A report released on Tuesday by global brand valuation consultancy, Brand Finance, has rated telecom giants, MTN and Vodacom, as the most valuable brands in South Africa.
According to the report, MTN is still the standout company, maintaining its position as the most valuable South African brand, despite experiencing an 8% decrease in brand value to ZAR68.2 billion.
Part of the report noted that the telecommunications company has significantly “expanded outside of its home market and has a stronghold in Nigeria, which is now MTN’s largest market in terms of both user base and revenue.”
“On the other hand, Vodacom’s brand value increased 10% to ZAR43.9 billion in 2024,” it said.
“This secures its second place in the ranking, while also narrowing the gap with leading competitor MTN.”
The Brand Finance research indicates that the influence of majority shareholder Vodafone has bolstered Vodacom’s brand and market standing.
Although Vodacom operates autonomously and is listed on the Johannesburg Stock Exchange, Brand Finance data reveals that Vodacom’s association with Vodafone enhances brand equity, cultivating recognition and trust.
“Amid the myriad of challenges that South African businesses are facing, our research highlights that now, more than ever, brand consistency is crucial in driving growth,” the report endorsed by Jeremy Sampson, Chairman, Brand Finance Africa, stated.
“For the past fifteen years, MTN and Vodacom have consistently maintained their positions as the top two most valuable brands and six of the top ten brands have stayed in the top ten.
“Leading brands like MTN, Vodacom, Standard Bank, and Absa have also nearly doubled their brand values since 2016.
“Time and time again, our findings underscore the critical need to prioritise brand investment as a strategic imperative, safeguarding companies’ brand as a valuable asset for the future,” it added.