Preparations are in top gear as banking and financial service brands across Africa continent are prepared to storm Lagos Nigeria for the 2020 Africa Banking Brands Awards this week. Majority of these brands come from Nigeria, Kenya, South Africa, Ghana organisers have said.

The awards, which is organised by Africa Brand Magazine is scheduled to hold at Sheraton Hotel Ikeja in Lagos Nigeria on November 19th, 2020

The African Banking Brands Awards is a platform designed to celebrate leadership, innovation and growth of banking brands in Africa. The Award will honour banking and finance brands, payment solutions providers, their CEO’s, products and services and others personalities that have made significant contribution to the growth the industry over the years

Speaking on the survey that gave birth to the awardees, the Editor-in-Chief of Africa Brands Magazine, Desmond Esorougwe said, “The survey yielded over 5,000 banking and financial services brands covering over 100 best banking brands with the final coded data.”   

He said, “Our team calculated a score for each banking brand and created an index that takes into account the sample and population size of each country covered.   

 The Best Banking Brands were further analyzed to ensure there are no duplication and no generic category rather than trading Bank mentioned,” Esorougwe stated.

Esorougwe further stated that the winners would have made outstanding contributions to the development of banking and financial services brands of the continent, the economic aspiration of its citizenry and the transformation of Africa’s image in the International market while displaying high standards of good citizenship, social and environmental responsibilities.

The award will bring together prominent banking and finance personalities, government officials, regulators and other stakeholders.

“The Africa Banking Brands 2020 research represents the most comprehensive Banking Brands study in Africa. The consumer-led survey establishes Best Banking Brands preferences across the continent. The study is independently concluded by The Africa Brands Magazine, Geopoll, the leader in providing fast, high Quality research from emerging market with strategic analysis and insight and Fast Track Brand Communications & strategy-Africa premier Branding Advisory firm,” he said

In the 2019-2020 periods the survey was conducted in 23 countries which cover all African economic regions and collectively represent at least 75% of the population and the GDP of Africa. These countries Best Banking Brands are often the most dominants Banking Brands across Africa or within their regions.                                                                                      

Since 2019, the Best Banking Brands has been using Geopoll multimodal survey platform to collect data via SMS rather than face-to-face method.

Mobile interviewing has proven to be the most effective way to reach Africa consumers because of the high penetration of mobile telephony as a primary mode of communication and increasingly for consumer transition in Africa.

The mobile methodology of a firm large database of respondents across Africa therefore assured a wider reach and expediency in conducting research across the continent, individuals aged 18 and older in the sample countries were asked to report on their Best Banking Brands irrespective of countries of region. In addition, because of their catalytic impact or influential role respondents were further asked to rank their Best Banking Brands.         

As an Africa-focused survey and given the growing number of Africa Banking Brands this new question was introduce specially focusing on identifying the ”Best Africa Banking Brands of the year 2020”