Latest news with #DangoteCement
Zawya
4 days ago
- Business
- Zawya
Nigeria's banking brands dominate
For the fourth year running, Access Bank is Nigeria's most valuable brand. Accounting for 59% of ranking's total brand value, banks dominate the Nigeria's brand value growth in 2025 Accounting for 59% of the ranking's total brand value, banks dominate Nigeria's brand value growth in 2025. Pictured: Lagos, Nigeria. The top four strongest Nigerian brands are banks, led by United Bank for Africa and First Bank of Nigeria, while Fidelity Bank Nigeria has more than tripled its brand value to become fastest-growing Nigerian brand. Most valuable brands In 2025, Access Bank retains its position as the most valuable Nigerian brand for the fourth consecutive year, having more than doubled its brand value to NGN893.3bn. Dangote Cement (brand value up 74% to NGN562.5bn) holds second place, supported by robust profits and a commanding market presence, while GTCO (Guaranty Trust Holding Company) rises to third, nearly tripling its brand value to NGN524.7bn. Other top banks show solid performances. Zenith Bank (brand value up 80% to NGN 454.8bn) retains fourth, United Bank for Africa (UBA) (brand value up 58% to NGN341bn) drops to sixth, and First Bank of Nigeria (brand value up 168% to NGN289bn) remains in seventh position, all demonstrating resilience despite inflation and currency volatility. Strongest brands Notably, UBA and First Bank of Nigeria are the top two strongest Nigerian brands in 2025, while UBA also ranks as the 13th strongest banking brand globally among the top 500 banking brands. Food brand Flour Mills Nigeria drops to fifth place, despite a 40% increase in brand value to NGN452.9bn. The brand reported strong revenue growth for 2024, driven by higher sales across its food, agro-allied, and sugar businesses, even in the face of Nigeria's tough macroeconomic environment. Further down the top 10, BUA Cement (brand value up 63% to NGN138.7bn) rises to ninth place, while banking brand Stanbic IBTC (brand value up 206% to 229.5bn) climbs from 13th to eighth position. GLO Mobile (brand value up 138% to NGN130.4bn) rises five places to enter the top 10. Meanwhile, beer brand Hero Lager (brand value down 51% to NGN42.1bn ) has dropped from ninth rank to 20th in 2025, reflecting a decline in the Nigerian alcoholic drinks market. Brand strength analysis The Nigeria 25 2025 ranking highlights considerable shifts in the country's strongest brands, with banking brands rising through the ranks to dominate the top 10. This demonstrates a growing recognition of the sector's resilience and adaptability, particularly as financial services play an increasingly crucial role in driving Nigeria's economy forward. United Bank for Africa has risen from ninth position in 2024 to become the strongest Nigerian brand in 2025, with a BSI score of 92.4/100 and a corresponding AAA+ rating, the highest accolade for brand strength awarded by Brand Finance. UBA performs strongly across all key research metrics, earning notably high scores in brand familiarity, preference, and consideration, indicating strong consumer trust and loyalty. Notably, the bank scores exceptionally well on price acceptance, outperforming other leading African peers - such as Capitec in South Africa and Equity Bank in Kenya - on this metric. During this past year, UBA has prioritised digital banking, innovation, and technology investments, which are crucial drivers of brand strength in Africa's banking sector. The focus is aimed at improving the customer experience and deepening engagement with consumers going forward. First Bank of Nigeria has risen from 11th position to second for brand strength, noting a BSI score of 92.1/100 and a corresponding AAA+ rating. The bank excels across key metrics, including familiarity, reputation, consideration, and preference. This improvement reflects its strong focus on innovation, digital transformation, and delivering exceptional customer experiences. First Bank's strategic initiatives have significantly enhanced its market position and brand perception, reinforcing its leadership in the sector. GTCO has fallen from first to third place in brand strength, despite a slight increase in its BSI score to 89.5/100. Meanwhile, Access Bank has moved up to fourth place, rising from 12th in 2024, driven predominantly by improved performance across key research metrics. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Business Insider
5 days ago
- Business
- Business Insider
Top 10 most valuable Nigerian brands in 2025
