MTN Group has been named Africa’s most valuable brand by Brand Finance’s inaugural Africa 150 rankings. The valuation that MTN received was US$3.3 Billion and sets them head and shoulders above the rest of the brands in Africa.
South Africa’s telecom giant got the valuation after losing 1% brand value. What has helped however is that MTN has recorded solid profits and growth in subscribers who, at present, stand at 250 million across 23 countries.
Telecommunications companies have been under threat from internet-based messaging services like WhatsApp. They offer voice calls and messaging at a lower rate which drive down traffic for GSM calls and SMS. On top of that, Telecoms companies have also been in stiff competition with one another, offering the market similar rates for data. Brand Finance, however, sees the COVID-19 pandemic as an opportunity for growth on account of the rising demand for internet services.
Brands that joined MTN Group in the top 5
South African brands dominated the top 5 with MTN leading the way. The company which placed second was Vodacom valued at US$2.1 billion after losing 8% of its brand value. First National Bank is third with a valuation of US$1.6 billion. ABSA was fourth, valued at US$1.5 billion and in fifth place Old Mutual which lost 16% of its brand value and received a valuation of US$1.4 billion.
Out of the 54 countries, only brands from 19 countries were represented in Brand Finance’s rankings. South Africa took the lion’s share followed by Nigeria with 16 brands and Morocco with 9 brands.
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