BRAND VALUATION

Banking, telecoms and alcohol the big winners in SA brand report

By our African Marketing Confederation News Team | 2024

FNB and Standard banks come out tops in Kantar 2024 brand valuation study. Vodacom, MTN and Castle beer round out top five.

First National Bank (FNB) is South Africa’s top brand with a brand value of over US$3.1–billion, according to the newly released ‘Kantar BrandZ Most Valuable South African Brands 2024 Report’.

FNB is the most valuable SA brand. Photo: FNB

Against the backdrop of a challenging economic landscape, brands in the banking, telecoms and alcohol sectors dominate the 2024 study with their ability to deliver on key drivers for growth. 

 

“With a new pricing structure and ongoing innovation to enable convenient access to its services via award-winning digital banking channels and mobile applications, customers trust [FNB] to be acting in their best interests,” the Kantar research team says. 

 

Standard Bank, another of the country’s traditional ‘big five’ banking brands, is in second place. It increased its brand value by 2% over the past year. 

 

Telecoms brands are prominent again 

As before, telecom providers –both with a wide African footprint – feature prominently in the report. 

 

This year Vodacom (brand value $2.46-billion) rose one place to number three, with MTN ($2.39-billion) coming in at fourth.  

 

Comments Kantar: “Vodacom benefitted from acquisition, expansion of its network and a focus on enhanced customer experience. The result is a customer ecosystem that delivers offerings including telecoms, fixed connectivity, finance and insurance services.” 

 

Coming in at number five is beer brand Castle ($1.99-billion). It holds the same position it did last year’s rankings. 

 

Rounding out the top 10 is Nando’s (fast food) and Absa, Capitec Bank, Discovery and Investec (all financial services brands). 

 

“Across a range of business sectors, South African brands are continuing to transcend the currently challenging market conditions,” Kantar states. 

 

“A large proportion are meeting the needs of customers with actions and initiatives that mark them out as being ‘meaningfully different’ and relevant to consumers’ lives today. These strong, forward-focused brands are proving that they can identify what it takes to grow and follow up by implementing programmes to deliver this.” 

 

You can download the report here. 

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Rozanne
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    Dr Kin Kariisa

    Group CEO - Next Media

    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.