A peer review of South Africa’s most trusted companies.
Economic meltdown, consumer loss of confidence, and massive banking failures has been on the front page internationally, and the credit crunch has become an unwelcome household reality. Considering the challenges that South Africa is facing, there is no better time to celebrate the companies that have maintained their stellar reputations.
The Ask Afrika Trust Barometer® sheds light on corporate South Africa by evaluating companies and CEOs- as spontaneously mentioned by directors- on various drivers of reputation and trust. It is the preferred local corporate reputation benchmark as it is relevant to the current business environment. It provides companies with the opportunity to evaluate their reputation against current trends, and determine the impact of these trends on their reputation.
The 2009 winner of the Ask Afrika Trust Barometer®, SAB, has managed to take a winning position three times since the inception of the research in 2005. Their winning performances this year were largely driven by financial wellbeing, as indicated by their success on two key reputation attributes: financial performance, and long-term investment value. SAB obtained the best performance on all the reputation drivers measured, except for innovativeness, which has consistently been the main strength of MTN. The top three performers- SAB, MTN, and Standard Bank- have sustained their position in the top three findings since 2008, and have proven that they are able to retain their good reputations during a time of serious economic challenges.
The winning black-owned and managed company is Mvelaphanda, followed by African Rainbow Minerals, and Kagiso. In this category, MSG Afrika showed a great improvement by rising from 11th to 6th position. Two additional winning categories were created this year. The most trusted asset management company is Allan Gray, and the company with the most respected green initiatives is Nedbank, followed closely by Woolworths. Bidvest has also achieved outstanding results with an overall 7th position, and was the only company in the industrial sector to be listed in the top rankings.
Jacko Maree has consistently proven to be a trusted and visible leader, and was rated the most trusted CEO for the third time. Leadership has become increasingly important since 2006, and is the top reputation driver in 2009. Consumer loss of confidence demands innovative, consistent and trustworthy leaders. Financial performance has also arrived in the top three attributes. Unfortunately, companies who have taken necessary action such as retrenchments and decreased production, also seem to suffer on a reputational level.
One of the greatest success stories is that the financial industry has managed to retain trust among its peers in South Afrika. This has certainly not been the international trend, and can be attributed to good local regulation. The challenges faced by South Africa inspire a renewed focus on corporate governance, and create huge opportunities for the top South African companies- companies that have CSI in their DNA; those that live the true meaning of value; and those that are able to juggle all the stringent demands necessary to validate their brands.
