The combined value of the Kantar BrandZ Top 30 Most Valuable South African Brands 2022 is $34.9bn, representing a 21% increase over last year. This $6bn rise in overall brand value now makes the Top 30 brands roughly equivalent in value to the entire GDP of Cameroon.
Twelve South African brands boast above average growth (>21% rise in brand value). Rising nine positions, Investec (No.16, $700m) is the second fastest riser, followed by retail giant Checkers (No.23, $531m), part of the Shoprite Group that has focused heavily on accelerating its digital transformation.
Reflecting South Africa’s broader economic resilience, the growth in the ranking’s overall brand value was deep and distributed throughout. Although the Top 30 ranking showed a slight decline of -3% in 2021, with only nine brands growing in value, this year the picture is very different. Only two brands show any decline at all, while 28 grew, and 12 grew in value by more than 20%.
Commenting on the reasons behind the growth of South Africa’s most valuable brands, Stina Van Rooyen, Kantar BrandZ Lead, South Africa, said: “2022 has been a banner year for South African brands, with sharp value growth and strategies that seem to be building several brand equity measures. Our top performing brands are focussed on getting their four fundamentals for growth right, which are exposure, function, convenience and experience. Brand managers should continue more of the same: investing in brand equity, expanding to new categories and geographies, and helping young South Africans create a more equitable and sustainable society they desire.”
Brands that are growing in South Africa tend to be highly dynamic, launching new products and services, expanding into adjacent categories and occasionally entering completely different ones. For example, telecom providers are offering payment services, insurers are opening banks, pharmacy retailers are selling their own medical insurance, and alcohol brands are launching fragrances.
Kantar’s global research indicates that this is an excellent strategy for growth. On average, brands that operate in a higher number of categories grew 24.2% in the past year, while those that operated in a single category grew 13.8%. Diversified brands also have much more potential to grow their brand value, with 53% of them achieving above average growth, compared to only 28% of single category brands.
|Rank 2022||Brand||Category||Brand Value 2022 ($M USD)|
|2||First National Bank||Banks||3,500|
|9||DStv||Media and Entertainment||1,325|
|17||Pick n Pay||Retail||642|
|24||Cell C||Telecom Providers||502|
Despite a sharp reduction in advertising spend at the onset of the pandemic, South African brands made a strong return to the market. This has now put them on par with successful global brands.
It is not always about how much marketers spend on advertising, but the quality and efficiency with which they spend. Ensuring that you’re using the right channels and using messages that really connect with your customers can make your marketing budget go further.
Stina Van Rooyen added, “Our research shows that strong brands tend to be more resilient during downturns and return to growth more quickly when good times return. This may help explain the exuberant performance of the Kantar BrandZ Most Valuable South African Brands 2022, which have greatly outpaced the broader economy.”
- Category analysis – Banks, Telecom Providers and Retail dominate the ranking in both value and growth, with a 31%, 21% and 15% share of the overall brand value respectively. Alcohol and Insurance decline slightly.
- Offering something different – South Africa’s top brands scored substantially higher when measured against perceived uniqueness. This difference results from brands working hard to meet the needs of a rapidly digitising populace and expanding their offerings to new categories and geographies.
- Sustainability impact – While globally, sustainability drives 3% of brand equity, in South Africa this number rises to 5% with consumers more motivated by social issues than environmental ones. Brands must learn how to tap into this opportunity to drive additional growth.
- A new generation of consumers – 28% of South Africans are under the age of 15, with 53% of the population under 30. For marketers, connecting with this young demographic is essential to long-term growth. Imbued with a strong sense of social justice, young South Africans are disruptive and innovative at heart. Technology is a means of solving personal and societal problems, while entrepreneurship is the key to a better life.Special Awards
The 2022 Kantar BrandZ Most Valuable South African Brands ranking was revealed at the launch today, Wednesday, 3 August. Click here to watch on demand. Download the report: www.kantar.com/campaigns/brandz/south-africa.
This year’s ranking is based on opinions of 37,500 South African consumers, 820 brands across 53 categories. The ability of any brand to power business growth relies on how it is perceived by customers. Grounded in consumer opinion, Kantar BrandZ analysis enables businesses to identify their brand’s strength in the market and provides clear strategic guidance on how to boost value for the long-term.
The eligibility criteria for the South Africa report:
Kantar BrandZ Lead, South Africa
t. +27 21 657 9500
Marketing Director, Middle East & Africa
t. +27 01 036 0600