Telecommunications network giant, MTN Group has been named `The Most Valuable Brand’ for the second year in a row by Brand Finance Africa 150 rankings.
In a statement by MTN in Lagos, it said the Brand Finance 150 rankings, which put the value of the network at between $2.7 billion and $1.0 billion above the next most valuable brand gave the assessment.
“A report on the 2021 survey said that MTN, giant telecommunications network provider dominates on home soil too, this year holding onto its decade-long reign as South Africa’s most valuable brand.
“Brand value is defined as the net economic benefit that a brand owner would achieve by licensing the brand in the open market,’’ the statement said.
According to the statement, Brand Finance Africa notes that the value of the continent’s top 150 brands fell by a combined 5.5 billion dollars this year, largely because of the COVID-19 pandemic.
This it said created uncertainty as well as impacting brands’ ability to do business as usual.
“In 2020, it assigned MTN a brand value of $3.3 billion.’’
MTN Group Chief Executive Officer, Ralph Mupita, said that the latest achievements were to hard work of MTN customers across the continent.
“This is also our 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.
The MTN boss said that its customers “knew this was the work that needs to be done every day, everywhere’’.
According to him, this we know as we remain focused on our core belief that everyone deserves the benefits of a modern connected life.
