MTN Group has been named the most valuable African brand in the Brand Finance Africa 150 rankings, which assigned the group a brand value of $2.7 billion – $1billion above the next 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.
A report on the 2021 survey’s findings stated that the telecoms giant dominates on home soil too, this year holding onto its decade-long reign as South Africa’s most valuable brand.
According to Brand Finance Africa, the value of the continent’s top 150 brands fell by a combined $5.5 billion in 2021, largely because of the COVID-19 pandemic creating uncertainty and impacting brands’ ability to do business as usual, adding that in 2020, it had assigned MTN a brand value of $3.3 billion.
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.
“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,” Mupita said.