MTN, Africa’s largest mobile network operator has again been announced as the most valuable South African brand, as well as the top South African brand by ‘sustainability perceptions value’ by Brand Finance South Africa.
This was disclosed in a statement on its website on Wednesday.
According to the statement, MTN was assigned a brand value of R68.2 billion and a sustainability perceptions value of R5.7 billion by Brand Finance South Africa 100 2024.
Commenting on this achievement, MTN Group President and CEO, Ralph Mupita, said It is remarkable and humbling that after 30 years in this business, we are still number one, given the serious economic challenges that we are facing.
He said, “It is both encouraging and humbling that we retain our top spot after 30 years in the business and that – despite the significant macroeconomic challenges we are facing – our brand also has the strongest association to perceptions of sustainability.
“We would like to thank our customers and other stakeholders everywhere for their support and we’d also like to thank our people for their commitment.”
Brand Finance said “While global operations can significantly enhance brand visibility and financial performance, they also introduce complexities that can affect brand strength negatively. These include navigating different regulatory environments, cultural nuances, and operational challenges including wars that can impact customer perceptions and loyalty.”
Brand Finance has ascribed the strength of the brand to the company’s effective strategies.
“the company’s effective strategies in areas such as customer service, advertising, loyalty programs, and overall reputation management,” Brand Finance said
In the statement, Ralph Mupita, was also named the top-ranked ‘Brand Guardian’ among South African CEOs.
Closely following is Vodacom’s brand value which increased 10% to R43.9 billion in 2024.
Vodacom’s brand has narrowed the gap with leading competitor MTN. Brand Finance’s research shows that Vodacom’s brand and market position are enhanced by the influence of its majority owner Vodafone.
According to Brand Finance data, although Vodacom operates independently and is listed on the Johannesburg Stock Exchange, the association of Vodacom with Vodafone increases brand equity and enhances recognition and trust.
Also in the top ranked is Nando’s
Nando’s has been ranked in South Africa’s top 100 with a brand value of R28.1 billion for the 1st time. In the past, Nandos has been excluded from the ranking due to data limitations, but Brand Finance is now in a position to leverage new data sources and value the brand.
The brand’s entry at fourth position for brand value reflects its status as a global restaurant powerhouse and one of South Africa’s most iconic brands. Although rooted in South Africa, Nando’s generates most of its revenue from international markets, notably the UK and Australia.
First National Bank’s (FNB)
As it becomes South Africa’s strongest brand in 2024, the update of its brand appears to have enhanced its brand equity and appeal. FNB’s Brand Strength Index Score of 92 out of 100 and the top AAA+ rating is a testament to its quality. The bank’s strategic shift to positioning itself as a more advisory-focused institution, rather than just a product-oriented institution, has contributed to its success.
Brand Finance is the world’s largest independent brand valuation firm.
Brand Finance was set up in 1996 with the aim of ‘bridging the gap between marketing and finance’
Brand Finance can provide brand leaders with the data and analysis they need to enhance their brands and businesses, through a combination of Global Brand Equity Monitor’s Visual Perceptual Data combined with its Value Database.