In 2025, Nigerian banks are not just leading in finance, they're dominating the branding space too. For the fourth year in a row, Access Bank holds on tight to the crown as Nigeria's most valuable brand, Business Insider Africa presents the top 10 most valuable Nigerian brands in 2025. The list is courtesy of Brand Finance. Access Bank holds on tight to the crown as Nigeria's most valuable brand. In 2025, Nigerian banks are not just leading in finance, they're dominating the branding space too. For the fourth year in a row, Access Bank holds on tight to the crown as Nigeria's most valuable brand, more than doubling its brand value to a whopping NGN893.3 billion, according to Brand Finance. Not far behind is Dangote Cement, which surged 74% to NGN562.5 billion, thanks to strong profits and its long-standing grip on the construction market. In third place, GTCO (Guaranty Trust Holding Company) is making big moves, nearly tripling its brand value to NGN524.7 billion, a clear sign of the group's evolving dominance in the financial landscape. But not every story is about growth. Hero Lager, once a rising star, took a hit, its brand value plunged 51% to NGN42.1 billion, sliding from 9th to 20th place, a reflection of the broader slowdown in Nigeria's alcoholic beverage market. On the strength side of things, UBA (United Bank for Africa) is now Nigeria's strongest brand in 2025. With a Brand Strength Index (BSI) score of 92.4/100 and an AAA+ rating, UBA has not only topped the local charts but also earned global respect, ranking the 13th strongest banking brand in the world. The Nigeria 25 2025 rankings show a clear shift: banks are rising fast, occupying more space in the top 10 than ever before. This stresses the increasing importance of financial services in driving Nigeria's economic future, especially in an era where adaptability and resilience matter more than ever. Below are the top 10 most valuable Nigerian brands in 2025: Rank Name 2025 2025 1 Access Bank $559M AAA 2 Dangote Cement $352M AAA 3 GTCO $328M AAA+ 4 Zenith Bank $285M AA+ 5 Flour Mills Nigeria $284M A 6 United Bank for Africa $213M AAA+ 7 First Bank of Nigeria $181M AAA+ 8 Stanbic IBTC $144M AA- 9 BUA Cement $87M AAA- 10 Glo Mobile $82M A
Business Insider
22-05-2025
- Business
- Business Insider
Dangote reveals the FG earns 52 kobo from every N1 generated by his cement company
Aliko Dangote, Africa's richest man, has revealed that the Federal Government of Nigeria earns as much as 52 kobo from every N1 generated by his cement company. Aliko Dangote, Africa's richest man, disclosed that the Nigerian Federal Government earns substantial revenue from his cement company. His cement company operates across over 10 countries and has significantly reduced Africa's reliance on imported cement. Dangote pledged continued investment in Nigeria, highlighting the importance of job creation and societal impact. Aliko Dangote, Africa's richest man, has revealed that the Federal Government of Nigeria earns as much as 52 kobo from every N1 generated by his cement company. He made this known at the Taraba International Investment Summit 2025 in Jalingo. Speaking at an investment forum, Dangote stressed the importance of government support for private enterprises, noting that when businesses thrive, the country benefits significantly through tax revenue and job creation. What Dangote said: "You know, I'm sure it might be shocking to you to know that the federal government of Nigeria, not even the states, makes more money from, for example, our cement business,' he said. For every one naira we turn around, 52 kobo goes to the federal government of Nigeria." Dangote Cement is Africa's largest cement producer, operating in over 10 countries, including Nigeria, Ethiopia, Tanzania, and South Africa. The company has a production capacity of over 51 million metric tons per year, helping to reduce Africa's reliance on imported cement, according to estimates. Dangote used the opportunity to reiterate his long-standing position that while governments are not meant to run businesses, they play a crucial role in creating an enabling environment for enterprises to grow. 'Governments don't have to own businesses to generate income,' he said. 'Have you ever heard of the American government owning an oil block? No, the American government doesn't own an oil block. And they are the biggest producers of oil today in the world. But they make their money through taxes.' He said the only way to grow the economy and create wealth is through the private sector, and that government and businesses must work closely together. Dangote also promised that his company would keep investing in Nigeria. 'We are not going anywhere to invest, this is home. We want to remain at home. We want to keep investing in Nigeria. We want to keep creating jobs. At the end of the day, no one will take a dime to the grave. What gives us true satisfaction as human beings is knowing we've impacted the lives of others," he stated.
