Coronavirus cuts Africa’s brands value by $5.5b as MTN leads region
• NCC tasks telecoms consumers on Oct 31 deadline for NIN-SIM integration
COVID-19 has cut the value of Africa’s top 150 brands by $5.5 billion in 2021, creating uncertainty and impacting brands’ ability to do business as usual.
This is according to Brand Finance Africa’s 2021 new ratings. Brand Finance was set up in 1996 with the aim of ‘bridging the gap between marketing and finance’.
Brand Finance Africa, the world’s leading independent brand valuation consultancy, however, named MTN Group the most valuable African brand for the second year in a row in the ranking of 150 brands in the region.
MTN in a statement, yesterday, said it assigned the group a brand value of $2.7 billion to $1.0 billion above the next most valuable brand.
The 2021 survey findings stated: “The telecoms giant 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.”
MTN Group Chief Executive Officer, Ralph Mupita, said the latest accolades were achieved thanks to the hard work of MTN customers across the continent.