MTN Group has been named most valuable African brand worth USD3.3billion.
“MTN Group is pleased to announce that it has been named the most valuable African brand in the Brand Africa 150 2020 ranking, which ascribes a brand value of USD3.3BN to MTN” the giant Telecom group said in a statement on Sunday.
In it’s survey, Brand Finance said; “over the last year, Africa’s largest Mobile operator has celebrated solid profits and impressive subscriber growth”
The survey assessed the impact of COVID-19 on the enterprise value of all brands in it’s survey, compared to their values as at January 2020. It categorized the telecoms sector as “limited impact” which meant minimal brand value loss or potential brand value growth.
This they said was due to the important role that mobile operators have played in keeping the people connected in the time of the pandemic.
MTN Group Limited, formerly M-Cell, is a South African multinational mobile telecommunications company, operating in many African, European and Asian countries. Its head office is in Johannesburg. As of 30 June 2016, MTN recorded 232.6 million subscribers, making it the eighth largest mobile network operator in the world, and the large and the largest in Africa.
MTN is active in over 20 countries, one-third of company revenue come from Nigeria, where it holds about 35% market share.
In July, Brand Finance named MTN Group the most valuable South African brand as a result of the group’s focus on improving customer experience for subscribers as well as uniting 19,000 employees around a shared belief.