Business
Again, Dangote Retains Most Admired Brand in Africa Award
For the sixth consecutive year, the Dangote brand has been adjudged as the Most Admired African Brand among top 100 brands in Africa.
It was gathered that Dangote emerged the most Admired African when respondents were prompted to recall an African brand and was specifically followed by the telecommunication outfit, MTN in the second position and the Digital Satellite Television (DSTV) coming third.
The brands thus by nationality means that the Dangote, Nigerian leads MTN and DSTV, both South-Africa.
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 three years.
The category was 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, retained 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 percent of the Top 100 most admired brands in Africa as non-African brands entrench their position in the continent.
Founder/Chairman, Brand Africa, Thebe Ikalafeng, expressed concern that despite optimism with the progress of the African Continental Free Trade Area (AfCFTA) and other initiatives to drive African initiatives, African brands still regressed 20 percent from a 10-year high of 17 percent to 14 percent share of the Top 100 most admired brands in Africa.
He said, “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.
“Nonetheless, this is the state of brands in Africa, and an urgent need to build trust in Made in African brands.”
Director, Research, GeoPoll, Bernard Okasi, on the outcome of the survey explained thus, “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”.
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 Dangote brand generates strong nationalistic impressions and powerful feelings across the Continent in terms of industrialization, self-sufficiency, prosperity, power and production.”
He maintained 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.
President and Chief Executive of Dangote Industries Limited (DIL), Aliko Dangote, has announced plans for the Aliko Dangote Foundation (ADF) to collaborate with state governments to empower vulnerable women across Nigeria through participation in the Dangote Petroleum Refinery and Petrochemicals Limited (DPRP) Initial Public Offering (IPO).
Dangote made the announcement in New York during the 81st United Nations General Assembly (UNGA) while responding to a question from the Secretary to the Yobe State Government, Dr. Goje Mohammed.
The discussion focused on how partnerships between government and the private sector can help conflict-affected communities, particularly widows, build sustainable financial futures through investment opportunities.
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According to Dangote, the Foundation will work closely with state governments to ensure that women from vulnerable groups, including widows and victims of conflict, can take advantage of the refinery’s share offering and begin building long-term wealth through equity ownership.
The initiative is designed to expand access to Nigeria’s capital market by giving women who might otherwise be excluded the opportunity to become shareholders in one of Africa’s largest industrial enterprises.
Speaking on the programme, Dangote revealed that the Foundation plans to provide additional support to participating women by donating shares to complement their investments.
“We are partnering with state governments to ensure that widows and other vulnerable women are able to buy shares in the refinery,” he said.
He explained that women who purchase shares under the IPO will receive an additional allotment of shares from the Foundation, helping them establish a long-term financial asset.
“Beyond enabling them to buy shares, the Foundation will also support them by donating additional shares that they can hold as savings for the future,” Dangote noted.
The programme targets up to two million women nationwide, making it one of the largest financial inclusion and women’s empowerment initiatives linked to Nigeria’s capital market.
“We are looking at reaching about two million women through this initiative,” he added.
The proposed intervention forms part of the broader objectives of the Dangote Refinery “People’s IPO,” which seeks to democratise ownership of the landmark refinery and enable more Nigerians to share in the value created by one of the country’s most significant private-sector investments.
The initiative is expected to have particular significance for conflict-affected states such as Yobe, where many widows and vulnerable households continue to face economic challenges resulting from years of insecurity. By facilitating access to investment opportunities, the partnership aims to provide a pathway to sustainable wealth creation and long-term financial security.
Dangote emphasized that collaboration between the Foundation and state governments will create a structured framework for supporting vulnerable women to participate in the IPO, reinforcing the role of investment and equity ownership as tools for economic empowerment, financial inclusion and social development.
Through this initiative, the ownership opportunity presented by the Dangote Refinery IPO will be extended to some of Nigeria’s most vulnerable women, helping them build assets, secure their futures and participate directly in the growth of a landmark national enterprise.
