MTN has emerged as Africa’s most valuable brand and the only African global brand in the 2011 Brand Finance Global 500.
Brand Finance Global 500 is the world’s most comprehensive brand value league table that ranks the most valuable brands across all major markets.
On its 2011 league table, which was released this week, Brand Finance Global 500 ranked MTN at position 199 with an AAA rating denoting “extremely strong” brand. The next African brand on the table, Standard Bank, falls marginally outside the Global 500 ranking at position 510.
‘‘It is great to see a brand created in Africa competing in our table of the world’s 500 most valuable brands. MTN’s brand team should be applauded for their efforts in building such a valuable asset and should see themselves as trailblazers for other African brands,” MD of Brand Finance South Africa, Oliver Schmitz said in a statement.
MTN Group, which has 141.6 million subscribers including 2.5 million from Rwanda, is the market leader in the majority of its 21 territories in which it operates, enjoys iconic status across its vast footprint in Africa and the Middle East, partly because the company has long highlighted the need to understand the underlying drivers of brand equity held by consumers.
MTN’s efforts to understand consumers’ motivation, needs, aspirations, belief system and other values which are important in developing customer satisfaction, brand loyalty and sustainable success have been core to the brands promise and success.
“MTN has increased its market share as a result of leveraging its strong brand, rated AAA by Brand Finance, and improved propositions across key audiences. The brand perception was greatly supported by MTN’s affiliation to the 2010 FIFA World Cup,” Schmitz added.
“We are very proud to represent the best of Africa on Brand Finance’s Global 500 list. The ranking bears testament to MTN’s emerging market and marketing know-how and further demonstrates what we have long known to be true – that the developing markets are poised to compete on the world stage,” MTN Group’s Marketing Executive, Jennifer Roberti said.
Although the top end of the Global 500 contains many household names brands that have existed for decades - IBM, Bank of America, HSBC - the world’s increasing dependence on the internet and technology is reflected by Google’s position at number-1.