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BRAND VALUATION

MTN is still the most valuable South African brand, report finds

By our African Marketing Confederation News Team | 2024

Telecommunications competitor Vodacom is second, but closing the gap, helped by Vodafone association. Standard Bank ranks third.

Mobile communications company MTN has maintained its position as the most valuable South African brand, despite experiencing an 8% decrease in brand value. 

The top 10 Most Valuable South African Brands in 2024

 

This is according to the newly released Brand Finance South Africa 100 2024 report, which shows the pan-African telecoms giant has a brand value of US$3.64-billion (R68.2-billion). 

 

The company has significantly expanded outside of its home market and has a stronghold in Nigeria, which is now MTN’s largest market in terms of both user base and revenue, Brand Finance says. 

 

Competitor telecommunications brand Vodacom is in second place with a brand value that increased by 10% to US$2.34-billion (R43.9-billion) in 2024. 

 

Brand Finance research indicates that the influence of majority shareholder Vodafone bolsters Vodacom’s brand and market standing. Although Vodacom operates autonomously and is listed on the Johannesburg Stock Exchange, research data reveals that Vodacom’s association with Vodafone enhances brand equity, cultivating recognition and trust. 

 

The brands rounding out the top five in value are Standard Bank in third, quick-service restaurant business Nando’s in fourth, and First National Bank (FNB) in fifth.  

 

Brand consistency is crucial in driving growth 

 

“Amid the myriad of challenges that South African businesses are facing, our research highlights that now, more than ever, brand consistency is crucial in driving growth,” comments Jeremy Sampson, Chairman of Brand Finance Africa. 

 

“For the past 15 years, MTN and Vodacom have consistently maintained their positions as the top two most valuable brands, and six of the top 10 brands have stayed in the top 10. Leading brands like MTN, Vodacom, Standard Bank, and Absa (another banking brand) have also nearly doubled their brand values since 2016.  

 

“Time and time again, our findings underscore the critical need to prioritise brand investment as a strategic imperative, safeguarding companies’ brand as a valuable asset for the future.” 

 

Nando’s is included in the South Africa 100 ranking for the first time. Previously it was excluded from the ranking due to data limitations. However, Brand Finance is now able to leverage new data sources and value the brand.  

 

“Nando’s entry at fourth position for brand value reflects its status as a global restaurant powerhouse and one of South Africa’s most iconic brands,” the researchers say.  

 

“Although rooted in South Africa, Nando’s generates most of its revenue from international markets, notably the UK and Australia.” 

 

Retailers remain amongst South Africa’s strongest brands, despite mixed brand value fortunes. There are six retailers in the top 10 strongest brands, indicating the sector’s overall strength. Woolworths is the strongest retail brand for the second year in a row. 

 

The study also measures Brand Strength, which uses a different set of metrics. Here, the top five brands are: First National Bank (FNB), Old Mutual (insurance), Woolworths, Checkers (retail), and Capitec (banking). 

 

You can find out more about the report here. 

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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.