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MTN Group gets most valuable African brand title

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The MTN Group on Thursday said it has been named the most valuable African brand in the Brand Finance Africa 150 ranking in 2020.

Its Group Executive, Corporate Affairs, Nompilo Morafo, said the award was ascribed a brand value of 3.3 billion dollars to the group.

Brand value is the net economic benefit that a brand owner would achieve by licencing the brand in the open marker.

In its survey by Brand Finance, it said, “Over the last year, Africa’s largest mobile operator has celebrated solid profits and impressive subscriber growth.”

Morafo said the survey assessed the impact of COVID-19 on the enterprise value of all brands compared to their values on Jan. 1.

It categorised the telecommunications sector as ‘limited impact’, which it said meant “minimal brand value loss or potential brand value growth”.

This was due to the increasingly important role that mobile operators had played in keeping people connected in the time of the pandemic.

He, however, said in July, Brand Finance also named MTN Group the most valuable South African brand.

Morafo said a result of the group’s focussed was on improving the customer’s experience for subscribers.

The company’s group executive said it was uniting 19, 000 employees around a shared belief, saying that everyone deserved the benefits of a modern connected life.

Edited By: Olagoke Olatoye
Source: NAN

Okuanwan Offiong

Okuanwan Offiong: NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor @ nnn.ng. Disclaimer.

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