Business

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

Published

3 years ago

June 5, 2023

345 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

FG restricts paracetamol ,16 other products for local manufacturing

The cocoa industry is also shielded; cocoa butter, powder, and cakes, as well as chocolate preparations in blocks or bars exceeding two kilograms, are listed as prohibited items.

Published

8 hours ago

April 18, 2026

OCHEFA

11 Views

• President Bola Tinubu

The Federal Government has totally banned the importation of seventeen products including paracetamol tablets and syrups, metronidazole, cotrimoxazole, and chloroquine from entering into the country through any port of entry.

The Federal Ministry of Finance on Saturday released the latest revised import prohibition list, dated April 1, 2026, under HS Codes 3003.10.00.00 through 3004.90.90.00

Other widely used health products, such as multivitamin capsules, aspirin, folic acid, and various ointments like penicillin and gentamycin, are now restricted to local manufacturers.

Furthermore, refined vegetable oils in retail packs of five litres or less, encompassing soya-bean, palm, and sunflower oils, are prohibited.

However, crude vegetable oil and specific fats like hydrogenated vegetable fats under HS 1516.20.10.00 are permitted to enter the country for industrial use.

In the retail and consumer goods category, the prohibition covers cane or beet sugar in retail packs and chemically pure sucrose containing added flavouring or colouring.

The cocoa industry is also shielded; cocoa butter, powder, and cakes, as well as chocolate preparations in blocks or bars exceeding two kilograms, are listed as prohibited items.

Other household essentials now restricted to local production include tomato paste, whole tomatoes put up for retail sale, and mineral and aerated waters.

The hygiene sector is notably impacted, as all forms of soaps and organic surface-active products (commonly known as detergents) are now barred from importation under HS Codes 3401.11.10.00 through 3402.90.00.00 when intended for retail sale.

Even everyday stationery is affected, as ballpoint pens and their refills are barred from importation, though the government made a specific concession for importing pen tips. Industrial and construction materials were not left out of the revised trade policy.

Bagged cement remains on the prohibited list under HS Code 2523.29.00.00, alongside NPK 15:15:15 fertilizers and similar variants.

The packaging industry faces a continued ban on corrugated paper, paper boards, and cartons, while the glass industry is protected by a prohibition on hollow glass bottles exceeding 150 milliliters in capacity.

Business

MAN Condemns World Bank’s Call for Nigeria PMS imports

MAN, described the April 2026 Nigeria Development Update (NDU) by the World Bank, as ” structurally flawed, counterproductive, and highly detrimental to Nigeria’s industrialization agenda

Published

1 day ago

April 17, 2026

OCHEFA

31 Views

The Manufacturers Association of Nigeria (MAN) urged the Federal Government and the petroleum industry regulators to disregard the recent prescription by the World Bank that Nigeria should open its borders to imported Premium Motor Spirit (PMS) to solve inflationary crisis.

In a position document titled ‘FUEL IMPORTATION PRESCRIPTION AS A RECIPE FOR DEINDUSTRIALISATION AND NATIONAL ECONOMIC RETROGRESSION,’ MAN, described the April 2026 Nigeria Development Update (NDU) by the World Bank, as ” structurally flawed, counterproductive, and highly detrimental to Nigeria’s industrialization agenda.”

Segun Ajayi – Kadir, its Director -General, noted that While we welcome the Bretton Woods institution’s clarification that national energy security is paramount in today’s volatile global climate, we reiterate our fundamental objection to the initial premise that reinstating petrol import licenses is a viable, long-term strategy to avert an inflation spike. It is not, and should not be considered as an option.

The Association emphasised that importation of PMS will undermine domestic refining capacity; contribute to the disruption of the foreign exchange market; disincentivize investment in and expansion of local refining, and truncate the relief that Nigerians have started to enjoy since the advent of Dangote Refinery and other local refineries.

Our Position

The World Bank’s report posited that the suspension of import licenses stifled competition, allowing domestic ex-depot prices to rise, thereby driving up inflation.

This analysis panders to short-term bias and does not take into account the following foundational macroeconomic realities of the Nigerian economy:

The FX Drain and the Major Driver of Inflation

Nigeria’s inflation is fundamentally cost-push and can be aggressively driven by exchange rate volatility.

Therefore, promoting PMS imports means returning to the era of fiercely competing for scarce foreign exchange (FX) to fund foreign refineries. Such depletion of FX depreciates the Naira further.

A weakened Naira spikes the cost of importing critical raw materials and machinery for domestic manufacturers, triggering a far bigger wave of inflation across all sectors of the economy than a temporary 12% differential in fuel pump prices.

Business

CBN introduces money market instrument NOFR

The introduction of NOFR positions Nigeria alongside global benchmarks such as SOFR in the United States, SONIA in the United Kingdom, €STR in the Eurozone, and TONA in Japan, while also complementing Africa’s JIBAR benchmark in South Africa.

Published

1 day ago

April 17, 2026

OCHEFA

34 Views

The Central Bank of Nigeria, in collaboration with the Financial Markets Dealers Association on Friday announced the introduction of the Nigerian Overnight Financing Rate (NOFR) as a new benchmark for the country’s money market.

The disclosure was contained in a press statement issued by the CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali.

According to the statement, the introduction of NOFR positions Nigeria alongside global benchmarks such as SOFR in the United States, SONIA in the United Kingdom, €STR in the Eurozone, and TONA in Japan, while also complementing Africa’s JIBAR benchmark in South Africa.

The apex bank explained that the new rate aligns Nigeria with global standards for short-term interest rate benchmarks and is expected to improve pricing efficiency in the money market

“NOFR was developed to align Nigeria with global best practices in short-term interest rate benchmarks.

It is expected to improve price discovery and transparency while promoting consistent pricing of money market instruments,” it added.