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COVID-19 has reduced the value of Africa’s 150 biggest brands by $ 5.5 billion in 2021, creating uncertainty and affecting the ability of brands to do business as usual.
This is according to the new 2021 ratings from Brand Finance Africa. Brand Finance was established in 1996 with the aim of “bridging the gap between marketing and finance”.
Brand Finance Africa, the global independent leader in brand valuation consulting, has however named MTN Group the most valued African brand for the second consecutive year in the ranking of the 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 highest-valued brand.
The results of the 2021 survey said: “The telecommunications giant also dominates domestically, retaining its ten-year reign as South Africa’s most valuable brand this year.”
Brand value is defined as “the net economic benefit that a brand owner would obtain by licensing the brand in the open market”.
MTN Group CEO Ralph Mupita said the latest accolades were achieved through the hard work of MTN clients across the continent.