16 Aug Safaricom tops list of most valuable brands in East Africa
A new quarterly market report by analysts at AfricanFinancials Group has placed Safaricom as the most valuable brand in East Africa in the three months ending June.
The research piece, titled The East Africa & Mauritius Top 30 Companies, estimated the Kenyan telecoms giant’s market capitalisation at US$15.39 billion, ahead of Mauritius Commercial Bank ($1.59 billion market cap) and Equity Bank ($1.53 billion).
Other valuable brands in the shortlist include Tanzania Breweries ($1.38 billion), East African Breweries Ltd ($1.32 billion), KCB Bank ($1.26 billion), Co-operative Bank ($750 million), Tanzanian Vodacom ($744 million), Tanzania Cigarette ($733 million) and Mauritian Ireland Blyth ($633 million).
The report notes that although Safaricom is the most valuable company in the region, the banking industry dominated the list of valuable brands, with 16 banking stocks followed by six manufacturing firms and just two telecom brands.
During the second quarter of 2021, Safaricom’s share price rose 12% to Ksh41.45 ($0.38) per share, with a return on equity of 11.5%, partly buoyed by its Ethiopian entry plan. On a yearly basis, Safaricom’s stock increased by 43% to Ksh41.45 ($0.38) per share on June 30, from Ksh28.65 ($0.26) on June 30, 2020.