Africa’s top brands boom as banking, telecoms and retail Power $62.6bn surge

• Banking, telecoms, and retail drive the value of the top 200 African brands
• Tusker: Strongest African brand with a BSI score of 97.9/100 and an AAA+ brand strength rating
• 119% brand value surge: Seplat Energy is Africa’s fastest-growing brand
• M-PESA leads in ESG engagement among African brands
• 14 new African brands enter this year’s ranking

Africa’s top 200 brands have grown by 11% to reach a combined value of $62.6 billion in 2026, driven by strong performance across the banking, telecoms and retail sectors, according to the Africa 200 2026 report by brand valuation consultancy, Brand Finance.

South Africa continues to dominate Africa’s brand landscape, accounting for 71% of total brand value, with 104 brands worth $44.6 billion, driven by the scale and sophistication of its banking, telecoms and retail sectors and home to all the top 10 most valuable brands in this year’s ranking.

While MTN maintains its position as Africa’s most valuable brand for the 13^th consecutive year, the gap separating MTN from second-placed Vodacom and third-ranked Standard Bank has narrowed significantly. At its peak in 2022, MTN was 100% more valuable than Vodacom and 156% more valuable than Standard Bank.

By 2026, this lead had narrowed to just 6% and 13% respectively, signalling intensifying competition at the top of the ranking.

Emerging African brands

Beyond this, a tier of emerging regional markets is gaining ground: Morocco’s 13 brands contribute just over 7% ($4.5 billion), led by Attijariwafa Bank (up 20% to $1.3 billion), Egypt holds 6.6% ($4.1 billion) with 25 brands, anchored by National Bank of Egypt (up 10% to $788 million), while Nigeria accounts for 5.5% ($3.4 billion), driven by strong growth from Seplat Energy (up 119% to $135 million), the fastest-growing African brand.

Kenya’s 15 brands contribute around 4% ($2.6 billion), and continue to outperform on brand strength, with Tusker ranked as Africa’s strongest brand. Overall, Africa’s brand landscape remains highly concentrated but is showing increasing momentum across key regional markets.

MTN remains Africa’s most valuable brand for the 13^th year running, with its brand value holding steady at $2.9 billion, supported by sustained growth in data and fintech and consistent execution across its 16 markets. With over 307 million subscribers, the brand continues to scale its reach and relevance.

Vodacom ranks second, with its brand value rising 9% to $2.8 billion, driven by geographic expansion into Egypt and Ethiopia and growing contributions from digital platforms such as VodaPay, M-Pesa, and Vodafone Cash, reinforcing its evolution into a broader digital ecosystem player.

Standard Bank places third, with a 19% brand value increase to $2.6 billion, underpinned by strong performance in corporate and investment banking, increased fee and trading income, and continued investment in technology infrastructure, enhancing client experience while strengthening brand visibility through high-profile partnerships.

Expanding across borders

“This year’s Africa 200 ranking reflects the growing confidence of Pan‑African brands. Many of the continent’s most valuable brands are no longer defined solely by their domestic markets. They are expanding across borders, exporting African expertise, and increasingly competing with global players on equal footing,” said Jeremy Sampson, chairman of Brand Finance Africa.

“This evolution carries significance beyond commercial success. Strong African companies not only create shareholder value, but also strengthen the continent’s economic narrative, support intra‑African trade, and enhance Africa’s standing on the global stage. The progress is clear: intra-African trade accounted for just around 3% in the late 1950s, compared to nearly 20% today, with momentum continuing to build.”

Africa’s strongest brands

Tusker ranks as Africa’s strongest brand, achieving a Brand Strength Index (BSI) score of 97.9/100 and an AAA+ rating. Its leadership is driven by exceptional performance across familiarity, preference, and reputation, reflecting deep cultural resonance and strong emotional connection with consumers in its home market, supported by consistent brand building and enduring loyalty.

Checkers ranks second with a BSI score of 97.0/100 and an AAA+ rating, underpinned by a compelling blend of credibility and a premium value proposition focused on quality, innovation, and convenience. This positioning is further strengthened by Shoprite Group’s scale and advanced digital capabilities, which continue to expand customer reach and enhance engagement.

Clicks follow closely in third, also achieving an AAA+ rating with a BSI score of 96.6/100, driven by high levels of trust in the health and beauty category. Its performance is supported by the continued expansion of its omnichannel ecosystem and the success of its ClubCard loyalty programme, enabling more personalised offerings and fostering sustained, long-term customer relationships.

Seplat Energy is Africa’s fastest-growing brand in 2026, with its brand value soaring 119% to USD135 million, rising 46 places to 91^st. Growth is driven by strong financial performance, with revenue increasing 204% in the first nine months of 2025, supported by higher production and asset integration.

Its repositioning as an ‘Energy Transition Champion’, alongside projects such as ANOH, has strengthened its role in Nigeria’s gas-led energy transition and broader sustainability agenda.

Other notable brands in the Africa 200 2026 report

• Castle (South Africa) – ranks 16^th
• Old Mutual (South Africa) – ranks 20^th
• Equity Bank (Kenya) – ranks 31^st
• Access Bank (Nigeria) – ranks 34^th
• Kenya Commercial Bank (Kenya) – ranks 42^nd
• Safaricom (Kenya) – ranks 45^th
• Flour Mills Nigeria (Nigeria) – ranks 55^th
• Springboks Rugby (South Africa) – ranks 80^th

14 new brands entered the Africa 200 report for 2026

1. Savanna (South Africa) – ranks 14^th
2. OCP Group (Morocco) – ranks 30^th
3. Valterra Platinum (South Africa) – ranks 51^st
4. Yas (Tanzania) – ranks 61^st
5. SANRAL (South Africa) – ranks 84^th
6. FCMB Group (Nigeria) – 125^th
7. Ovio (Egypt) – ranks 149^th
8. ALEXBANK (Egypt) – ranks 152^nd
9. Mixx (Tanzania) – ranks 163^rd
10. RAYA Auto (Egypt) – ranks 165^th
11. AVI (South Africa) – ranks 191^st
12. CIC Insurance Group (Kenya) – ranks 195^th
13. Gulf Bank Alegria (Algeria) – ranks 196^th
14. Jubilee Holdings (Kenya) – ranks 200^th

Sustainability perceptions

The 2026 Sustainability Perceptions Index reveals which brands are perceived to have the strongest commitment to sustainability globally, the evolving role of sustainability in driving demand, and the substantial value tied to sustainability for the world’s biggest brands.

M-PESA’s sustainability credentials demonstrate how strong ESG performance can deepen trust and support long-term brand value. In 2025, M-PESA achieved a 99% recycling rate according to Safaricom’s Sustainable Business Report, collecting 190 tonnes of e-waste and 62 tonnes of plastic through M-PESA Green Points. This programme rewards users for eco-friendly actions.

Socially, the brand has strengthened financial inclusion in underserved areas, improving access to education and healthcare. From a governance perspective, M-PESA has also helped identify illicit activity, including poaching and money laundering linked to transactions on its platform.

Safaricom, Kenya Commercial Bank, and Tusker from Kenya, alongside Woolworths from South Africa, also score strong sustainability perceptions among African brands.

To read the overview of the Brand Finance Africa 200 2026 Report, click here.