Equity Bank has been named the most admired financial brand in Africa, according to the latest Brand Africa 100 rankings. The accolade comes as the bank continues to expand its influence across the continent, outpacing South African rivals Standard Bank, Absa and FNB.
The recognition, announced at an event in Nairobi on September 4, highlights Equity’s growing prominence in Africa’s financial services sector. The annual Brand Africa 100 study, conducted in partnership with Gina Din Group, evaluates brand strength across 30 countries representing over 85% of Africa’s population and GDP.
Equity Group CEO James Mwangi said: “This recognition motivates us to further our mission of transforming lives through driving financial inclusion and sustainable development across the African continent that delicately balances profits, people and planet.”
The bank’s success comes amid a broader trend of European brands dominating the African market. According to Brand Africa, European brands account for 30% of the top 100 most admired brands in Kenya, followed by African brands at 26%.
Thebe Ikalafeng, Brand Africa chairman and founder, noted: “The results of the rankings demonstrate the diversity and complexity of the Kenyan market – and the strength of the local brands which drive its economy and identity.”
Equity’s recognition follows its recent launch of a “tri-engine” sustainability approach, focusing on social, economic, and environmental factors. This strategy aligns with growing investor interest in companies prioritising environmental, social, and governance (ESG) criteria.
The bank’s performance in Africa contrasts with the broader market, where only 26% of the most admired brands in Kenya are of African origin. This discrepancy persists despite 56% of Kenyans expressing faith in the continent’s potential, according to the Brand Africa report.
Gina Din, Founder and Chairman of Gina Din Group, said: “Celebrating leading brands such as Kenyan giants, Safaricom, Equity and Tusker, is important because they are not only shaping the country and ultimately the continent’s identity and driving its prosperity; but are redefining its global narrative and stature.”
Equity’s success in the African market has also translated to global recognition. In March, the bank was ranked the world’s second strongest financial brand by Brand Finance, achieving a Brand Strength Index score of 92.5 out of 100.
As of the latest financial reports, Equity Group Holdings Plc boasts an asset base of $13.51 billion and a customer base of 20.7 million across its operations in seven African countries. The group’s market capitalisation stands at $1.38 billion, cementing its position as a major player in the region’s financial landscape.
