For the second year in a row, MTN Group has been named the most valuable African brand in the Brand Finance Africa (BFA) 150 rankings.
BFA assigned MTN a brand value of US$2.7 billion this year, which is a US$1.0 billion higher than the next most valuable brand, Vodacom, which was assigned a brand value of US$1.7 billion.
In 2020, MTN was assigned a brand value of US$3.3 billion, which means there has been a drop this year, and BFA attributed that to Covid-19, which also caused a combined US$5.5 billion fall in the value of all 150 brands, from US$45.5 billion in 2020 to US$40 billion this year.
According to the BFA report, the COVID-19 pandemic created uncertainty and impacted brands’ ability to do business as usual, hence the drop in brand value across board.
Regarding MTN’s performance, the report states that “the telecoms giant dominates on home soil too, this year holding onto its decade-long reign as South Africa’s most valuable brand”.
Brand value is defined as the “net economic benefit that a brand owner would achieve by licensing the brand in the open market”.
MTN Group CEO Ralph Mupita said the latest accolades were achieved thanks to
the hard work of MTNers across the continent and their commitment to bringing to everyone in 17 African markets the benefits of a modern connected life.
“We are both humbled and inspired by the confidence our customers and broader
stakeholders continue to place in the MTN brand. At the core, a brand is about
exceeding promises, expectations and delivering true value,” Mupita said.
“MTNers know this is the work that needs to be done every day, everywhere, as
we remain focused on our core belief that everyone deserves the benefits of a modern connected life,” added.
Meanwhile, per the report, Capitec Bank closed the period as the strongest brand on the continent, with a Brand Strength Index (BSI) of 89.2 per cent. Capitec has therefore overtaken Vodacom, which was adjudged Africa’s strongest brand in 2020.
The report also notes that banking, telecom, and insurance are Africa’s most valuable brands, adding that South Africa dominates the pack with 81 brands making the cut, followed by Nigeria with 17 and Morocco with 10.