South Africa is the most valuable nation brand on the continent according to UK-based Brand Finance. South Africa’s recent inclusion in the BRIC economic bloc and the great success which was the 2010 Fifa World Cup, helped to create strong positive perceptions at home and abroad.
“This honour underlines the progress the country has made,” said Anitha Soni, chairperson of the International Marketing Council of South Africa (IMC).
Egypt is the second most valuable nation brand in Africa, while Nigeria takes third place and is followed by Morocco, Algeria, Angola, Tunisia, Ghana, Kenya and Libya.
Brand Finance pointed out that the sophistication of infrastructure is what makes Africa’s best three nation brands some of the world’s serious competitors.
Hosting the 2010 Fifa World Cup helped South Africa set up some impressive facilities, from which it’s poised to benefit from in future.
And the World Cup itself did wonders to enhance the country’s image. “The world saw us and saw what we can do,” said Soni.
Joining the BRIC economic bloc – previously comprising Brazil, Russia, India and China – has come at the right time for South Africa, which is bracing itself for further economic growth. With the inclusion of South Africa, the group is now referred to as BRICS.
The IMC is now aiming to make the country one of the top 20 most valuable nation brands in the world. South Africa is currently in 41st position.
According to Brand Finance’s Global Nation Brands League, the top three most valuable nation brands at the moment are the US, Germany and China respectively. Brazil and India are also in the top 10.