MTN is South Africa’s most valuable brand, says Brand Finance

Telecoms businesses rank first and second on Brand Finance’s most valuable brands rankings, with MTN maintaining its position as the most valuable South African brand, despite experiencing an 8% decrease in brand value to R68.2bn.

MTN has significantly expanded outside of its home market and has a stronghold in Nigeria, which is now the telecoms giant’s largest market in terms of user base and revenue. MTN also boasts the highest sustainability perceptions value. This does not gauge the company’s overall sustainability endeavours; rather, it reflects the extent to which the brand’s value is associated with perceptions of its sustainability.

Vodacom increased its brand value by 10% to R43.9bn in 2024. This secures its second place in the ranking, while also narrowing the gap with MTN. Brand Finance research indicates that the influence of majority shareholder Vodafone bolsters Vodacom’s brand and market standing. Though Vodacom operates autonomously and is listed on the JSE, Brand Finance data shows that Vodacom’s association with Vodafone enhances brand equity, cultivating recognition and trust.

Standard Bank ranks third with a 27% increase in brand value, supported by its expansive operations in Africa.

Nando’s debuts as the fourth most valuable brand with a brand value of R28bn, showcasing its global success and innovative approach to customer experience. Previously, Nando’s was excluded from the ranking due to data limitations. The brand’s entry at fourth position reflects its status as a global restaurant powerhouse and one of South Africa’s most iconic brands. Though rooted in South Africa, Nando’s generates most of its revenue from international markets, notably the UK and Australia.

FNB is South Africa’s strongest brand with a brand strength index (BSI) score of 92 out of 100 and an elite AAA+ brand rating, replacing last year’s strongest brand, Pick n Pay, which moves down to eighth position. Brand Finance says FNB’s success is attributed to the bank’s strategic shift towards positioning itself as more advisory-focused, rather than merely product-oriented. Its research also found FNB had high levels of familiarity and consideration among consumers in South Africa.

The biggest mover within the top 10 brand strength ranking is Old Mutual, from seventh in 2023 to second in 2024.

Local retailers remain among South Africa’s strongest brands, despite mixed brand value fortunes. There were six retailers in the top 10 strongest brands in South Africa’s 2024 ranking, indicating the sector’s overall strength. Woolworths remains the strongest retail brand for the second year in a row. The brands included in the top 10 brand strength ranking remain the same, in some cases just trading places. Retailers dominate the space, with Woolworths, Checkers, Dis-Chem, Clicks, Pick n Pay and Game all demonstrating the trust consumers place in them.