Stanbic emerges most admired financial brand in Uganda

June 29, 2020 in Companies, Financial Services by Editor

Adengo is flanked by Kagingo and Kanyamunyu after being presented with the Africa Brand award on behalf of Stanbic Bank Uganda.

Stanbic Bank Uganda is the most admired non-Ugandan financial services brand in the country according to Brand Africa.

The Brand Africa Awards were announced during a virtual event hosted by Publics Africa Communications in partnership with Brand Africa. The results were based on the 2020 Brand Africa 100: Africa’s Best Brands research and ranking of brands across Africa and released on Africa Day, 25th May 2020.

Stanbic Bank Head of Corporate Communications Cathy Adengo while receiving the award thanked their customers for making this possible.

She said, “The award is a demonstration that Stanbic Bank’s client-centric approach, continued focus on innovation and commitment to delivering service excellence.  We would like to thank our customers for their unwavering support and through our services continue to deliver on our promise to make their dreams possible.”

The award reflect Stanbic’s  continued success in creating new opportunities for their clients and how the bank has revolutionised the customer experience by making it different, exceptional and unforgettable.

Stanbic recently launched a new brand promise that will unpack its values and offerings mainly in being people-focused, offering smart solutions for entrepreneurship, being at the forefront of useful innovations, doing the right business the right way, partnering with the right people and maintaining a courageous spirit to find new ways to make dreams possible.

The Bank emerged winner after a Brand Africa consumer led survey which sought to establish brand preferences across Africa. The survey was conducted by Geopoll among a representative sample of respondents 18 years and older, in 27 countries including Uganda which collectively represents 50% of the continent, covering all economic regions and accounting for an estimated 80% of the population and the GDP of Africa.

The 2020 survey was conducted between February and April 2020 and yielded over 15,000 brand mentions and over 2,000 unique brands. The results of over 15,000 brand mentions were analysed by Kantar (www.kantar.com) and Brand Leadership (www.brandleadership.com) to create a weighted average score and rankings for Africa and the individual countries.

In the Global Brand Africa 100: Africa’s Best Brands rankings, African brands have dropped to an all-time lowest ranking of 13/100 (13%) in the Top 100 most admired brands in Africa – a 7% fall from last year. Out of the top 100 brands in 2010/11, only half of the brands still appear in this year’s list due to mergers and acquisitions and the obsolescence of many brands.

Nike, Dangote, MTN, GT Bank and BBC are the continent’s standard bearers in their respective categories and overall across the continent.

Only in Zimbabwe (Econet), in Zambia (Trade Kings) and in Tanzania (Azam) do we have a local brand taking the country’s #1 spot overall. In Liberia, an African brand from another country, MTN, takes the #1 spot. But in all the other countries, it is a non- African brand: Nike (11 out of 27), Samsung (4/27), Coke (3/27) and Adidas (2/27) lead the way, with Tecno, Orange and Airtel each dominant in one country.

The announcement featured a panel discussion locally hosted by Joseph Kanyamunyu, Managing Director at Publics Africa Communications, with Amos Wekesa, the founder and managing partner of Great Lakes Safaris Limited and Sarah Kagingo, the Managing Director of Soft Power Communications and the President of Public Relations Association of Uganda.

The trio reflected on the African results overall, Uganda brands specifically and the impact of Covid-19 on local and African businesses.

Established 10 years ago to coincide with the 2010 FIFA World Cup, the world’s biggest single sporting event, the Brand Africa 100: Africa’s Best Brands survey rankings have established themselves as the most authoritative analysis, and metric of brands in Africa.

Thebe Ikalafeng, Founder and Chairman of Brand Africa and Brand Leadership says, “As evidenced by the entrepreneurial spirit that is creating Africa’s first electric vehicle, Kiira, and the leading brands such as Nile which feature in the continental rankings, Uganda and Ugandan brands will play an important role not just in the region but in the continent.”

“The reach and accessibility of mobile across the continent enabled us to survey respondents across a representative sample of countries quickly and effectively, giving us vital and timeous results at a critical time,” said Caitlin van Niekerk, Global Client Development Manager, GeoPoll.

The Brand Africa 100 global results are published in the June issue of the African Business magazine and is available online to subscribers on www.africanbusinessmagazine.com