MTN’s value has extended its lead over second-ranked Vodacom (brand value up 5% to R29.9 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 in Nigeria, the number of MTN subscribers across the African continent increased by 2.9 million this year, to over 272 million subscribers globally.
MTN is delivering on its brand commitment by carrying significantly higher levels of data traffic, and significant higher level financial transactions on its Mobile Money service.
MTN’s brand value has grown considerably. With the current refresh of the brand, it is well positioned and reenergised for the future,” adds Jeremy Sampson.
Similarly, the aggregate value of the top 100 South African brands grew by 17% this year, from R488bn in 2021 to R570bn in 2022.
This increase in brand values reflects significantly improved revenue forecasts in a future of lessened Covid-19 harm, and the likelihood of reduced civil unrest in key markets for South African brands.
Standard and First National Bank’s remain ahead of Absa (brand value up 3% to R21.3bn) which was the 3rd most valuable South African banking brand, and 5th most valuable South African brand overall.
Absa’s brand faced many of the same challenges as Standard Bank and FNB, but with its brand value increasing slightly to R21.3bn, it has not yet returned to pre-pandemic levels.
Standard Bank’s growth of 12% (brand value up to just over R23.4bn) this year is a big improvement on its 5% growth last year.
It is connected with the South African economy growing by 4.9% this year as it rebounds from the pandemic.
While the pandemic recovery is being disrupted by new waves of infection, infrastructure limitations (especially around reliable electricity) and social unrest is causing significant challenge.
Standard Bank’s operations did face some direct disruption from the unrest in KwaZulu-Natal and Gauteng in July, but limited due to Standard Bank’s brand reputation as a reliable business partner. This has enabled the bank to become the most valuable South African bank brand.
Over the two years of the pandemic, amidst a time of significant economic disruption, the value of the Checkers brand has more than doubled: from R4.9bn in 2020, to its current value of R11.1bn.
As its customers look forward, Checkers is in a strong position to leverage its greater brand value to drive further growth.
The combined muscle allows Checkers (and Shoprite) to benefit from being part of a larger group with opportunities to leverage the two brands in appropriate market segmentation.
Woolworths SA (brand value up 37% to R17.3bn) 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+.A key driver of Woolworths’ brand strength is parochial support in South Africa, where local consumers and stakeholders feel a national affinity with Woolworths (and several other South African brands, too).
Certified by ISO 20671, Brand Finance’s assessment of stakeholder equity incorporates original market research data from over 100,000 respondents in more than 35 countries and across nearly 30 sectors.
Capitec Bank (brand value up 26% to R9.2bn) 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+.
The largest new entrant is the 23rd most valuable South African brand Northam Platinum (brand value R8.1bn), with Anglo American Platinum (brand value R5bn) coming in at 34th place, just ahead of 36th ranked Implats (brand value R4.7bn).
View the full Brand Finance South Africa 100 2022 report here