amid broader initiatives by the central bank, including interventions in the foreign exchange market and efforts to build gold reserves, to support the Congolese franc and reduce reliance on the US dollar.

Analysts and businesses are watching closely to see how the policy will be enforced, given past challenges in implementing similar restrictions in a country where cash remains king and banking penetration is relatively low.

The BCC has urged the public and financial institutions to prepare for the transition and to rely increasingly on formal banking and electronic payment systems.

Further details on implementation guidelines and penalties for non-compliance are expected in the coming months. The public is advised to monitor official communications from the Banque Centrale du Congo for updates.

Business

Crude Oil Prices Drop Below $95 After US-Iran Ceasefire

Earlier, crude prices had surged above $110 per barrel amid fears of supply disruptions as tensions escalated in the Middle East.

Published

2 days ago

April 8, 2026

OCHEFA

34 Views

Crude oil prices fell below $95 per barrel in early trading on Wednesday following a ceasefire agreement between the United States and Iran.

The global oil benchmark fell by about 13% to around $94–$95 per barrel, marking one of the steepest single-day declines in recent years after weeks of war-driven price spikes.

The dramatic selloff came after U.S. President Donald Trump announced a conditional two-week ceasefire, pausing military operations in exchange for the reopening of the Strait of Hormuz—a critical route for global oil shipments.

West Texas Intermediate (WTI), the U.S. benchmark, also dropped significantly to around $95–$96 per barrel, reflecting a broad easing of geopolitical tensions and a rapid unwinding of the war risk premium in oil markets.

Earlier, crude prices had surged above $110 per barrel amid fears of supply disruptions as tensions escalated in the Middle East.

However, the ceasefire has restored some confidence that oil flows will resume, triggering a sharp correction in prices.

Business

Afreximbank Avails US$10 billion to insulate African Energy Producers , Exporters from Gulf Crisis

GCRP is designed to, among others sustain essential imports – including fuel, LNG, food, fertiliser, pharmaceuticals – by providing vital short-term Foreign Exchange (FX) and liquidity to support vulnerable member states.

Published

3 days ago

April 7, 2026

OCHEFA

41 Views

Dr. George Elombi, President and Chairman of the Board of Directors at Afreximbank on Tuesday commended members of the Board for their approval of a US$10 billion Gulf Crisis Response Programme (GCRP) to insulate African and Caribbean economies.

” This crisis response programme is in tune with our DNA. We understand how our economies work and the pain points associated with these transitory crises,” said Elombi.

He emphasised that the intervention will support African countries in adjusting smoothly to the crisis while strengthening their resilience to future shocks through interventions that transform the structure of their economies.

The conflict, which escalated on 28 February 2026, has sent shockwaves through the global economy, with African and Caribbean economies bearing the largest share of the brunt.

Given the significance of the Gulf region as a primary global source of oil, Liquid Nitrogen Gas (LNG), fertilisers, as well as the critical role of the Strait of Hormuz, the outbreak has triggered wider repercussions at a global scale, including adversely affecting African and CARICOM economies.

These impacts specifically affect nations that heavily rely on fuel, fertiliser, and food imports, alongside those exposed to Gulf shipping corridors, investment flows, tourism and remittance inflows.

It further aims to empower African energy and minerals exporters to capitalise on elevated prices and rerouted trade flows, by scaling productive capacity in strategic commodities, through pre-export finance, working capital, and inventory financing.

Additionally, it provides short term relief to African and Caribbean member states whose tourism and aviation industries have been adversely impacted by the crisis.

The programme is also designed to build the medium to long-term resilience of African and Caribbean economies against future shocks by scaling productive capacities for producers and exporters of energy, minerals while accelerating the completion of critical energy, port, and logistics infrastructure projects in African and Caribbean member states, delayed by the conflict.