by MTHULISI SIBANDA
JOHANNESBURG, (CAJ News) – MTN has retained its title as Africa’s most valuable brand as South African companies dominate the Brand Finance Africa 150’s 2021 ranking.
South Africa, the continent’s most diversified economy, has 81 brands featuring, which account for 73 percent of total brand value.
Nigeria, with 17 brands, and Morocco with 10, are next best represented nations in the ranking.
Total brand value of Africa’s top 150 most valuable brands drops 12 percent from US$45,5 billion in 2020 to $40 billion in 2021.
This is blamed on the COVID-19 and resultant lockdowns.
MTN is valued at $2,7 billion.
Banking, telecoms, and insurance are the continent’s most valuable sectors.
The entire top ten hail from South Africa, whose brands feature with a cumulative brand value of US$29 billion.
MTN and Vodacom lead, with First National Bank (brand value $1,3 billion), Old Mutual (brand value $1,3 billion) and Standard Bank ($1,3 billion) completing the top five.
MTN has retained the title despite recording a 19 percent drop in brand value and enduring turbulent times in some of its markets and exiting the Middle East.
Jeremy Sampson, Managing Director, Brand Finance Africa, said in a year that saw most local countries go into lockdown and significant unrest across the continent, a decline in total brand value for the top African brands was unsurprising.
He said following the pandemic, African brands will need to search for opportunities to make up lost ground.
“By embracing new technologies and collaboration, the continent can propel its recovery and bounce back from the extraordinary situation the world has found itself in,” Sampson said.
Every year, Brand Finance ranks 5 000 of the biggest brands, evaluating their strength and quantifying their value.
– CAJ News