- MTN rebounds from pandemic with strong growth to lead second-place Vodacom
- The aggregate value of top South African brands grows by 15% in post-COVID rebound
- Standard Bank edges ahead of First National Bank and Absa to be the most valuable South African banking brand
- Checkers is the fastest-growing of all South African brands, fellow retail brands Woolworths SA and Shoprite also grow quickly
- Capitec Bank is South Africa’s strongest brand
- Series of mining brands join ranking for the first time
View the full Brand Finance South Africa 100 2022 report here
MTN (brand value up 34% to R59.8 billion) remains top 1 of the most valuable South African brands in the world – Brand Finance South Africa 2022 report. The leading telecoms brand value has surged this year, returning to growth after a disappointing result in 2021. MTN’s value has extended its lead over second-ranked Vodacom (brand value up 5% to R29.9 billion). Therefore, MTN’s brand value is now worth almost exactly double Vodacom’s brand value.
Meanwhile, the number of MTN subscribers across the African continent increased by 2.9 million this year, to over 272 million subscribers globally.
Jeremy Sampson, Managing Director, Brand Finance Africa, commented:
“South African brands are powering our economy. When the world looks towards life after COVID-19, MTN has cemented its leadership role as our most valuable brand. MTN’s brand value has grown considerably. With the current refresh of the brand, it is well positioned and reenergised for the future.”
Aggregate value of top South African brands grows by 15% in post-COVID rebound
The aggregate value of the top 50 South African brands grew by 15% this year, from R452 billion in 2021 to R519 billion in 2022. Similarly, the aggregate value of the top 100 South African brands grew by 17% this year, from R488 billion in 2021 to R570 billion in 2022. This increase in brand values reflects significantly improved revenue forecasts in a future of lessened COVID-19 harm, and the likelihood of reduced civil unrest in key markets for South African brands.
Standard Bank edges ahead of First National Bank and Absa to be the most valuable South African banking brand
Both Standard Bank and First National Bank have both built valuable brands as the 3rd and 4th most valuable South African brands overall.
Standard Bank’s growth of 12% this year is a big improvement on its 5% growth last year and is connected with the South African economy growing by 4.9% this year as it rebounds from the pandemic.
Standard and First National Banks remain ahead of Absa (brand value up 3% to R21.3 billion). Which was the 3rd most valuable South African banking brand, and 5th most valuable South African brand overall. Absa’s brand faced many of the same challenges as Standard Bank and FNB. However, with its brand value increasing slightly to R21.3 billion, it has not yet returned to pre-pandemic levels.
Checkers is the fastest-growing of all South African brands, fellow retail brands Woolworths SA and Shoprite also grow quickly
Checkers (brand value up 71% to R11.1 billion) is the fastest growing brand in the entire Country. During the pandemic, amidst economic disruption, the value of the Checkers brand has more than doubled. Therefore increasing from R4.9 billion in 2020, to its current value of R11.1 billion.
Checkers’ brand value is part of the same group as Shoprite (brand value up 22% R15.7 billion). This allows Checkers (and Shoprite) to benefit from being part of a larger group with opportunities.
Woolworths SA (brand value up 37% to R17.3 billion) also achieved significant brand value growth this year. Woolworths has been rated very favourably by its customers, achieving an extremely strong brand rating of AAA+.
Capitec Bank is South Africa’s strongest brand
Capitec Bank achieved the honour of being South Africa’s strongest brand by only a fraction of a point ahead of second-ranked First National Bank, which earned a Brand Strength Index of 92.0 and also achieved a AAA+ rating. The AAA+ brand rating puts Capitec Bank and First National Bank in some elite global company, alongside strong iconic brands such as WeChat, Google, YouTube and Coca-Cola. Both South African bank brands benefited from strong local support and customer affinity for South African brands.
Series of mining brands join ranking for first time
In recognition of the booming demand for commodities, and reflecting the significant and increasing importance of mining brands to the South Africa economy, Brand Finance has included several mining brands in the Brand Finance South Africa 100 2022 ranking for the first time. The largest new entrant is the 23rd most valuable South African brand Northam Platinum (brand value R8.1 billion), with Anglo American Platinum (brand value R5 billion) coming in at 34th place, just ahead of 36th ranked Implats (brand value R4.7 billion).
Newly ranked AngloGold Ashanti (brand value R4.1 billion) was ranked in 39th place, immediately ahead of Kumba Iron Ore (brand value R3.9 billion) in 40th place, and Gold Fields (brand value R3.2 billion) was 43rd.
View the full Brand Finance South Africa 100 2022 report here
