Brands take a Covid beating
The reputations of famous SA companies inevitably suffered in the pandemic, but there were also some uplifting surprises in the latest set of reports
Showing the real impact of the pandemic on African business, the total brand value of Africa’s top 150 most valuable brands has declined by $5.5bn (12%), from $45.5bn in 2020 to $40.0bn in 2021.The Africa 150 2021 ranking by consultancy Brand Finance shows how devastating the pandemic has been for the brand value of Africa’s top brands.Lockdowns and travel bans were implemented throughout the year and across the continent, creating uncertainty and affecting brands’ ability to do business as usual, the company says.Brand Finance MD Jeremy Sampson believes regaining value will involve a long slog."African brands will need to search for opportunities to regain lost ground. By embracing new technologies and collaboration, the continent can propel its recovery and bounce back from the extraordinary situation the world has found itself in," he says.That isn’t going to be easy, according to a report in the journal Globalization and Health. It says the pandemic has ushered in a new climate...