Mobile communications giant MTN is again SA’s most valuable brand
By our News Team | 2022
Retailer Checkers and banking industry challenger Capitec also feature strongly in South Africa’s annual Brand Finance report.
MTN (brand value up 34% to R59.8-billion or US$4.09-billion) has retained the number-one place on the ranking of the most valuable South African brands, according to the latest Brand Finance South Africa 100 report for 2022, released by leading brand-valuation consultancy Brand Finance.
Checkers has been named the country’s fastest-growing brand and Capitec bank is the strongest brand.
Every year, Brand Finance puts 5,000 of the biggest brands to the test and publishes nearly 100 reports, ranking brands across all sectors and countries. South Africa’s top 100 most valuable and strongest brands are included in a dedicated national ranking – the Brand Finance South Africa 100 2022.
MTN’s value has extended its lead over second-ranked Vodacom (brand value up 5% to R29.9-billion or US$2-billion) meaning that MTN’s brand value is now worth almost exactly double Vodacom’s brand value.
While the introduction of new regulations in Nigeria have slowed growth there, the number of MTN subscribers across the African continent increased by 2.9-million this year, to over 272-million subscribers globally.
“South African brands are powering our economy, and as the world looks towards life after Covid-19, MTN has cemented its leadership role as our most valuable brand,” says Jeremy Sampson, Managing Director of Brand Finance Africa.
MTN is well positioned for the future
“MTN’s brand value has grown considerably. With the current refresh of the brand, it is well positioned and reenergised for the future.”
Checkers (brand value up 71% to R11.1-billion or US$0.76-billion) is the fastest-growing brand in the entire South Africa 100 2022 report, a reflection of its ability to adjust to changing consumer demand during the pandemic. Over the two years of the pandemic, and amidst a time of significant economic disruption, the value of the Checkers brand has more than doubled.
Woolworths SA (brand value up 37% to R17.3-billion or US$1.2-billion) also achieved significant brand-value growth this year. In a year which is seeing various supply chain disruptions, Woolworths has been rated very favourably by its customers, achieving an extremely strong brand rating of AAA+.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity and business performance.
Capitec Bank (brand value up 26% to R9.2-billion or US$0.63-billion) is the strongest brand in the ranking, with a Brand Strength Index (BSI) score of 92.4 out of 100 and a corresponding brand rating of AAA+.
Capitec achieved the honour of being South Africa’s strongest brand by being only a fraction of a point ahead of second-ranked First National Bank, which earned a Brand Strength Index of 92.0 and also achieved a AAA+ rating.