Afrinvest Leads Nigeria's 2022 Rankings, Ahead of Interswitch & UBA

When Afrinvest West Africa topped Plexus Media Interlinks' 2022 brand performance list, the financial world took notice.

Earlier this week, the integrated communications firm Plexus Media Interlinks released its ranking of the ten most top‑performing brands in Nigeria for the year 2022. The list shines a light on how a handful of companies and even a former governor navigated a turbulent economy, soaring inflation and an uneasy policy climate to stay visible and valuable to Nigerians.

Methodology Behind the Rankings

According to the firm, the assessment weighed three pillars: media presence, media exposure and overall impact. Media presence counted the sheer volume of mentions across TV, radio, print and digital outlets. Exposure measured the sentiment and reach of those stories – positive, neutral or negative. Impact looked at how each brand’s actions translated into market activity, whether that be new product launches, regulatory wins or community initiatives.

Data were gathered from Jan 1 2022 through Dec 31 2022. Plexus plugged the numbers into a proprietary scoring engine, normalising for sector size and audience demographics. The final list reflects not just who shouted the loudest, but who managed to stay relevant when the macro‑environment was anything but friendly.

Afrinvest West Africa: Why It Claimed the Top Spot

The Afrinvest West Africa surge began in the third quarter of 2022. From July to December, the firm logged 1,210 media mentions – a 38% jump from the same period in 2021. Its headline‑grabbing moments included the launch of Afrinvest Securities Limited, a new subsidiary that broadened the group's footprint into securities brokerage.

“We wanted to show that investment banking can be digital, fast and still locally grounded,” said Mr. Kola Iroju, CEO of Afrinvest, in an interview. “The new logo is more than a facelift; it signals a shift toward a fully digital investment bank.”

Beyond branding, Afrinvest announced a partnership with the Nairobi Stock Exchange to facilitate cross‑border listings, a move that earned it praise from the Financial Services Authority. The firm also celebrated its 27th anniversary, marking over a quarter‑century of advising governments and corporations across West Africa.

All these milestones fed the media narrative, painting Afrinvest as a resilient, forward‑thinking player at a time when many firms were throttling back.

Runners‑up: Interswitch, UBA and Former Governor Willie Obiano

Close on Afrinvest’s heels was Interswitch, a fintech powerhouse that notched 950 positive mentions. Its biggest story in 2022 was the rollout of a new payments platform that processed over 3 billion transactions, a figure that topped the year’s industry reports.

United Bank for Africa (UBA) secured the third slot with 870 mentions, driven largely by its aggressive expansion into northern Nigeria and a series of community banking initiatives that reached over 1.2 million new customers.

Surprisingly, the list also featured former Anambra State Governor Willie Obiano. While not a corporate entity, Obiano’s post‑governorship foundation launched a nationwide youth entrepreneurship program that garnered extensive media coverage, especially after the program disbursed ₦150 million in grants.

“The recognition shows that impact can come from public service as well as private sector,” Obiano remarked. “Our aim is to turn ideas into jobs, and the media attention helps attract partners.”

How Brands Weathered Nigeria’s 2022 Economic Storm

2022 was harsh: the IMF reported a 1.9% contraction in Nigeria’s GDP, inflation peaked at 18.9% in July, and foreign exchange scarcity forced many firms to rethink imports. Yet the top‑ranked brands managed to turn adversity into visibility.

Interswitch, for example, capitalised on the cash‑less push by partnering with the Central Bank’s “e‑Naira” pilot, positioning itself as the go‑to tech partner. UBA focused on domestic financing, rolling out micro‑credit products that helped small traders survive the currency squeeze.

Economist Dr. Chidi Nwankwo of Lagos Business School explained, “Brands that could demonstrate direct consumer benefit – whether through cheaper payments, easier credit or community programs – earned media goodwill. In a down‑turn, goodwill translates to coverage.”

Even Afrinvest’s digital pivot aligned with a national push for fintech solutions, allowing the firm to headline discussions about modernising capital markets. Their media playbook included thought‑leadership articles in *Business Day* and televised panels on the future of West African investment banking.

What This Means for Nigeria’s Corporate Landscape

The rankings send a clear signal: visibility is no longer a side‑effect of size; it’s a strategic asset. Companies that invest in narrative – be it a new logo, a product launch or a social program – can out‑shine larger rivals when the macro‑environment is shaky.

For investors, the list offers a shortcut to identify firms that have proven crisis‑management chops. For marketers, it underscores the importance of integrated communication strategies that blend traditional media with digital outreach.

Looking ahead, Plexus expects the 2023 list to be even more competitive. With the government hinting at a new sovereign wealth fund and the continued rollout of fiscal reforms, brands that can tie their story to national development goals may climb even higher.

Key Facts

• Afrinvest logged 1,210 media mentions from Q3–Q4 2022, a 38% increase YoY.
• Interswitch processed over 3 billion transactions on its new platform.
• UBA’s community banking outreach reached 1.2 million new customers.
• Former Governor Willie Obiano’s youth fund awarded ₦150 million in grants.
• Nigeria’s inflation peaked at 18.9% in July 2022, challenging brand pricing strategies.