For the second consecutive year, 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.
A report on the 2021 survey’s findings 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 the “net economic benefit that a brand owner would achieve by licensing the brand in the open market”.
In a statement on Wednesday, Brand Finance Africa said the value of the continent’s top 150 brands fell by a combined $5.5bn in 2021, largely because of the COVID-19 pandemic creating uncertainty and impacting brands’ ability to do business as usual. In 2020, it assigned MTN a brand value of $3.3bn.
Commenting, 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.