Equity Bank Crowned As Kenya’s Most Valuable Brand

• Equity Bank’s brand valuation grew, reaching KSh 65.8 billion, positioning it as the most robust brand in Kenya with a top-tier AAA+ rating
• Safaricom came in second after Equity Bank brand displaced it from the glory position it held in 2023; CIC Insurance Group was ranked as the quickest expanding brand in Kenya
• Kenya Airways’ brand rating value increased by 38%, pushing it to stand at KSh 6.4 billion

Equity Bank has been named Kenya’s most valuable brand for the year 2024, recent data has revealed.

Why was Equity Bank listed as Kenya's top brand?

The bank’s brand value has seen a marginal increase to KSh 65.8 billion, affirming its position as the titan of the Kenyan financial sector according to a valuation by Brand Finance.

According to Walter Serem, Brand Finance Director, Equity Bank maintained an impressive Brand Strength Index score of 92.46, due to high ratings in consumer perception areas such as familiarity, consideration, and recommendation,

"Equity Bank's outstanding brand valuation and strength reflect its dominant position in the Kenyan financial landscape. The bank's solid financial performance, combined with stellar brand metrics, equip it well to navigate future challenges and capitalise on opportunities within the ever-evolving financial sector," Serem said,

Safaricom drops in valuable brand list

The year 2024 has also witnessed significant growth in other Kenyan brands. Kenya's leading telco, Safaricom, took the second spot in the list. Safaricom topped the list in 2023 when Equity was ranked in the second place.

Third on the latest list was KCB Kenya Commercial Bank (KCB), followed by M-Pesa, Cooperative Bank, NCBA, Kenya Power, Kenya Airways, Tusker and I&M Bank which closed the top 10 list.

Other notable brands on the list are as follows:

Kenya ranks top among improving world economies

Earlier, a recent report ranked Kenya among the most improving countries in terms of the global business environment.

According to the Business Environment Index done by the Economist Intelligence Unit, Kenya ranked sixth among the top ten improving economies with a score of 0.93.

Proofreading by Nyambura Guthua, journalist and copy editor at TUKO.co.ke