MTN Group has been named the most valuable African brand, reports The Gazelle News.com.
The Group was named the most valuable African brand in the Brand Finance Africa 150 2020 ranking, which also ascribed a brand value of US$3.3 billion to MTN.
Brand value is the net economic benefit that a brand owner would achieve by licensing the brand in the open market.
In its survey, Brand Finance said: “Over the last year, Africa’s largest mobile operator has celebrated solid profits and impressive subscriber growth.”
The survey assessed the impact of COVID-19 on the enterprise value of all brands in its survey, compared to their values on 1 January 2020. It categorised the telecoms sector as ‘limited impact’, which it said meant “minimal brand value loss or potential brand value growth”. This was due to the increasingly important role that mobile operators have played in keeping people connected in the time of the pandemic.
In July, Brand Finance named MTN Group the most valuable South African brand, a result of the group’s focus on improving the customer experience for subscribers, as well as uniting 19,000 employees around a shared belief, which is that everyone deserves the benefits of a modern connected life.