Yahoo
13-05-2025
- Business
- Yahoo
Aliko Dangote-Backed Firm Acquires Kenya's Oldest Tour Operator, Betting On Tourism Growth
Africa Travel Investments, a tourism-focused firm with financial backing from Nigerian industrialist Aliko Dangote, has acquired Pollman's Tours and Safaris, Kenya's oldest tour operator. The deal underscores significant private equity confidence in the future of Kenya's tourism sector, a key contributor to the national economy. The Competition Authority of Kenya (CAK) had previously approved Africa Travel Investments' acquisition of 100% of Pollman's issued share capital. According to a CAK statement, 'With regard to the proposed transaction, post-merger, the market share of the merged entity will not change as the target and the acquirer is not in similar business and therefore the structure and concentration of the markets for tour operators in Kenya will not be affected.' This acquisition follows a February investment by Alterra Capital, a private equity fund supported by both Dangote, Africa's wealthiest individual and chairman of Dangote Cement, and American billionaire Dave Rubenstein, into ARP Africa Travel Group, the parent company of Pollman's. According to the CAK, the merger will not impact the competitive landscape of Kenya's tour operator market, which many players, including Bonfire Adventures and Bountiful Safaris, characterize. The regulatory body also determined that the acquisition would not negatively affect jobs or the competitiveness of smaller businesses within the industry. The CAK stated, 'The authority also concluded the deal poses no threat to jobs or small business competitiveness, two of the key public interest concerns under Kenyan merger law. The parties indicated no employment losses would result from the acquisition.' According to Forbes, the Nigerian mogul is worth $23.2 billion. Dangote's extensive business empire includes Dangote Cement, the continent's largest cement producer with operations spanning ten African nations. His investments also extend to fertilizer production in Nigeria and the recently operational Dangote Refinery. The acquisition of Pollman's by a Dangote-backed entity signals a diversification into Kenya's promising tourism market. RELATED CONTENT: Jamaica To Demonetize Old Cotton Banknotes: Here's What You Need To Know Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
BBC News
20-03-2025
- BBC News
Wetin cause di trailer explosion wey claim several lives for Abuja
At least, half a dozen pipo don kpai from explosion wey happen for Karu, one suburb of di Nigeria capital Abuja on Wednesday evening, according to official figures. Eye witnesses tell BBC Pidgin say di number of casualties dey more dan dat. Na around 7:00pm wen residents begin hia explosions like bomb and evribodi fear as dem bin tink say na anoda Boko Haram attack. Remember say di area wia di explosion dey just about two hundred meters away from di Nyanya Bus Park wia Boko Haram fighters bin plant bomb in April 2014 wey kill about 19 pipo. According to accounts by operatives of di Federal Road Safety Corps, FCT Fire Service, and di Councillor wey dey represent Nyanya Ward for di Abuja Municipal Area Council, na one trailer wey carry Dangote Cement cause di accident. "Di trailer driver no gree stop wen VIO (Vehicle Inspection Officers) pipo dey stop am, bicos big trucks no suppose dey go on dis road from 4pm to 9pm," Mathew Danjuma Yare, di Nyanya Ward Councilor, tell BBC Pidgin. "So as e dey try to run, e lose control and start to dey hit-hit cars wey dey for holdup. Na so e catch fire. "Di trailer na CNG (Compressed Natural Gas) e dey use, so as e catch fire, di CNG cylinders start to dey explode. In total na five explosions happen." Yare wwey say dem comot from di scene about 12am Thursday morning, tok say dem evacuate six dead bodi from di spot, but two more later die for hospital. "I no know now weda di number don increase," e tok. However, official statement by di police say na six pipo die, and C.I Mukhtar, di Sector Commander of FRSC FCT, say about 25 pipo get various degrees of injuries. We tink say na bomb - eye witnesses Karu Bridge, di exact spot wia di accident happen na popular busstop along di Abuja-Keffi expressway, so plenty okada pipo dey stay dia to carry pipo as dem dey come down from di buses. Some of dem tell us say di number of pipo wey die dey more dan six. Sunday Okonkwo wey im sister bin injure for leg and also lose her phone for di explosions, tell us say im count six bodies but e believe say di numba pass like dat bicos of how big di fire and explosions bin dey. Also residential houses dey close to di road, and pipo wey live around tok say di explosions bin make dem fear. "If you dey around hia wen dis tins bin dey explode, you to go fear. We tink say na bomb bicos of how loud e dey and how e bin dey shake evriwia," one person wey live near di place tell BBC Pidgin. E even tok say one of di CNG cylinders bin land close to im compound and damage one motor. Dis no be di first time wey accidents involving heavy-duty vehicles dey happen along di Abuja-Keffi road. Authorities bin don ban such vehicles from using di road from 4:00pm to 9:00pm wey be di time di road dey most busy as pipo dey go back from work. But sometimes, some drivers no dey gree obey. "Di easiest solution to dis kind of tragedy na to return to dat time restriction," C.I Mukhtar tell tori pipo. "E no get anywia for di world wia small vehicles and heavy-duty trucks dey ply di same road at di same time." "We go try our best to make sure say we dey enforce dat time restriction so dat even wen incidents happen, di number of human casualties no go plenty." For Councillor Yare, e want di Federal Goment to build a barricade wey go prevent heavy duty trucks from using di road until di time wey goment give dem. 'Emergency workers try well-well' According to witnesses, di time wey e take di Fire Service pipo to reach di scene of di accident dey very impressive. "Immediately I call fire service pipo, e no take long di Karu station pipo come, di Nyanya station pipo come, na dem come call di pipo for town and dem also land very fast," Yare tok. "I give am to dem. Dem really try. Tensions bin dey high dat yesterday so if dem bin come late, pipo for dey throw dem stone in anger, but even bifor pipo start to dey gada, fire service pipo don dey hia." E say di rescue work na joint effort by Fire Service, FRSC, National Emergency Management Agency, Red Cross and Police. As at 9:00am dis Thursday morning BBC Pidgin see all dis agencies as dem dey around to clear di scene and make way for cars to dey pass smoothly. Di cement trailer wey bin cause di fire dey by di side of di road, wit full load of cement but e don totally burn. "We go first evacuate di cement bifor our tow-trucks go comot di trailer for road so dat traffic go dey flow," di FRSC sector commander tok.
