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Brand Finance Africa Expands in East Africa

02 December 2020
This article is more than 3 years old.

Brand Finance – the world’s leading brand valuation consultancy – is pleased to announce that Walter Serem is the new Regional Manager of the East Africa region of Brand Finance Africa. He assumes the position with immediate effect. Walter joins Jeremy Sampson, Managing Director of the Africa division of Brand Finance, and is based in Nairobi, Kenya.  

Walter has had a long career in marketing, advertising, graphic design, public relations, reputation management, and branding in East Africa.  

On being appointed, Walter Serem, Regional Manager East Africa, Brand Finance Africa commented: “I am delighted to be joining the Brand Finance team at a time when brands have never been more important - their impact ever increasing and embracing most aspects of our day to day lives on a global scale. In Africa, many brands are not measured, monitored, nor leveraged to their full potential. My appointment presents an opportunity to change this.”

David Haigh, CEO of Brand Finance Plc, commented: “As African brands grow in stature both at home and abroad, it is becoming increasingly important for the continent’s companies to understand and manage brand value. Walter’s breadth of experience and focus on helping African brands to succeed, makes him the perfect candidate to spread this crucial message and to help African brands make their mark on the domestic and international stage.”

Jeremy Sampson, Managing Director of Brand Finance Africa, added: “Africa remains very fragmented in brand terms with many - whilst very influential in their home country - having little or no activity in a second or third. As a result, there are no truly Pan African brands. Of the top 150 African brands, in the Brand Finance Africa 150TM ranking: 34 are banks, 25 telcos, 13 beer brands, and 9 insurance. We are finding that banks and insurance brands are in especially competitive positions and often require our assistance. Walter’s knowledge and experience of working in East Africa will be invaluable.”

Brand Finance has recently released the inaugural Africa 150™ report, showcasing the continent’s most valuable and strongest brands. It was a clean sweep for South African brands, which claimed the top 10 spots, with MTN crowned the most valuable African brand, its brand value US$3.3 billion. The report features seven East African brands – six Kenyan and one Ethiopian, of which Safaricom is the most valuable, ranking 12th overall, with a brand value of US$970 million.

In the Brand Finance Nation Brands 2020 ranking, fourteen African nations feature, with Nigeria the highest ranked in 40th position. As with the majority of nations across the ranking, Nigeria has recorded a brand value loss, down 15% to US$217 billion. In contrast, Ethiopia has emerged as the fastest-growing brand on the continent, its nation brand value increasing an impressive 19% to US$61 billion.



Walter Serem
Regional Manager East Africa, Brand Finance Africa
M. + 254 722 444 686

Jeremy Sampson
Managing Director, Brand Finance Africa
M. +27 82 8857300

Media Contacts

Penny Erricker
Communications Executive
Brand Finance

About Brand Finance

Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance for more than 25 years, Brand Finance evaluates the strength of brands and quantifies their financial value to help organizations of all kinds make strategic decisions.

Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts more than 5,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.

Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on over 5,000 brands, surveying more than 150,000 respondents across 38 countries and 31 industry sectors. Combining perceptual data from the Global Brand Equity Monitor with data from its valuation database enables Brand Finance to arm brand leaders with the data and analytics they need to enhance brand and business value.

Brand Finance is a regulated accountancy firm, leading the standardization of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.

Definition of Brand

Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.

Brand Strength

Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.

Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.

Brand Valuation Approach

Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.

The steps in this process are as follows:

1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.

2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.

3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.

4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.

5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.

6 Apply the royalty rate to the forecast revenues to derive brand revenues.

7 Discount post-tax brand revenues to a net present value which equals the brand value.


Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.

The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.

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