The Nigerian Exchange Group (NGX Group) has expanded access to its NGX Invest platform with the launch of a WhatsApp subscription channel.
Biztellers reports that it provides investors with an additional, convenient way to participate in public offers.
A statement from the company has it that investors can begin the subscription process by sending “Invest” to NGX Invest on WhatsApp at +234 812 731 9521. They can then follow the prompts to view eligible offers and complete the required subscription steps without downloading a separate application. As part of the process, investors will select a stockbroker through whom their application will be processed, ensuring that brokers remain an integral part of the investment journey.
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The new channel extends NGX Invest’s growing distribution ecosystem, which connects issuers to investors through more than 100 distribution channels, including stockbrokers, banks, fintechs, mobile operators and other financial institutions via API connectivity.
By integrating WhatsApp into NGX Invest, the NGX Group is reducing friction in the investment process and bringing primary-market opportunities closer to investors through a platform they already use every day. For issuers, the integration provides an additional route to reach a broader pool of potential investors and support more efficient capital raising.
The development forms part of NGX Group’s broader strategy to use technology, partnerships and open distribution infrastructure to widen participation in Nigeria’s capital market.
Security remains central to the design of the investor journey. While WhatsApp provides the interface through which investors can access the service, subscriptions are processed through NGX Invest’s secure, regulated infrastructure. Investors are encouraged to interact only with the official NGX Invest WhatsApp number and should never share passwords, PINs, OTPs or other sensitive credentials with third parties.
As digital participation in Nigeria’s capital market grows, NGX Group remains focused on ensuring that increased access is supported by secure, transparent and regulated market infrastructure. The addition of WhatsApp combines the convenience of a familiar consumer channel with the safeguards required for participation in regulated public offers.
With WhatsApp now part of its distribution ecosystem, NGX Invest is further expanding the infrastructure through which investors can discover and participate in primary-market opportunities, while enabling issuers to reach a wider investing public.
The $800m Final Investment Decision (FID) on the Ima Gas Project (IGP) has been warmly welcomed as a major milestone in efforts to unlock Nigeria’s gas resources for industrialisation, job creation and economic growth.
President Bola Tinubu applauded the development, according to the Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a statement in Abuja, on Wednesday.
READ ALSO: Refineries, Exports Lift Nigeria’s Foreign Reserves over $55bn
The statement has it that the project, developed by Nigerian independent exploration and production company, AMNI International, in partnership with TotalEnergies, is expected to produce about 300 million standard cubic feet of gas per day at peak.
It added that the Ima gas resource, located offshore in Oil Mining Leases 112 and 117, was discovered in 1973 but remained undeveloped for more than five decades.
The FID, announced on Wednesday, is expected to pave the way for the development of the resource, which has the potential to provide feedgas for the Nigeria LNG Limited.
According to the statement, Tinubu said the development demonstrated the impact of creating a predictable and competitive environment for investors.
He stated, “For more than fifty years, the gas beneath Ima remained a resource with enormous potential, but potential alone does not create jobs, finance businesses or improve the lives of our people.
“Our responsibility has been to create the conditions that turn Nigeria’s natural resources into productive investments and economic opportunities.”
The President added, “The Final Investment Decision on Ima demonstrates what is possible when we provide investors with a competitive, predictable and enabling environment.
“We are determined to unlock more of Nigeria’s gas resources to power our industries, expand our exports, create jobs and build lasting prosperity for our people.”
The President said that for decades, Nigeria has had one of Africa’s largest gas resource bases, although significant volumes have remained undeveloped.
He added that this administration’s gas strategy is focused not only on increasing gas production but also on putting the resource to productive use by supporting LNG exports and foreign exchange earnings, providing feedstock for industries, enabling fertiliser and petrochemical production, improving power supply and creating opportunities for Nigerian businesses and workers.
“Natural resources have value only when they are converted into opportunities for our people.
“Our goal is to ensure that Nigeria’s gas powers Nigerian prosperity,” the President said.
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