South African telecommunications giant MTN has been named the continent’s most valuable brand by an online resource (Brandirectory) that tracks the performance of the world’s top trademarks.
MTN as a brand is valued at R32-billion (US$4.7-billion), which is almost double the value of its closest competitor Vodacom, another big name in the African telecommunications market. Vodacom is valued at R16-billion ($2.37-billion).
According to Brandirectory, MTN’s rivals for the title were Orascom Telecom from Egypt, Standard Bank and First National Bank.
Serame Taukobong, MTN’s chief marketing officer, said: “The hard work and concerted effort by the marketing team has ensured the communities in which MTN operates have a real affinity with the brand.
“In the short history of the company, the MTN brand enjoys iconic status both in South Africa and the other 20 countries in which the group has a presence. The public relates to and interacts with the brand on various levels and this rating from Brandirectory is an ‘Ayoba’ recognition of our investment in the brand.”
Ayoba, a South African slang term used as a greeting or to express general approval or appreciation, was the name given to MTN’s catchy marketing campaign for the summer of 2009/10.