MTN and Vodacom top South Africa’s most valuable brands

According to Brand Finance, a brand valuation consultancy, MTN, Vodacom, and Standard Bank lead the pack as the most valuable brands in South Africa.

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MTN, despite experiencing an 8% decrease in brand value to R68.2 billion, maintained its top position from the previous year.

Vodacom saw a 10% rise in brand value to R43.9 billion in 2024, but it couldn’t surpass MTN. Brand Finance attributes Vodacom’s strong brand standing partly to its association with majority shareholder Vodafone, which bolsters its recognition and trust.

Brand Finance determines brand values using the “Royalty Relief” approach, compliant with industry standards, estimating future revenues attributable to a brand.

The top 10 brands of 2024 include notable companies like Nando’s, which debuted surprisingly at fourth position with a brand value of R28.2 billion. Positions 5 to 10 are held by FNB, Absa, Spar, Investec, Shoprite, and MultiChoice.

Jeremy Sampson, Brand Finance Africa chairman, highlights the consistent dominance of MTN and Vodacom as the top two brands over the past 15 years. He notes that leading brands like MTN, Vodacom, Standard Bank, and Absa have nearly doubled their brand values since 2016.

Sampson also praises FNB for becoming South Africa’s strongest brand in 2024, with a Brand Strength Index score of 92 out of 100 and an elite AAA+ brand rating. He attributes this success to FNB’s strategic shift toward an advisory-focused approach, enhancing its brand equity and appeal among consumers.

For the first time, Nando’s is included in the South Africa 100 ranking, previously excluded due to data limitations. Brand Finance now leverages new data sources to value the brand, reflecting its status as a global restaurant powerhouse and one of South Africa’s most iconic brands.