Brands: Nigeria Overtakes South Africa In Ranking

Nigeria has overtaken South Africa as the highest-ranked African country. While Nigeria is in 40th position, South Africa is in 47th position. BDLive reports that Nigeria has, however, recorded a brand value loss, down 15 per cent to $217 billion as a result of the near halt in economic activity, lower oil export volumes and a steep drop in oil prices.
 
South Africa, on its part, has lost 26 per cent of its brand value as its economy continues to contract, exacerbated by the Covid-19 outbreak. The pandemic has wiped more than $13-trillion off the top nation brand values, according to a recent Brand Finance report. Only 14 African nations feature in its “Nation Brands 2020” ranking of the 100 most valuable nation brands, and only two featured in the top 50. Ethiopia, on the other hand, has emerged as the shining star of the continent, growing its nation brand value 19 per cent to $61 billion, according to the report. 
 
Brand Finance Africa, MD Jeremy Sampson, says despite many African countries being praised for their responses to the pandemic, which led to fewer cases and deaths than many other nations experienced, this has not protected African economies from the widespread and severe damage that has ensued…
 
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https://www.newtelegraphng.com/brands-nigeria-overtakes-south-africa-in-ranking/